Analysts Set Etsy, Inc. (NASDAQ:ETSY) Target Price at $64.87

Etsy, Inc. (NASDAQ:ETSY) has received an average rating of “Hold” from the twenty-four analysts that are currently covering the firm, Marketbeat reports. Four equities research analysts have rated the stock with a sell recommendation, twelve have assigned a hold recommendation, seven have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $64.87.

A number of research firms have recently issued reports on ETSY. UBS Group reduced their price target on shares of Etsy from $65.00 to $58.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 15th. Piper Sandler reissued a “neutral” rating and issued a $56.00 target price on shares of Etsy in a report on Friday, August 23rd. Bank of America lowered their target price on Etsy from $61.00 to $58.00 and set a “neutral” rating for the company in a report on Thursday, October 24th. Loop Capital cut their price target on Etsy from $50.00 to $45.00 and set a “sell” rating on the stock in a report on Monday, August 12th. Finally, Needham & Company LLC restated a “buy” rating and set a $60.00 price objective on shares of Etsy in a research note on Thursday, October 31st.

Insider Activity

In related news, insider Nicholas Daniel sold 750 shares of Etsy stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $55.40, for a total value of $41,550.00. Following the transaction, the insider now directly owns 18,083 shares in the company, valued at $1,001,798.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Etsy news, CAO Merilee Buckley sold 1,676 shares of Etsy stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $51.11, for a total transaction of $85,660.36. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Nicholas Daniel sold 750 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $55.40, for a total value of $41,550.00. Following the completion of the sale, the insider now owns 18,083 shares of the company’s stock, valued at $1,001,798.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,369 shares of company stock worth $280,200. Insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Everence Capital Management Inc. purchased a new position in Etsy during the 3rd quarter valued at about $834,000. TD Asset Management Inc increased its stake in Etsy by 16.8% in the 1st quarter. TD Asset Management Inc now owns 1,540,465 shares of the specialty retailer’s stock valued at $105,861,000 after buying an additional 221,275 shares during the period. Diversified Trust Co lifted its position in Etsy by 11.5% in the 2nd quarter. Diversified Trust Co now owns 6,459 shares of the specialty retailer’s stock worth $381,000 after buying an additional 668 shares in the last quarter. Advisors Asset Management Inc. boosted its stake in shares of Etsy by 12.6% during the 1st quarter. Advisors Asset Management Inc. now owns 146,865 shares of the specialty retailer’s stock valued at $10,093,000 after buying an additional 16,458 shares during the period. Finally, Louisiana State Employees Retirement System grew its holdings in shares of Etsy by 740.9% during the 3rd quarter. Louisiana State Employees Retirement System now owns 55,500 shares of the specialty retailer’s stock valued at $3,082,000 after acquiring an additional 48,900 shares in the last quarter. 99.53% of the stock is owned by institutional investors and hedge funds.

Etsy Stock Down 0.2 %

Shares of Etsy stock opened at $53.31 on Tuesday. The business has a 50-day moving average price of $52.37 and a 200 day moving average price of $57.58. Etsy has a fifty-two week low of $47.10 and a fifty-two week high of $89.58. The firm has a market cap of $6.00 billion, a P/E ratio of 27.20, a P/E/G ratio of 6.26 and a beta of 1.99.

Etsy (NASDAQ:ETSY) last posted its quarterly earnings results on Wednesday, October 30th. The specialty retailer reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.09). The firm had revenue of $662.40 million for the quarter, compared to analyst estimates of $652.47 million. Etsy had a net margin of 9.17% and a negative return on equity of 46.79%. The business’s revenue was up 4.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.64 earnings per share. As a group, equities research analysts anticipate that Etsy will post 2.25 earnings per share for the current year.

Etsy declared that its board has initiated a stock buyback program on Wednesday, October 30th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the specialty retailer to reacquire up to 17.8% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Etsy Company Profile

Etsy, Inc, together with its subsidiaries, operates two-sided online marketplaces that connect buyers and sellers in the United States, the United Kingdom, Germany, Canada, Australia, and France. Its primary marketplace is Etsy.com that connects artisans and entrepreneurs with various consumers. The company also offers Reverb, a musical instrument marketplace; Depop, a fashion resale marketplace; and Elo7, a Brazil-based marketplace for handmade and unique items.