Etsy (NASDAQ:ETSY) Given New $42.00 Price Target at JPMorgan Chase & Co.

Etsy (NASDAQ:ETSY) had its price target decreased by equities researchers at JPMorgan Chase & Co. from $50.00 to $42.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the specialty retailer’s stock. JPMorgan Chase & Co.‘s price target indicates a potential downside of 4.63% from the company’s previous close.

A number of other analysts also recently weighed in on ETSY. Stifel Nicolaus decreased their price target on shares of Etsy from $56.00 to $51.00 and set a “hold” rating for the company in a research report on Thursday, February 20th. Citigroup decreased their price objective on shares of Etsy from $56.00 to $53.00 and set a “neutral” rating for the company in a report on Thursday, February 20th. Truist Financial cut their target price on shares of Etsy from $70.00 to $67.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Needham & Company LLC reaffirmed a “buy” rating and set a $60.00 price target on shares of Etsy in a research report on Thursday, February 20th. Finally, Bank of America lowered their price objective on Etsy from $55.00 to $50.00 and set a “neutral” rating for the company in a report on Tuesday. Four equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Etsy currently has a consensus rating of “Hold” and a consensus target price of $57.71.

Etsy Price Performance

Etsy stock opened at $44.04 on Tuesday. The firm’s fifty day moving average price is $49.21 and its 200 day moving average price is $52.04. The company has a market capitalization of $4.72 billion, a price-to-earnings ratio of 18.58, a price-to-earnings-growth ratio of 2.57 and a beta of 2.15. Etsy has a 12-month low of $40.05 and a 12-month high of $71.72.

Etsy (NASDAQ:ETSY) last released its quarterly earnings results on Wednesday, February 19th. The specialty retailer reported $1.03 EPS for the quarter, topping the consensus estimate of $0.95 by $0.08. Etsy had a negative return on equity of 46.62% and a net margin of 10.80%. The business had revenue of $852.16 million for the quarter, compared to analysts’ expectations of $861.37 million. During the same quarter in the previous year, the firm posted $0.62 earnings per share. The company’s revenue was up 1.2% compared to the same quarter last year. Analysts forecast that Etsy will post 2.57 earnings per share for the current fiscal year.

Insider Activity

In other Etsy news, insider Nicholas Daniel sold 1,500 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $55.34, for a total transaction of $83,010.00. Following the completion of the transaction, the insider now directly owns 22,198 shares of the company’s stock, valued at approximately $1,228,437.32. This trade represents a 6.33 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Josh Silverman sold 21,666 shares of Etsy stock in a transaction on Monday, February 24th. The shares were sold at an average price of $52.05, for a total value of $1,127,715.30. Following the transaction, the chief executive officer now owns 5,004 shares in the company, valued at approximately $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 over the last three months. Corporate insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Etsy

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

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.