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

Shares of Etsy, Inc. (NASDAQ:ETSY) have been given an average rating of “Hold” by the twenty-six ratings firms that are currently covering the stock, Marketbeat reports. Four analysts have rated the stock with a sell recommendation, fourteen have given a hold recommendation, seven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $62.21.

A number of research analysts recently issued reports on the stock. JMP Securities reiterated a “market perform” rating on shares of Etsy in a research note on Monday, December 16th. Stifel Nicolaus lowered their target price on shares of Etsy from $64.00 to $56.00 and set a “hold” rating on the stock in a research note on Monday, October 28th. Deutsche Bank Aktiengesellschaft lowered shares of Etsy to a “hold” rating and lowered their target price for the company from $45.00 to $43.00 in a research note on Wednesday, February 12th. Wells Fargo & Company decreased their price target on shares of Etsy from $47.00 to $44.00 and set an “underweight” rating on the stock in a research report on Friday, November 1st. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $60.00 price objective on shares of Etsy in a research report on Thursday, October 31st.

Insiders Place Their Bets

In other Etsy news, insider Nicholas Daniel sold 1,500 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $55.34, for a total transaction of $83,010.00. Following the sale, the insider now directly owns 22,198 shares of the company’s stock, valued at approximately $1,228,437.32. This represents a 6.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.60% of the company’s stock.

Institutional Trading of Etsy

Hedge funds have recently modified their holdings of the stock. Blue Trust Inc. grew its stake in shares of Etsy by 106.5% during the third quarter. Blue Trust Inc. now owns 448 shares of the specialty retailer’s stock valued at $26,000 after purchasing an additional 231 shares during the last quarter. Lindbrook Capital LLC grew its stake in shares of Etsy by 55.7% during the fourth quarter. Lindbrook Capital LLC now owns 506 shares of the specialty retailer’s stock valued at $27,000 after purchasing an additional 181 shares during the last quarter. True Wealth Design LLC grew its stake in shares of Etsy by 112.7% during the fourth quarter. True Wealth Design LLC now owns 551 shares of the specialty retailer’s stock valued at $29,000 after purchasing an additional 292 shares during the last quarter. UMB Bank n.a. grew its stake in shares of Etsy by 112.3% during the third quarter. UMB Bank n.a. now owns 552 shares of the specialty retailer’s stock valued at $31,000 after purchasing an additional 292 shares during the last quarter. Finally, Hurley Capital LLC bought a new stake in shares of Etsy during the fourth quarter valued at approximately $32,000. 99.53% of the stock is owned by institutional investors.

Etsy Stock Down 10.1 %

Shares of ETSY opened at $51.53 on Thursday. The company’s fifty day moving average is $54.73 and its 200-day moving average is $53.83. Etsy has a 12 month low of $47.10 and a 12 month high of $78.65. The firm has a market cap of $5.80 billion, a price-to-earnings ratio of 26.29, a price-to-earnings-growth ratio of 2.83 and a beta of 2.00.

Etsy (NASDAQ:ETSY) last posted its earnings results on Wednesday, February 19th. The specialty retailer reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.08. Etsy had a net margin of 9.17% and a negative return on equity of 46.79%. The business had revenue of $852.16 million for the quarter, compared to analyst estimates of $861.37 million. During the same period last year, the business posted $0.62 EPS. Etsy’s revenue was up 1.2% compared to the same quarter last year. As a group, research analysts predict that Etsy will post 2.25 earnings per share for the current fiscal year.

Etsy announced that its Board of Directors has authorized a stock buyback program on Wednesday, October 30th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the specialty retailer to purchase up to 17.8% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

About Etsy

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.