Brokerages Set Etsy, Inc. (NASDAQ:ETSY) Price Target at $70.61

Shares of Etsy, Inc. (NASDAQ:ETSY) have been given a consensus rating of “Hold” by the twenty-four research firms that are presently covering the stock, MarketBeat reports. Four investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $70.61.

A number of research firms recently commented on ETSY. Wolfe Research began coverage on shares of Etsy in a research note on Tuesday, July 16th. They issued a “peer perform” rating for the company. Piper Sandler reaffirmed a “neutral” rating and issued a $56.00 price objective on shares of Etsy in a research note on Friday, August 23rd. Oppenheimer lowered shares of Etsy from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 1st. Truist Financial reduced their price objective on shares of Etsy from $77.00 to $76.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. Finally, Loop Capital reduced 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.

Insider Transactions at Etsy

In other 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 transaction 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 transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In the last 90 days, insiders have sold 2,000 shares of company stock worth $116,395. 2.60% of the stock is currently owned by company insiders.

Institutional Trading of Etsy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Envestnet Portfolio Solutions Inc. lifted its position in shares of Etsy by 3.8% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 4,368 shares of the specialty retailer’s stock worth $354,000 after purchasing an additional 161 shares in the last quarter. Yousif Capital Management LLC increased its stake in Etsy by 1.1% in the first quarter. Yousif Capital Management LLC now owns 16,384 shares of the specialty retailer’s stock valued at $1,126,000 after purchasing an additional 172 shares in the last quarter. D.A. Davidson & CO. increased its stake in Etsy by 0.9% in the fourth quarter. D.A. Davidson & CO. now owns 19,580 shares of the specialty retailer’s stock valued at $1,587,000 after purchasing an additional 184 shares in the last quarter. Accretive Wealth Partners LLC increased its stake in Etsy by 3.8% in the fourth quarter. Accretive Wealth Partners LLC now owns 6,232 shares of the specialty retailer’s stock valued at $505,000 after purchasing an additional 226 shares in the last quarter. Finally, Exchange Capital Management Inc. increased its stake in Etsy by 1.6% in the first quarter. Exchange Capital Management Inc. now owns 15,364 shares of the specialty retailer’s stock valued at $1,056,000 after purchasing an additional 240 shares in the last quarter. Institutional investors own 99.53% of the company’s stock.

Etsy Stock Performance

Shares of NASDAQ:ETSY opened at $54.00 on Monday. The stock has a market capitalization of $6.31 billion, a price-to-earnings ratio of 24.55, a PEG ratio of 5.10 and a beta of 1.98. Etsy has a 1-year low of $50.63 and a 1-year high of $89.58. The company has a 50 day moving average price of $56.96 and a 200 day moving average price of $61.73.

Etsy (NASDAQ:ETSY) last issued its 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 the consensus estimate 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 business posted $0.83 earnings per share. On average, sell-side analysts expect that Etsy will post 2.38 EPS for the current fiscal year.

About Etsy

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.