Etsy, Inc. (NASDAQ:ETSY) Receives Average Rating of “Hold” from Analysts

Shares of Etsy, Inc. (NASDAQ:ETSY) have received an average rating of “Hold” from the thirty-one ratings firms that are presently covering the company, MarketBeat reports. Three analysts have rated the stock with a sell recommendation, eighteen have assigned a hold recommendation, nine have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $60.50.

ETSY has been the subject of several research analyst reports. Jefferies Financial Group increased their target price on Etsy from $65.00 to $70.00 and gave the stock a “hold” rating in a research report on Friday. Arete Research upgraded Etsy from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 7th. Stifel Nicolaus raised their price target on Etsy from $45.00 to $66.00 and gave the company a “hold” rating in a report on Tuesday, July 29th. Raymond James Financial raised their price target on Etsy from $50.00 to $70.00 and gave the company an “outperform” rating in a report on Tuesday, July 22nd. Finally, Morgan Stanley lifted their target price on Etsy from $54.00 to $61.00 and gave the stock an “equal weight” rating in a report on Monday.

Etsy Stock Up 1.2%

NASDAQ ETSY opened at $71.32 on Tuesday. The stock’s 50-day moving average price is $63.56 and its 200-day moving average price is $56.27. Etsy has a 52 week low of $40.05 and a 52 week high of $76.51. The company has a market capitalization of $7.07 billion, a P/E ratio of 57.52, a price-to-earnings-growth ratio of 10.65 and a beta of 1.85.

Etsy (NASDAQ:ETSY) last posted its quarterly earnings data on Wednesday, July 30th. The specialty retailer reported $0.25 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.29). Etsy had a negative return on equity of 31.10% and a net margin of 5.78%.The company had revenue of $672.66 million during the quarter, compared to the consensus estimate of $645.16 million. During the same period last year, the business earned $0.41 EPS. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. Research analysts anticipate that Etsy will post 2.57 EPS for the current year.

Insider Transactions at Etsy

In related news, insider Goyal Kruti Patel sold 11,944 shares of the firm’s stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $59.31, for a total transaction of $708,398.64. Following the completion of the sale, the insider directly owned 47,529 shares of the company’s stock, valued at approximately $2,818,944.99. This trade represents a 20.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director M Michele Burns sold 14,464 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $62.82, for a total value of $908,628.48. Following the sale, the director directly owned 19,964 shares of the company’s stock, valued at $1,254,138.48. This represents a 42.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 542,667 shares of company stock worth $35,462,857. 2.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Etsy

Institutional investors and hedge funds have recently modified their holdings of the business. Heritage Wealth Advisors lifted its stake in shares of Etsy by 476.5% during the 2nd quarter. Heritage Wealth Advisors now owns 490 shares of the specialty retailer’s stock worth $25,000 after acquiring an additional 405 shares during the last quarter. Signaturefd LLC raised its position in Etsy by 52.7% during the 2nd quarter. Signaturefd LLC now owns 556 shares of the specialty retailer’s stock valued at $28,000 after purchasing an additional 192 shares in the last quarter. Elevation Point Wealth Partners LLC bought a new stake in Etsy during the 2nd quarter valued at $35,000. SVB Wealth LLC bought a new stake in Etsy during the 1st quarter valued at $36,000. Finally, Allworth Financial LP raised its position in Etsy by 47.6% during the 1st quarter. Allworth Financial LP now owns 769 shares of the specialty retailer’s stock valued at $35,000 after purchasing an additional 248 shares in the last quarter. 99.53% of the stock is owned by institutional investors.

Etsy Company Profile

Etsy, Inc, together with its subsidiaries, operates two-sided online marketplaces that connect buyers and sellers in the United States, the United Kingdom, Germany, Canada, Australia, and France. 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.