Investment Analysts’ Weekly Ratings Changes for Etsy (ETSY)

Etsy (NASDAQ: ETSY) recently received a number of ratings updates from brokerages and research firms:

• 8/12/2024 – Etsy had its price target lowered by analysts at Loop Capital from $50.00 to $45.00. They now have a “sell” rating on the stock.
• 8/1/2024 – Etsy was upgraded by analysts at Evercore ISI to a “strong-buy” rating.
• 8/1/2024 – Etsy was downgraded by analysts at Oppenheimer Holdings Inc. from an “outperform” rating to a “market perform” rating.
• 8/1/2024 – Etsy had its price target lowered by analysts at Stifel Nicolaus from $65.00 to $64.00. They now have a “hold” rating on the stock.
• 8/1/2024 – Etsy had its price target lowered by analysts at Truist Financial Co. from $77.00 to $76.00. They now have a “buy” rating on the stock.
• 7/26/2024 – Etsy had its price target raised by analysts at Truist Financial Co. from $75.00 to $77.00. They now have a “buy” rating on the stock.
• 7/22/2024 – Etsy had its “neutral” rating reaffirmed by analysts at Wedbush. They now have a $65.00 price target on the stock.
• 7/22/2024 – Etsy had its price target lowered by analysts at Stifel Nicolaus from $67.00 to $65.00. They now have a “hold” rating on the stock.
• 7/16/2024 – Etsy is now covered by analysts at Wolfe Research. They set a “peer perform” rating on the stock.
• 6/25/2024 – Etsy had its price target lowered by analysts at Wells Fargo & Company from $58.00 to $56.00. They now have an “underweight” rating on the stock.

Etsy Stock Performance

NASDAQ ETSY traded up $2.75 during trading on Thursday, reaching $54.25. 1,361,061 shares of the company traded hands, compared to its average volume of 3,617,139. The stock’s 50 day moving average price is $59.63 and its two-hundred day moving average price is $65.09. The company has a market cap of $6.34 billion, a price-to-earnings ratio of 24.77, a P/E/G ratio of 5.02 and a beta of 2.02. Etsy, Inc. has a 1-year low of $51.45 and a 1-year high of $89.58.

Etsy (NASDAQ:ETSY) last released its quarterly earnings data on Wednesday, July 31st. The specialty retailer reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.05). The company had revenue of $647.80 million for the quarter, compared to analyst estimates of $629.87 million. Etsy had a net margin of 10.36% and a negative return on equity of 51.94%. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.83 earnings per share. Equities research analysts expect that Etsy, Inc. will post 2.43 EPS for the current fiscal year.

Insider Transactions at Etsy

In other news, insider Nicholas Daniel sold 750 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $59.74, for a total value of $44,805.00. Following the transaction, the insider now directly owns 18,833 shares of the company’s stock, valued at approximately $1,125,083.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Etsy news, insider Toni Thompson Nadal sold 1,444 shares of the company’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $65.68, for a total transaction of $94,841.92. Following the transaction, the insider now owns 592 shares of the company’s stock, valued at approximately $38,882.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Nicholas Daniel sold 750 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $59.74, for a total value of $44,805.00. Following the transaction, the insider now directly owns 18,833 shares in the company, valued at approximately $1,125,083.42. The disclosure for this sale can be found here. Insiders have sold 2,694 shares of company stock valued at $169,687 in the last three months. 2.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ETSY. Sunbelt Securities Inc. raised its position in shares of Etsy by 3,900.0% during the 1st quarter. Sunbelt Securities Inc. now owns 440 shares of the specialty retailer’s stock valued at $30,000 after acquiring an additional 429 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Etsy by 402.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 447 shares of the specialty retailer’s stock valued at $36,000 after acquiring an additional 358 shares during the last quarter. Larson Financial Group LLC raised its position in shares of Etsy by 1,576.5% during the 1st quarter. Larson Financial Group LLC now owns 570 shares of the specialty retailer’s stock valued at $39,000 after acquiring an additional 536 shares during the last quarter. Principal Securities Inc. bought a new stake in shares of Etsy during the 4th quarter valued at $47,000. Finally, Harvest Fund Management Co. Ltd bought a new stake in shares of Etsy during the 4th quarter valued at $49,000. Institutional investors and hedge funds own 99.53% of the company’s stock.

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.