Etsy (NASDAQ:ETSY) Price Target Cut to $115.00 by Analysts at Loop Capital

Etsy (NASDAQ:ETSYGet Rating) had its price target dropped by investment analysts at Loop Capital from $140.00 to $115.00 in a report issued on Thursday, The Fly reports. Loop Capital’s price objective would suggest a potential upside of 8.82% from the company’s previous close.

Other research analysts have also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Etsy in a research report on Friday, March 11th. They issued a “hold” rating and a $145.00 target price on the stock. TheStreet cut shares of Etsy from a “b-” rating to a “c+” rating in a research report on Friday, February 4th. Needham & Company LLC decreased their target price on shares of Etsy from $325.00 to $280.00 and set a “buy” rating on the stock in a research report on Tuesday, January 25th. Oppenheimer cut their price target on shares of Etsy from $215.00 to $175.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 13th. Finally, Stifel Nicolaus cut their price target on shares of Etsy from $230.00 to $200.00 in a research note on Friday, February 25th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $211.05.

Shares of ETSY stock traded down $1.73 on Thursday, hitting $105.68. 22,002 shares of the stock traded hands, compared to its average volume of 3,846,682. The firm’s 50-day moving average price is $133.39 and its two-hundred day moving average price is $187.93. The company has a debt-to-equity ratio of 3.80, a quick ratio of 2.18 and a current ratio of 2.18. The stock has a market capitalization of $13.42 billion, a PE ratio of 30.99, a PEG ratio of 1.40 and a beta of 1.64. Etsy has a twelve month low of $104.71 and a twelve month high of $307.75.

Etsy (NASDAQ:ETSYGet Rating) last announced its quarterly earnings results on Thursday, February 24th. The specialty retailer reported $1.11 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.35. Etsy had a net margin of 21.19% and a return on equity of 83.06%. The firm had revenue of $717.14 million for the quarter, compared to analysts’ expectations of $685.45 million. During the same quarter in the previous year, the company posted $1.08 EPS. The company’s revenue was up 16.2% compared to the same quarter last year. On average, equities research analysts anticipate that Etsy will post 3.29 EPS for the current fiscal year.

In related news, CEO Josh Silverman sold 41,700 shares of the stock in a transaction on Tuesday, March 1st. The stock was sold at an average price of $158.10, for a total transaction of $6,592,770.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Merilee Buckley sold 655 shares of the stock in a transaction on Tuesday, April 5th. The stock was sold at an average price of $132.54, for a total value of $86,813.70. Following the sale, the chief accounting officer now directly owns 171 shares of the company’s stock, valued at $22,664.34. The disclosure for this sale can be found here. Insiders sold 109,975 shares of company stock valued at $16,251,348 over the last three months. Corporate insiders own 3.30% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in ETSY. Amundi Pioneer Asset Management Inc. acquired a new stake in Etsy in the first quarter valued at $1,681,000. Signaturefd LLC lifted its holdings in Etsy by 91.7% in the third quarter. Signaturefd LLC now owns 575 shares of the specialty retailer’s stock valued at $120,000 after acquiring an additional 275 shares during the period. Sigma Planning Corp lifted its holdings in Etsy by 89.6% in the third quarter. Sigma Planning Corp now owns 4,420 shares of the specialty retailer’s stock valued at $919,000 after acquiring an additional 2,089 shares during the period. Commonwealth Equity Services LLC lifted its holdings in Etsy by 3.5% in the third quarter. Commonwealth Equity Services LLC now owns 23,439 shares of the specialty retailer’s stock valued at $4,874,000 after acquiring an additional 784 shares during the period. Finally, Nordea Investment Management AB lifted its holdings in Etsy by 112.8% in the third quarter. Nordea Investment Management AB now owns 150,444 shares of the specialty retailer’s stock valued at $31,476,000 after acquiring an additional 79,751 shares during the period. 89.25% of the stock is owned by institutional investors.

Etsy Company Profile (Get Rating)

Etsy, Inc operates two-sided online marketplaces that connect buyers and sellers primarily in the United States, the United Kingdom, Germany, Canada, Australia, France, and India. 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.

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