Etsy (NASDAQ:ETSY) Given New $150.00 Price Target at Truist Financial

Etsy (NASDAQ:ETSYGet Rating) had its price objective reduced by equities researchers at Truist Financial from $220.00 to $150.00 in a note issued to investors on Monday, The Fly reports. Truist Financial’s price target indicates a potential upside of 73.65% from the company’s previous close.

A number of other equities analysts have also recently commented on ETSY. TheStreet cut Etsy from a “b-” rating to a “c+” rating in a report on Friday, February 4th. Morgan Stanley reduced their price target on Etsy from $154.00 to $113.00 in a report on Thursday. Needham & Company LLC reduced their price target on Etsy from $280.00 to $150.00 in a report on Thursday. Deutsche Bank Aktiengesellschaft reduced their price target on Etsy from $120.00 to $100.00 in a report on Friday. Finally, BTIG Research decreased their target price on Etsy from $195.00 to $140.00 and set a “buy” rating on the stock in a research report on Monday, May 2nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $181.95.

NASDAQ:ETSY opened at $86.38 on Monday. The company has a debt-to-equity ratio of 3.52, a quick ratio of 2.18 and a current ratio of 2.68. The stock’s 50-day simple moving average is $124.38 and its 200 day simple moving average is $177.55. The company has a market cap of $10.97 billion, a P/E ratio of 28.70, a P/E/G ratio of 1.07 and a beta of 1.75. Etsy has a 52-week low of $81.11 and a 52-week high of $307.75.

Etsy (NASDAQ:ETSYGet Rating) last released its earnings results on Wednesday, May 4th. The specialty retailer reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.01. The business had revenue of $579.30 million for the quarter, compared to the consensus estimate of $574.71 million. Etsy had a return on equity of 73.57% and a net margin of 18.49%. Etsy’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.00 earnings per share. As a group, equities analysts predict that Etsy will post 3.04 earnings per share for the current fiscal year.

In other Etsy news, CAO Merilee Buckley sold 655 shares of the stock in a transaction dated Tuesday, April 5th. The stock was sold at an average price of $132.54, for a total value of $86,813.70. Following the completion of the transaction, the chief accounting officer now directly owns 171 shares in the company, valued at $22,664.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Josh Silverman sold 41,700 shares of the stock in a transaction dated Tuesday, March 1st. The shares were sold at an average price of $158.10, for a total value of $6,592,770.00. The disclosure for this sale can be found here. Insiders sold 130,825 shares of company stock worth $18,298,401 over the last ninety days. 3.30% of the stock is currently owned by insiders.

Institutional investors have recently bought and sold shares of the business. CVA Family Office LLC bought a new position in Etsy in the fourth quarter valued at about $26,000. Future Financial Wealth Managment LLC bought a new position in shares of Etsy during the fourth quarter worth about $26,000. Covestor Ltd bought a new position in shares of Etsy during the fourth quarter worth about $29,000. Quent Capital LLC bought a new position in shares of Etsy during the fourth quarter worth about $30,000. Finally, Kings Point Capital Management bought a new position in shares of Etsy during the third quarter worth about $31,000. 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.

See Also

The Fly logo

Analyst Recommendations for Etsy (NASDAQ:ETSY)

Receive News & Ratings for Etsy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Etsy and related companies with MarketBeat.com's FREE daily email newsletter.