Etsy (NASDAQ:ETSY) Price Target Cut to $140.00 by Analysts at Oppenheimer

Etsy (NASDAQ:ETSYGet Rating) had its price target cut by Oppenheimer from $175.00 to $140.00 in a research note issued to investors on Thursday, The Fly reports. Oppenheimer’s target price would suggest a potential upside of 62.07% from the company’s current price.

Several other research analysts also recently weighed in on ETSY. Truist Financial decreased their price target on shares of Etsy from $274.00 to $230.00 and set a “buy” rating on the stock in a research report on Thursday, February 10th. Jefferies Financial Group cut their target price 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. StockNews.com cut shares of Etsy from a “hold” rating to a “sell” rating in a research note on Tuesday, April 19th. Morgan Stanley cut their target price on shares of Etsy from $154.00 to $113.00 in a research note on Thursday. Finally, Needham & Company LLC cut their target price on shares of Etsy from $280.00 to $150.00 in a research note on Thursday. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $186.16.

Shares of ETSY stock opened at $86.38 on Thursday. Etsy has a 12-month low of $81.11 and a 12-month high of $307.75. The company has a current ratio of 2.18, a quick ratio of 2.18 and a debt-to-equity ratio of 3.80. The firm’s 50 day moving average is $124.38 and its 200 day moving average is $178.34. The stock has a market capitalization of $10.97 billion, a P/E ratio of 28.70, a P/E/G ratio of 1.36 and a beta of 1.75.

Etsy (NASDAQ:ETSYGet Rating) last issued its earnings results on Wednesday, May 4th. The specialty retailer reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.01. Etsy had a net margin of 18.49% and a return on equity of 77.23%. The company had revenue of $579.30 million for the quarter, compared to analysts’ expectations of $574.71 million. During the same quarter last year, the company posted $1.00 earnings per share. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. As a group, equities analysts predict that Etsy will post 3.27 earnings per share for the current year.

In related news, CAO Merilee Buckley sold 655 shares of Etsy 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 transaction, the chief accounting officer now directly owns 171 shares of the company’s stock, valued at approximately $22,664.34. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Josh Silverman sold 20,850 shares of Etsy stock in a transaction dated Wednesday, April 27th. The stock was sold at an average price of $98.18, for a total transaction of $2,047,053.00. Following the transaction, the chief executive officer now directly owns 102,707 shares of the company’s stock, valued at $10,083,773.26. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 130,825 shares of company stock valued at $18,298,401. 3.80% of the stock is owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. lifted its holdings in Etsy by 1,113.3% during the 3rd quarter. Principal Financial Group Inc. now owns 2,002,122 shares of the specialty retailer’s stock valued at $416,361,000 after buying an additional 1,837,111 shares in the last quarter. Norges Bank bought a new stake in Etsy during the 4th quarter valued at about $223,388,000. SG Americas Securities LLC lifted its holdings in Etsy by 101.2% during the 1st quarter. SG Americas Securities LLC now owns 7,110 shares of the specialty retailer’s stock valued at $884,000 after buying an additional 606,822 shares in the last quarter. Capital International Investors lifted its holdings in Etsy by 72.8% during the 4th quarter. Capital International Investors now owns 1,369,536 shares of the specialty retailer’s stock valued at $299,846,000 after buying an additional 577,075 shares in the last quarter. Finally, Nikko Asset Management Americas Inc. lifted its holdings in Etsy by 96.3% during the 3rd quarter. Nikko Asset Management Americas Inc. now owns 1,058,791 shares of the specialty retailer’s stock valued at $219,117,000 after buying an additional 519,307 shares in the last quarter. 89.93% of the stock is owned by hedge funds and other institutional investors.

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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