Analysts Set Etsy, Inc. (NASDAQ:ETSY) Price Target at $73.68

Shares of Etsy, Inc. (NASDAQ:ETSY) have been assigned a consensus rating of “Hold” from the twenty-three research firms that are covering the company, Marketbeat.com reports. Four equities research analysts have rated the stock with a sell recommendation, eleven have given a hold recommendation, seven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $71.55.

Several analysts have commented on ETSY shares. Oppenheimer cut Etsy from an “outperform” rating to a “market perform” rating in a report on Thursday, August 1st. Piper Sandler reaffirmed a “neutral” rating and set a $56.00 price target on shares of Etsy in a research report on Friday, August 23rd. Loop Capital decreased their price target on shares of Etsy from $50.00 to $45.00 and set a “sell” rating on the stock in a report on Monday, August 12th. Barclays dropped their price objective on Etsy from $67.00 to $60.00 and set an “equal weight” rating for the company in a report on Thursday, May 2nd. Finally, The Goldman Sachs Group lowered their price target on Etsy from $80.00 to $70.00 and set a “neutral” rating for the company in a research report on Thursday, May 2nd.

Insider Buying and Selling

In other news, insider Toni Thompson Nadal sold 1,444 shares of the firm’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $65.68, for a total transaction of $94,841.92. Following the completion of the sale, the insider now directly owns 592 shares in the company, valued at $38,882.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Nicholas Daniel sold 750 shares of Etsy stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $59.74, for a total value of $44,805.00. Following the completion of the sale, the insider now owns 18,833 shares in the company, valued at $1,125,083.42. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Toni Thompson Nadal sold 1,444 shares of the company’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $65.68, for a total transaction of $94,841.92. Following the completion of the sale, the insider now directly owns 592 shares in the company, valued at $38,882.56. 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 quarter. Company insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Etsy

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Norges Bank acquired a new position in Etsy in the fourth quarter worth about $86,494,000. Marshall Wace LLP increased its holdings in shares of Etsy by 304.2% in the 2nd quarter. Marshall Wace LLP now owns 1,402,216 shares of the specialty retailer’s stock valued at $82,703,000 after acquiring an additional 1,055,296 shares during the last quarter. Van ECK Associates Corp raised its position in shares of Etsy by 26.5% during the 4th quarter. Van ECK Associates Corp now owns 4,616,990 shares of the specialty retailer’s stock valued at $374,207,000 after acquiring an additional 967,777 shares in the last quarter. TD Asset Management Inc lifted its stake in Etsy by 260.2% during the fourth quarter. TD Asset Management Inc now owns 1,319,190 shares of the specialty retailer’s stock worth $106,920,000 after purchasing an additional 952,907 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in Etsy by 21.1% in the second quarter. Renaissance Technologies LLC now owns 4,215,370 shares of the specialty retailer’s stock worth $248,623,000 after purchasing an additional 734,200 shares during the period. Institutional investors own 99.53% of the company’s stock.

Etsy Price Performance

Etsy stock opened at $55.23 on Thursday. Etsy has a 12-month low of $51.45 and a 12-month high of $89.58. The stock has a market capitalization of $6.46 billion, a P/E ratio of 25.22, a P/E/G ratio of 5.02 and a beta of 2.02. The firm’s 50-day moving average is $58.17 and its two-hundred day moving average is $63.80.

Etsy (NASDAQ:ETSY) last issued its quarterly earnings results 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 business had revenue of $647.80 million for the quarter, compared to analysts’ expectations of $629.87 million. Etsy had a negative return on equity of 51.94% and a net margin of 10.36%. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.83 EPS. As a group, analysts forecast that Etsy will post 2.43 EPS for the current year.

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.