Oppenheimer Increases Etsy (NASDAQ:ETSY) Price Target to $127.00

Etsy (NASDAQ:ETSYGet Rating) had its price target hoisted by analysts at Oppenheimer from $120.00 to $127.00 in a report issued on Thursday, The Fly reports. The firm currently has an “outperform” rating on the specialty retailer’s stock. Oppenheimer’s price objective indicates a potential upside of 22.45% from the stock’s previous close. Oppenheimer also issued estimates for Etsy’s Q3 2022 earnings at $0.45 EPS and FY2022 earnings at $2.10 EPS.

Other equities research analysts also recently issued reports about the company. Evercore ISI decreased their target price on Etsy from $130.00 to $95.00 and set an “outperform” rating on the stock in a research report on Friday, July 1st. Needham & Company LLC cut shares of Etsy from a “buy” rating to a “hold” rating in a research note on Monday, June 27th. Stifel Nicolaus cut their target price on shares of Etsy from $130.00 to $125.00 in a research note on Friday, July 15th. DA Davidson cut their target price on shares of Etsy from $185.00 to $146.00 in a research note on Wednesday, July 20th. Finally, Guggenheim cut their target price on shares of Etsy from $175.00 to $101.00 and set a “buy” rating for the company in a research note on Tuesday, June 28th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $133.20.

Etsy Stock Down 1.1 %

ETSY stock opened at $103.72 on Thursday. Etsy has a twelve month low of $67.01 and a twelve month high of $307.75. The company has a market cap of $13.18 billion, a PE ratio of 34.46, a price-to-earnings-growth ratio of 1.75 and a beta of 1.74. The business’s 50-day simple moving average is $82.50 and its 200 day simple moving average is $111.95. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 3.52.

Etsy (NASDAQ:ETSYGet Rating) last released its earnings results on Wednesday, July 27th. The specialty retailer reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.20. Etsy had a return on equity of 73.57% and a net margin of 18.49%. The business had revenue of $585.20 million for the quarter, compared to the consensus estimate of $556.85 million. During the same period last year, the business earned $0.68 earnings per share. The firm’s revenue for the quarter was up 10.6% compared to the same quarter last year. On average, research analysts anticipate that Etsy will post 2.31 earnings per share for the current year.

Insider Activity

In other news, CEO Josh Silverman sold 20,850 shares of the company’s stock in a transaction dated Wednesday, May 11th. The shares were sold at an average price of $81.34, for a total value of $1,695,939.00. Following the sale, the chief executive officer now directly owns 102,707 shares of the company’s stock, valued at approximately $8,354,187.38. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CMO Ryan M. Scott sold 712 shares of the company’s stock in a transaction dated Friday, July 22nd. The shares were sold at an average price of $100.00, for a total value of $71,200.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Josh Silverman sold 20,850 shares of the company’s stock in a transaction dated Wednesday, May 11th. The shares were sold at an average price of $81.34, for a total transaction of $1,695,939.00. Following the completion of the sale, the chief executive officer now directly owns 102,707 shares in the company, valued at $8,354,187.38. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 111,280 shares of company stock valued at $9,120,392. 3.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Emerald Advisers LLC grew its stake in Etsy by 11.9% in the 2nd quarter. Emerald Advisers LLC now owns 5,836 shares of the specialty retailer’s stock valued at $427,000 after buying an additional 622 shares during the last quarter. Simmons Bank grew its stake in Etsy by 27.6% in the 2nd quarter. Simmons Bank now owns 7,337 shares of the specialty retailer’s stock valued at $537,000 after buying an additional 1,586 shares during the last quarter. SG Americas Securities LLC grew its stake in Etsy by 49.0% in the 2nd quarter. SG Americas Securities LLC now owns 10,595 shares of the specialty retailer’s stock valued at $776,000 after buying an additional 3,485 shares during the last quarter. Walker Asset Management LLC acquired a new position in Etsy in the 2nd quarter valued at about $213,000. Finally, Myriad Asset Management US LP acquired a new position in Etsy in the 2nd quarter valued at about $483,000. Institutional investors and hedge funds 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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