Morgan Stanley Cuts Etsy (NASDAQ:ETSY) Price Target to $113.00

Etsy (NASDAQ:ETSYGet Rating) had its price objective reduced by equities researchers at Morgan Stanley from $154.00 to $113.00 in a report released on Thursday, The Fly reports. Morgan Stanley’s price target would suggest a potential upside of 3.36% from the stock’s current price.

Several other analysts have also recently issued reports on ETSY. Jefferies Financial Group lowered their price objective on shares of Etsy from $275.00 to $240.00 and set a “buy” rating for the company in a research note on Thursday, January 20th. They noted that the move was a valuation call. 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 price target on shares of Etsy from $325.00 to $280.00 and set a “buy” rating for the company in a research report on Tuesday, January 25th. Wedbush decreased their price target on shares of Etsy from $250.00 to $185.00 in a research report on Friday, February 25th. Finally, BTIG Research decreased their price target on shares of Etsy from $195.00 to $140.00 and set a “buy” rating for the company in a research report on Monday. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $203.89.

Shares of NASDAQ ETSY opened at $109.33 on Thursday. Etsy has a 52-week low of $90.63 and a 52-week high of $307.75. The firm has a fifty day moving average of $126.91 and a 200-day moving average of $180.26. The stock has a market capitalization of $13.88 billion, a PE ratio of 32.06, a P/E/G ratio of 1.19 and a beta of 1.75. The company has a quick ratio of 2.18, a current ratio of 2.18 and a debt-to-equity ratio of 3.80.

Etsy (NASDAQ:ETSYGet Rating) last announced its quarterly earnings data on Wednesday, May 4th. The specialty retailer reported $0.60 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.01. Etsy had a net margin of 21.19% and a return on equity of 83.06%. The company had revenue of $579.30 million during the quarter, compared to analysts’ expectations of $574.71 million. During the same period in the previous year, the company earned $1.00 EPS. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. Equities research analysts expect that Etsy will post 3.26 EPS for the current fiscal year.

In other news, CEO Josh Silverman sold 38,300 shares of the company’s stock in a transaction dated Thursday, March 3rd. The shares were sold at an average price of $158.19, for a total value of $6,058,677.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Merilee Buckley sold 655 shares of the company’s stock in a transaction dated Tuesday, April 5th. The shares were sold at an average price of $132.54, for a total transaction of $86,813.70. Following the completion of the sale, the chief accounting officer now owns 171 shares in the company, valued at approximately $22,664.34. The disclosure for this sale can be found here. Insiders sold a total of 130,825 shares of company stock worth $18,298,401 in the last quarter. 3.80% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Future Financial Wealth Managment LLC acquired a new stake in Etsy during the fourth quarter worth about $26,000. CVA Family Office LLC acquired a new stake in Etsy during the fourth quarter worth about $26,000. Rinkey Investments acquired a new stake in Etsy during the fourth quarter worth about $26,000. American National Bank raised its stake in Etsy by 71.3% during the first quarter. American National Bank now owns 209 shares of the specialty retailer’s stock worth $26,000 after acquiring an additional 87 shares during the period. Finally, Covestor Ltd acquired a new stake in Etsy during the fourth quarter worth about $29,000. Hedge funds and other institutional investors own 89.93% of the company’s stock.

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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