Etsy, Inc. (NASDAQ:ETSY) Receives $64.87 Consensus Target Price from Analysts

Shares of Etsy, Inc. (NASDAQ:ETSY) have been given an average rating of “Hold” by the twenty-four brokerages that are currently covering the firm, Marketbeat reports. Four research analysts have rated the stock with a sell rating, twelve have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $64.87.

ETSY has been the topic of a number of recent analyst reports. Wolfe Research began coverage on Etsy in a research note on Tuesday, July 16th. They issued a “peer perform” rating on the stock. Wedbush reduced their price objective on shares of Etsy from $65.00 to $58.00 and set a “neutral” rating for the company in a research note on Tuesday, October 22nd. Loop Capital lowered their target price on shares of Etsy from $50.00 to $45.00 and set a “sell” rating on the stock in a research note on Monday, August 12th. Wells Fargo & Company cut their target price on shares of Etsy from $47.00 to $44.00 and set an “underweight” rating for the company in a research report on Friday, November 1st. Finally, Barclays lowered their price target on Etsy from $60.00 to $55.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 31st.

Insider Activity

In other news, insider Nicholas Daniel sold 750 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $55.40, for a total value of $41,550.00. Following the sale, the insider now directly owns 18,083 shares in the company, valued at approximately $1,001,798.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, insider Toni Thompson Nadal sold 1,443 shares of Etsy stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $51.11, for a total transaction of $73,751.73. Following the completion of the transaction, the insider now directly owns 592 shares of the company’s stock, valued at $30,257.12. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Nicholas Daniel sold 750 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $55.40, for a total transaction of $41,550.00. Following the sale, the insider now directly owns 18,083 shares in the company, valued at $1,001,798.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,369 shares of company stock worth $280,200. Corporate insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Marshall Wace LLP raised its position in 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 purchasing an additional 1,055,296 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of Etsy by 21.1% in the second quarter. Renaissance Technologies LLC now owns 4,215,370 shares of the specialty retailer’s stock valued at $248,623,000 after buying an additional 734,200 shares during the last quarter. Van ECK Associates Corp lifted its position in Etsy by 14.3% during the 2nd quarter. Van ECK Associates Corp now owns 5,764,064 shares of the specialty retailer’s stock worth $339,964,000 after buying an additional 721,454 shares in the last quarter. Pacer Advisors Inc. grew its holdings in Etsy by 52.3% during the 2nd quarter. Pacer Advisors Inc. now owns 2,100,284 shares of the specialty retailer’s stock worth $123,875,000 after acquiring an additional 721,453 shares during the last quarter. Finally, AQR Capital Management LLC increased its position in Etsy by 76.2% in the 2nd quarter. AQR Capital Management LLC now owns 1,196,932 shares of the specialty retailer’s stock valued at $69,685,000 after acquiring an additional 517,480 shares in the last quarter. 99.53% of the stock is owned by institutional investors and hedge funds.

Etsy Stock Down 0.2 %

NASDAQ ETSY opened at $53.31 on Tuesday. The stock has a market capitalization of $6.00 billion, a PE ratio of 27.20, a price-to-earnings-growth ratio of 6.26 and a beta of 1.99. Etsy has a 12-month low of $47.10 and a 12-month high of $89.58. The company has a 50 day moving average price of $52.37 and a two-hundred day moving average price of $57.58.

Etsy (NASDAQ:ETSY) last issued its quarterly earnings data on Wednesday, October 30th. The specialty retailer reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.09). Etsy had a negative return on equity of 46.79% and a net margin of 9.17%. The business had revenue of $662.40 million during the quarter, compared to the consensus estimate of $652.47 million. During the same quarter in the prior year, the company posted $0.64 earnings per share. The company’s revenue for the quarter was up 4.1% on a year-over-year basis. As a group, equities analysts anticipate that Etsy will post 2.25 EPS for the current year.

Etsy declared that its board has approved a share repurchase program on Wednesday, October 30th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the specialty retailer to repurchase up to 17.8% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

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.