Etsy, Inc. (NASDAQ:ETSY) Receives $58.38 Average Price Target from Analysts

Etsy, Inc. (NASDAQ:ETSY) has earned a consensus rating of “Hold” from the twenty-seven analysts that are currently covering the stock, Marketbeat.com reports. Four equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $58.38.

Several brokerages recently commented on ETSY. Canaccord Genuity Group decreased their price objective on shares of Etsy from $105.00 to $76.00 and set a “buy” rating for the company in a research report on Thursday, February 20th. Wells Fargo & Company reduced their target price on Etsy from $47.00 to $46.00 and set an “underweight” rating for the company in a research note on Wednesday, April 2nd. JPMorgan Chase & Co. started coverage on Etsy in a research note on Wednesday, March 19th. They set a “neutral” rating and a $50.00 price target on the stock. Truist Financial decreased their target price on Etsy from $70.00 to $67.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Finally, Citigroup reduced their price target on shares of Etsy from $56.00 to $53.00 and set a “neutral” rating for the company in a research report on Thursday, February 20th.

Etsy Stock Performance

NASDAQ ETSY opened at $44.42 on Friday. The company’s 50-day simple moving average is $50.45 and its two-hundred day simple moving average is $52.42. Etsy has a one year low of $43.43 and a one year high of $71.72. The company has a market capitalization of $4.76 billion, a price-to-earnings ratio of 18.74, a price-to-earnings-growth ratio of 2.57 and a beta of 2.15.

Etsy (NASDAQ:ETSY) last issued its quarterly earnings data on Wednesday, February 19th. The specialty retailer reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.08. The company had revenue of $852.16 million for the quarter, compared to the consensus estimate of $861.37 million. Etsy had a negative return on equity of 46.62% and a net margin of 10.80%. The firm’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.62 earnings per share. Equities analysts expect that Etsy will post 2.57 earnings per share for the current fiscal year.

Insider Transactions at Etsy

In other Etsy news, insider Toni Thompson Nadal sold 1,444 shares of Etsy stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $48.30, for a total value of $69,745.20. Following the completion of the transaction, the insider now directly owns 592 shares of the company’s stock, valued at $28,593.60. The trade was a 70.92 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Josh Silverman sold 21,666 shares of the business’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $52.05, for a total transaction of $1,127,715.30. Following the sale, the chief executive officer now owns 5,004 shares in the company, valued at $260,458.20. This trade represents a 81.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 50,952 shares of company stock worth $2,554,620 in the last 90 days. Insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Lindbrook Capital LLC increased its position in shares of Etsy by 55.7% in the 4th quarter. Lindbrook Capital LLC now owns 506 shares of the specialty retailer’s stock valued at $27,000 after purchasing an additional 181 shares during the last quarter. True Wealth Design LLC increased its holdings in shares of Etsy by 112.7% in the 4th quarter. True Wealth Design LLC now owns 551 shares of the specialty retailer’s stock valued at $29,000 after acquiring an additional 292 shares during the last quarter. Hurley Capital LLC acquired a new stake in shares of Etsy during the 4th quarter worth about $32,000. Strategic Investment Solutions Inc. IL purchased a new stake in Etsy during the fourth quarter worth approximately $34,000. Finally, Summit Securities Group LLC acquired a new position in Etsy in the fourth quarter valued at approximately $37,000. 99.53% of the stock is currently owned by hedge funds and other institutional investors.

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.