Cantor Fitzgerald Issues Pessimistic Forecast for Etsy (NASDAQ:ETSY) Stock Price

Etsy (NASDAQ:ETSY) had its price objective lowered by Cantor Fitzgerald from $46.00 to $43.00 in a research report released on Thursday,Benzinga reports. The brokerage currently has a neutral rating on the specialty retailer’s stock.

Several other brokerages also recently commented on ETSY. Jefferies Financial Group raised shares of Etsy from an “underperform” rating to a “hold” rating and increased their price objective for the company from $45.00 to $55.00 in a research note on Monday, January 13th. Barclays dropped their price target on shares of Etsy from $60.00 to $55.00 and set an “equal weight” rating for the company in a research note on Thursday, October 31st. UBS Group dropped their price target on shares of Etsy from $55.00 to $54.00 and set a “neutral” rating for the company in a research note on Thursday. Citigroup raised their price target on shares of Etsy from $54.00 to $56.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Etsy to a “hold” rating and dropped their price target for the company from $45.00 to $43.00 in a research note on Wednesday, February 12th. Four analysts have rated the stock with a sell rating, fourteen have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $60.08.

Etsy Price Performance

Shares of NASDAQ:ETSY opened at $51.40 on Thursday. The company has a market cap of $5.78 billion, a price-to-earnings ratio of 26.22, a PEG ratio of 2.83 and a beta of 2.00. The firm has a 50 day simple moving average of $54.58 and a 200 day simple moving average of $53.81. Etsy has a one year low of $47.10 and a one year high of $78.65.

Etsy (NASDAQ:ETSY) last issued its quarterly earnings data on Wednesday, February 19th. The specialty retailer reported $1.03 EPS for the quarter, beating the consensus estimate of $0.95 by $0.08. The business had revenue of $852.16 million during the quarter, compared to the consensus estimate of $861.37 million. Etsy had a net margin of 9.17% and a negative return on equity of 46.79%. The firm’s revenue was up 1.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.62 EPS. As a group, analysts expect that Etsy will post 2.25 EPS for the current year.

Etsy announced that its board has approved a share repurchase program on Wednesday, October 30th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the specialty retailer to purchase up to 17.8% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In other Etsy news, insider Nicholas Daniel sold 1,500 shares of the firm’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $55.34, for a total value of $83,010.00. Following the completion of the sale, the insider now directly owns 22,198 shares in the company, valued at approximately $1,228,437.32. This trade represents a 6.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Etsy

A number of large investors have recently bought and sold shares of ETSY. Blue Trust Inc. grew its holdings in shares of Etsy by 106.5% during the third quarter. Blue Trust Inc. now owns 448 shares of the specialty retailer’s stock valued at $26,000 after buying an additional 231 shares during the last quarter. Lindbrook Capital LLC grew its holdings in shares of Etsy by 55.7% during the fourth quarter. Lindbrook Capital LLC now owns 506 shares of the specialty retailer’s stock valued at $27,000 after buying an additional 181 shares during the last quarter. True Wealth Design LLC grew its holdings in shares of Etsy by 112.7% during the fourth quarter. True Wealth Design LLC now owns 551 shares of the specialty retailer’s stock valued at $29,000 after buying an additional 292 shares during the last quarter. Hurley Capital LLC acquired a new position in shares of Etsy during the fourth quarter valued at about $32,000. Finally, Strategic Investment Solutions Inc. IL acquired a new position in shares of Etsy during the fourth quarter valued at about $34,000. 99.53% of the stock is currently owned by institutional investors and hedge funds.

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.