Etsy (NASDAQ:ETSY) Price Target Cut to $65.00

Etsy (NASDAQ:ETSY) had its price objective reduced by analysts at Raymond James from $72.00 to $65.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the specialty retailer’s stock. Raymond James’ target price suggests a potential upside of 33.66% from the company’s previous close.

ETSY has been the subject of a number of other reports. Needham & Company LLC reiterated a “buy” rating and set a $60.00 price target on shares of Etsy in a research report on Wednesday. Stifel Nicolaus dropped their price target on shares of Etsy from $65.00 to $64.00 and set a “hold” rating for the company in a research report on Thursday, August 1st. Evercore ISI upgraded shares of Etsy to a “strong-buy” rating in a research report on Thursday, August 1st. UBS Group dropped their price objective on shares of Etsy from $65.00 to $58.00 and set a “neutral” rating for the company in a report on Tuesday, October 15th. Finally, Truist Financial reaffirmed a “buy” rating and set a $76.00 target price on shares of Etsy in a research note on Tuesday, September 24th. Four equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $66.83.

Etsy Trading Down 2.0 %

Etsy stock opened at $48.63 on Wednesday. Etsy has a 12-month low of $48.07 and a 12-month high of $89.58. The stock has a market cap of $5.69 billion, a P/E ratio of 22.21, a PEG ratio of 4.99 and a beta of 1.97. The company has a 50-day moving average price of $53.20 and a 200 day moving average price of $58.90.

Etsy (NASDAQ:ETSY) last announced 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). Etsy had a net margin of 10.36% and a negative return on equity of 51.94%. The company had revenue of $647.80 million for the quarter, compared to analyst estimates of $629.87 million. During the same quarter in the prior year, the business earned $0.83 earnings per share. Etsy’s revenue was up 3.0% on a year-over-year basis. As a group, analysts forecast that Etsy will post 2.38 EPS for the current year.

Insider Activity

In other news, insider Toni Thompson Nadal sold 1,443 shares of the company’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $51.11, for a total value of $73,751.73. Following the completion of the transaction, the insider now owns 592 shares in the company, valued at approximately $30,257.12. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, CAO Merilee Buckley sold 1,676 shares of the stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $51.11, for a total transaction of $85,660.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Toni Thompson Nadal sold 1,443 shares of the stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $51.11, for a total transaction of $73,751.73. Following the sale, the insider now owns 592 shares of the company’s stock, valued at approximately $30,257.12. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,619 shares of company stock worth $300,670. Corporate insiders own 2.60% of the company’s stock.

Institutional Trading of Etsy

A number of large investors have recently bought and sold shares of the business. Blue Trust Inc. raised its position in Etsy by 106.5% during the 3rd quarter. Blue Trust Inc. now owns 448 shares of the specialty retailer’s stock worth $26,000 after buying an additional 231 shares during the last quarter. Sunbelt Securities Inc. raised its position in Etsy by 3,900.0% during the 1st quarter. Sunbelt Securities Inc. now owns 440 shares of the specialty retailer’s stock worth $30,000 after buying an additional 429 shares during the last quarter. UMB Bank n.a. raised its position in Etsy by 112.3% during the 3rd quarter. UMB Bank n.a. now owns 552 shares of the specialty retailer’s stock worth $31,000 after buying an additional 292 shares during the last quarter. Larson Financial Group LLC raised its position in Etsy by 1,576.5% during the 1st quarter. Larson Financial Group LLC now owns 570 shares of the specialty retailer’s stock worth $39,000 after buying an additional 536 shares during the last quarter. Finally, 1620 Investment Advisors Inc. purchased a new position in Etsy during the 2nd quarter worth $42,000. 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.