Etsy (NASDAQ:ETSY) Price Target Cut to $160.00

Etsy (NASDAQ:ETSYGet Rating) had its price target lowered by Stifel Nicolaus from $200.00 to $160.00 in a research report issued on Monday, The Fly reports. Stifel Nicolaus’ target price would suggest a potential upside of 62.59% from the stock’s previous close.

Several other research analysts also recently issued reports on the company. Loop Capital lowered their price objective on Etsy from $140.00 to $115.00 in a research note on Thursday. Deutsche Bank Aktiengesellschaft assumed coverage on Etsy in a report on Friday, March 11th. They issued a “hold” rating and a $145.00 target price on the stock. Oppenheimer reduced their target price on Etsy from $215.00 to $175.00 and set an “outperform” rating on the stock in a report on Wednesday, April 13th. Jefferies Financial Group cut their price target on Etsy from $275.00 to $240.00 and set a “buy” rating on the stock in a report on Thursday, January 20th. They noted that the move was a valuation call. Finally, BTIG Research cut their price target on Etsy from $230.00 to $195.00 in a report on Friday, February 25th. One analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $208.95.

ETSY stock opened at $98.41 on Monday. The company has a quick ratio of 2.18, a current ratio of 2.18 and a debt-to-equity ratio of 3.80. The company has a market cap of $12.50 billion, a PE ratio of 28.86, a price-to-earnings-growth ratio of 1.24 and a beta of 1.64. Etsy has a 52 week low of $97.46 and a 52 week high of $307.75. The business has a 50-day simple moving average of $131.71 and a 200 day simple moving average of $186.16.

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

In related news, CMO Ryan M. Scott sold 2,323 shares of Etsy stock in a transaction that occurred on Tuesday, April 5th. The stock was sold at an average price of $132.60, for a total transaction of $308,029.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Josh Silverman sold 38,300 shares of Etsy stock in a transaction that occurred on Thursday, March 3rd. The shares were sold at an average price of $158.19, for a total value of $6,058,677.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 109,975 shares of company stock valued at $16,251,348. Corporate insiders own 3.80% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ETSY. Principal Financial Group Inc. boosted its position in shares of Etsy by 1,113.3% during the third quarter. Principal Financial Group Inc. now owns 2,002,122 shares of the specialty retailer’s stock valued at $416,361,000 after purchasing an additional 1,837,111 shares in the last quarter. Flossbach Von Storch AG boosted its holdings in Etsy by 226.7% in the third quarter. Flossbach Von Storch AG now owns 2,189,391 shares of the specialty retailer’s stock worth $455,306,000 after acquiring an additional 1,519,258 shares in the last quarter. Norges Bank bought a new stake in Etsy in the fourth quarter worth $223,388,000. Capital International Investors boosted its holdings in Etsy by 72.8% in the fourth quarter. Capital International Investors now owns 1,369,536 shares of the specialty retailer’s stock worth $299,846,000 after acquiring an additional 577,075 shares in the last quarter. Finally, Nikko Asset Management Americas Inc. boosted its holdings in Etsy by 96.3% in the third quarter. Nikko Asset Management Americas Inc. now owns 1,058,791 shares of the specialty retailer’s stock worth $219,117,000 after acquiring an additional 519,307 shares in the last quarter. Institutional investors own 89.25% of the company’s stock.

About Etsy (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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