Cantor Fitzgerald Reiterates Neutral Rating for Etsy (NASDAQ:ETSY)

Etsy (NASDAQ:ETSY)‘s stock had its “neutral” rating restated by equities researchers at Cantor Fitzgerald in a research note issued to investors on Monday, Benzinga reports. They presently have a $50.00 price objective on the specialty retailer’s stock. Cantor Fitzgerald’s target price would indicate a potential downside of 4.40% from the stock’s previous close.

Other analysts have also recently issued research reports about the stock. Loop Capital dropped their price objective on shares of Etsy from $50.00 to $45.00 and set a “sell” rating for the company in a research note on Monday, August 12th. Oppenheimer lowered shares of Etsy from an “outperform” rating to a “market perform” rating in a report on Thursday, August 1st. Evercore ISI upgraded shares of Etsy to a “strong-buy” rating in a report on Thursday, August 1st. Truist Financial reiterated a “buy” rating and issued a $76.00 target price on shares of Etsy in a report on Tuesday, September 24th. Finally, Wedbush restated a “neutral” rating and issued a $65.00 price objective on shares of Etsy in a report on Monday, July 22nd. Four analysts have rated the stock with a sell rating, thirteen have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Etsy presently has a consensus rating of “Hold” and an average price target of $70.61.

Etsy Stock Down 5.8 %

Shares of ETSY stock opened at $52.30 on Monday. The company’s 50 day moving average is $55.72 and its 200 day moving average is $60.80. Etsy has a 52-week low of $50.63 and a 52-week high of $89.58. The firm has a market cap of $6.12 billion, a price-to-earnings ratio of 23.88, a PEG ratio of 5.39 and a beta of 1.97.

Etsy (NASDAQ:ETSY) last posted its quarterly earnings data on Wednesday, July 31st. The specialty retailer reported $0.41 EPS for the quarter, missing the consensus estimate 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 negative return on equity of 51.94% and a net margin of 10.36%. The company’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.83 earnings per share. Analysts anticipate that Etsy will post 2.38 EPS for the current fiscal year.

Insider Transactions at Etsy

In other news, insider Nicholas Daniel sold 750 shares of the firm’s 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 in the company, valued at approximately $1,001,798.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last quarter, insiders sold 2,000 shares of company stock worth $116,395. Company insiders own 2.60% of the company’s stock.

Institutional Trading of Etsy

Hedge funds and other institutional investors have recently made changes to their positions in the stock. MCF Advisors LLC increased its holdings in Etsy by 23,542.9% during the 1st quarter. MCF Advisors LLC now owns 3,310 shares of the specialty retailer’s stock valued at $227,000 after acquiring an additional 3,296 shares in the last quarter. TD Asset Management Inc raised its holdings in Etsy by 16.8% in the first quarter. TD Asset Management Inc now owns 1,540,465 shares of the specialty retailer’s stock valued at $105,861,000 after acquiring an additional 221,275 shares in the last quarter. Diversified Trust Co raised its holdings in Etsy by 11.5% in the second quarter. Diversified Trust Co now owns 6,459 shares of the specialty retailer’s stock valued at $381,000 after acquiring an additional 668 shares in the last quarter. Advisors Asset Management Inc. increased its stake in Etsy by 12.6% during the first quarter. Advisors Asset Management Inc. now owns 146,865 shares of the specialty retailer’s stock valued at $10,093,000 after purchasing an additional 16,458 shares during the last quarter. Finally, SG Americas Securities LLC increased its stake in Etsy by 184.3% during the first quarter. SG Americas Securities LLC now owns 56,107 shares of the specialty retailer’s stock valued at $3,856,000 after purchasing an additional 36,372 shares during the last quarter. Institutional investors and hedge funds 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.