Etsy (NASDAQ:ETSY) Earns Market Perform Rating from JMP Securities

Etsy (NASDAQ:ETSY)‘s stock had its “market perform” rating reaffirmed by JMP Securities in a research note issued to investors on Monday,Benzinga reports.

A number of other equities analysts have also recently commented on ETSY. UBS Group lowered their price target on Etsy from $65.00 to $58.00 and set a “neutral” rating for the company in a report on Tuesday, October 15th. Raymond James lowered their target price on Etsy from $72.00 to $65.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Truist Financial reduced their price target on shares of Etsy from $76.00 to $70.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Moffett Nathanson increased their price objective on shares of Etsy from $60.00 to $61.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $60.00 target price on shares of Etsy in a research note on Thursday, October 31st. Four investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $63.17.

Etsy Stock Down 1.0 %

ETSY opened at $60.97 on Monday. Etsy has a twelve month low of $47.10 and a twelve month high of $89.58. The stock has a market capitalization of $6.86 billion, a price-to-earnings ratio of 31.11, a P/E/G ratio of 6.96 and a beta of 1.99. The company has a 50-day simple moving average of $53.04 and a 200 day simple moving average of $55.98.

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

Etsy declared that its board has initiated a stock repurchase program on Wednesday, October 30th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the specialty retailer to reacquire up to 17.8% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are undervalued.

Insider Transactions at Etsy

In other Etsy news, insider Nicholas Daniel sold 750 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $53.15, for a total value of $39,862.50. Following the transaction, the insider now directly owns 25,121 shares of the company’s stock, valued at approximately $1,335,181.15. The trade was a 2.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Toni Thompson Nadal sold 1,443 shares of the firm’s stock in a transaction that occurred 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 directly owns 592 shares of the company’s stock, valued at approximately $30,257.12. This trade represents a 70.91 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,069 shares of company stock worth $261,888. Company insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Etsy

Several institutional investors have recently made changes to their positions in ETSY. Blue Trust Inc. increased its position in Etsy by 106.5% in the 3rd quarter. Blue Trust Inc. now owns 448 shares of the specialty retailer’s stock valued at $26,000 after buying an additional 231 shares in the last quarter. UMB Bank n.a. increased its holdings in shares of Etsy by 112.3% during the third quarter. UMB Bank n.a. now owns 552 shares of the specialty retailer’s stock valued at $31,000 after acquiring an additional 292 shares in the last quarter. 1620 Investment Advisors Inc. acquired a new position in shares of Etsy during the second quarter worth approximately $42,000. Capital Performance Advisors LLP bought a new position in shares of Etsy in the 3rd quarter worth $43,000. Finally, Prospera Private Wealth LLC acquired a new stake in Etsy in the 3rd quarter valued at $59,000. 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.