Etsy (NASDAQ:ETSY) Stock Rating Reaffirmed by Truist Financial

Etsy (NASDAQ:ETSY)‘s stock had its “buy” rating restated by analysts at Truist Financial in a research report issued on Tuesday, Benzinga reports. They presently have a $76.00 target price on the specialty retailer’s stock. Truist Financial’s price target indicates a potential upside of 38.61% from the company’s current price.

A number of other equities analysts have also weighed in on ETSY. Cantor Fitzgerald reiterated a “neutral” rating and set a $50.00 price objective on shares of Etsy in a research note on Monday. Wells Fargo & Company lowered their price objective on Etsy from $58.00 to $56.00 and set an “underweight” rating on the stock in a research report on Tuesday, June 25th. Wolfe Research started coverage on shares of Etsy in a report on Tuesday, July 16th. They set a “peer perform” rating for the company. Oppenheimer cut shares of Etsy from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 1st. Finally, Evercore ISI raised shares of Etsy to a “strong-buy” rating in a report on Thursday, August 1st. Four investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $70.61.

Etsy Stock Performance

Shares of Etsy stock remained flat at $54.83 during trading on Tuesday. The stock had a trading volume of 149,260 shares, compared to its average volume of 3,779,220. The firm’s 50-day moving average is $56.54 and its two-hundred day moving average is $61.33. The stock has a market cap of $6.41 billion, a price-to-earnings ratio of 25.04, a P/E/G ratio of 5.10 and a beta of 1.97. Etsy has a 1 year low of $50.63 and a 1 year high of $89.58.

Etsy (NASDAQ:ETSY) last posted its quarterly earnings results on Wednesday, July 31st. The specialty retailer reported $0.41 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.05). Etsy had a net margin of 10.36% and a negative return on equity of 51.94%. The business had revenue of $647.80 million during the quarter, compared to the consensus estimate of $629.87 million. During the same quarter in the prior year, the firm posted $0.83 EPS. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. On average, equities research analysts anticipate that Etsy will post 2.38 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Nicholas Daniel sold 750 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $55.40, for a total transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 2,000 shares of company stock valued at $116,395 over the last quarter. Company insiders own 2.60% of the company’s stock.

Institutional Trading of Etsy

A number of hedge funds have recently made changes to their positions in the stock. Polen Capital Management LLC grew its stake in Etsy by 83.3% in the fourth quarter. Polen Capital Management LLC now owns 34,322 shares of the specialty retailer’s stock worth $2,782,000 after purchasing an additional 15,598 shares in the last quarter. MCF Advisors LLC increased its stake in Etsy by 23,542.9% during the first quarter. MCF Advisors LLC now owns 3,310 shares of the specialty retailer’s stock valued at $227,000 after purchasing an additional 3,296 shares during the last quarter. TD Asset Management Inc boosted its holdings in shares of 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. Artisan Partners Limited Partnership grew its position in shares of Etsy by 2.0% during the 4th quarter. Artisan Partners Limited Partnership now owns 1,555,432 shares of the specialty retailer’s stock valued at $126,068,000 after buying an additional 30,561 shares during the last quarter. Finally, Diversified Trust Co raised its stake in Etsy by 11.5% during the second quarter. Diversified Trust Co now owns 6,459 shares of the specialty retailer’s stock worth $381,000 after acquiring an additional 668 shares during the period. Institutional investors and hedge funds own 99.53% of the company’s stock.

About Etsy

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.