Etsy, Inc. (NASDAQ:ETSY) Given Average Rating of “Hold” by Analysts

Etsy, Inc. (NASDAQ:ETSY) has earned a consensus recommendation of “Hold” from the twenty-five research firms that are currently covering the firm, Marketbeat reports. Four research analysts have rated the stock with a sell recommendation, thirteen 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 updated their coverage on the stock in the last year is $64.71.

ETSY has been the subject of several recent research reports. Piper Sandler reiterated a “neutral” rating and set a $56.00 price target on shares of Etsy in a report on Friday, August 23rd. Loop Capital lowered their target price on shares of Etsy from $50.00 to $45.00 and set a “sell” rating for the company in a report on Monday, August 12th. Citigroup reduced their price objective on shares of Etsy from $65.00 to $54.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. Truist Financial dropped their target price on shares of Etsy from $76.00 to $70.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Finally, UBS Group reduced their target price on Etsy from $65.00 to $58.00 and set a “neutral” rating for the company in a report on Tuesday, October 15th.

Etsy Trading Up 1.0 %

Shares of NASDAQ ETSY opened at $54.86 on Friday. The firm’s 50-day moving average price is $52.03 and its 200-day moving average price is $56.46. The firm has a market capitalization of $6.17 billion, a P/E ratio of 27.99, a P/E/G ratio of 6.41 and a beta of 1.99. Etsy has a 1-year low of $47.10 and a 1-year high of $89.58.

Etsy (NASDAQ:ETSY) last issued its quarterly earnings data on Wednesday, October 30th. The specialty retailer reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.09). The business 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 firm’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.64 earnings per share. Equities research analysts forecast that Etsy will post 2.25 EPS for the current year.

Etsy declared that its Board of Directors has approved a share buyback program on Wednesday, October 30th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the specialty retailer to purchase up to 17.8% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other Etsy news, insider Nicholas Daniel sold 750 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $55.40, for a total value of $41,550.00. Following the transaction, the insider now owns 18,083 shares in the company, valued at approximately $1,001,798.20. The trade was a 3.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Merilee Buckley sold 1,676 shares of the stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $51.11, for a total transaction of $85,660.36. The disclosure for this sale can be found here. Insiders have sold 5,819 shares of company stock valued at $303,438 in the last ninety days. Company insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Etsy

A number of hedge funds and other institutional investors have recently made changes to their positions in ETSY. Teachers Retirement System of The State of Kentucky lifted its position in shares of Etsy by 32.0% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 27,911 shares of the specialty retailer’s stock worth $1,550,000 after purchasing an additional 6,766 shares during the period. Coldstream Capital Management Inc. lifted its holdings in Etsy by 11.6% in the third quarter. Coldstream Capital Management Inc. now owns 4,302 shares of the specialty retailer’s stock worth $239,000 after buying an additional 448 shares during the period. M&T Bank Corp boosted its position in Etsy by 18.8% during the 3rd quarter. M&T Bank Corp now owns 5,600 shares of the specialty retailer’s stock valued at $311,000 after acquiring an additional 885 shares in the last quarter. PYA Waltman Capital LLC grew its holdings in shares of Etsy by 34.3% during the 3rd quarter. PYA Waltman Capital LLC now owns 23,048 shares of the specialty retailer’s stock worth $1,280,000 after acquiring an additional 5,889 shares during the period. Finally, Y Intercept Hong Kong Ltd bought a new position in shares of Etsy in the 3rd quarter worth approximately $4,376,000. Institutional investors own 99.53% of the company’s stock.

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.