Etsy, Inc. (NASDAQ:ETSY) Receives Consensus Recommendation of “Hold” from Brokerages

Etsy, Inc. (NASDAQ:ETSY) has received a consensus recommendation of “Hold” from the thirty analysts that are currently covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $63.72.

Several research analysts have commented on the company. Stifel Nicolaus cut their price objective on Etsy from $65.00 to $62.00 and set a “hold” rating on the stock in a research report on Tuesday. Wells Fargo & Company lowered their target price on Etsy from $58.00 to $52.00 and set an “underweight” rating for the company in a research note on Thursday, October 30th. Bank of America boosted their price target on Etsy from $71.00 to $75.00 and gave the stock a “neutral” rating in a research report on Friday, October 10th. Citigroup reaffirmed a “buy” rating on shares of Etsy in a research report on Tuesday, December 30th. Finally, Cantor Fitzgerald reduced their target price on shares of Etsy from $64.00 to $55.00 and set a “neutral” rating on the stock in a research report on Thursday, January 8th.

Insider Activity

In other news, CAO Merilee Buckley sold 11,827 shares of the firm’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $61.47, for a total transaction of $727,005.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Richard Edward Colburn III sold 3,200 shares of the business’s stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $57.80, for a total value of $184,960.00. Following the completion of the transaction, the insider owned 4,387 shares in the company, valued at approximately $253,568.60. This trade represents a 42.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 154,056 shares of company stock valued at $8,931,918. Corporate insiders own 2.80% of the company’s stock.

Institutional Trading of Etsy

Several institutional investors and hedge funds have recently bought and sold shares of ETSY. Chicago Partners Investment Group LLC grew its stake in shares of Etsy by 90.4% in the second quarter. Chicago Partners Investment Group LLC now owns 9,383 shares of the specialty retailer’s stock worth $471,000 after purchasing an additional 4,455 shares in the last quarter. Friedenthal Financial acquired a new stake in Etsy in the second quarter worth about $903,000. Monaco Asset Management SAM bought a new position in Etsy in the 2nd quarter valued at about $1,254,000. Y Intercept Hong Kong Ltd acquired a new position in Etsy during the 2nd quarter valued at about $8,671,000. Finally, Ground Swell Capital LLC bought a new stake in shares of Etsy during the 2nd quarter worth about $383,000. Institutional investors and hedge funds own 99.53% of the company’s stock.

Etsy Stock Performance

NASDAQ ETSY opened at $57.10 on Thursday. Etsy has a one year low of $40.05 and a one year high of $76.51. The company’s 50 day moving average price is $56.64 and its 200 day moving average price is $60.55. The firm has a market capitalization of $5.64 billion, a price-to-earnings ratio of 46.05, a PEG ratio of 10.65 and a beta of 1.74.

Etsy (NASDAQ:ETSY) last released its quarterly earnings data on Wednesday, October 29th. The specialty retailer reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.06. The company had revenue of $678.03 million during the quarter, compared to analyst estimates of $655.83 million. Etsy had a net margin of 5.78% and a negative return on equity of 31.10%. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.45 earnings per share. Sell-side analysts forecast that Etsy will post 2.57 EPS for the current fiscal year.

Etsy declared that its Board of Directors has approved a share repurchase program on Thursday, December 18th that permits the company to repurchase $750.00 million in outstanding shares. This repurchase authorization permits the specialty retailer to buy up to 14.2% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Etsy Company Profile

Etsy, Inc (NASDAQ: ETSY) operates a global e-commerce marketplace focused on handmade, vintage and unique goods. The platform connects individual artisans, small businesses and collectors with buyers seeking one-of-a-kind items, ranging from handcrafted jewelry and clothing to home décor and art supplies. Etsy’s revenue is primarily generated through listing fees, transaction fees on sales and optional seller services such as advertising and shipping labels.

Founded in 2005 and headquartered in Brooklyn, New York, Etsy has cultivated a community-driven ethos, encouraging sustainable practices and personal entrepreneurship.