Etsy (NASDAQ:ETSY) PT Lowered to $65.00

Etsy (NASDAQ:ETSY) had its price objective decreased by Raymond James from $72.00 to $65.00 in a research note published on Wednesday morning, Benzinga reports. Raymond James currently has an outperform rating on the specialty retailer’s stock.

Several other equities research analysts have also weighed in on ETSY. Truist Financial reissued a “buy” rating and issued a $76.00 price objective on shares of Etsy in a report on Tuesday, September 24th. UBS Group decreased their price objective on Etsy from $65.00 to $58.00 and set a “neutral” rating for the company in a report on Tuesday, October 15th. Loop Capital decreased their price objective on Etsy from $50.00 to $45.00 and set a “sell” rating for the company in a report on Monday, August 12th. Wolfe Research assumed coverage on Etsy in a report on Tuesday, July 16th. They issued a “peer perform” rating for the company. Finally, Needham & Company LLC reissued a “buy” rating and issued a $60.00 price objective on shares of Etsy in a report on Wednesday. Four equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $67.23.

Etsy Price Performance

Shares of Etsy stock opened at $49.64 on Wednesday. Etsy has a 1 year low of $48.07 and a 1 year high of $89.58. The firm has a market cap of $5.80 billion, a PE ratio of 22.67, a P/E/G ratio of 4.99 and a beta of 1.97. The stock has a fifty day moving average price of $53.30 and a 200-day moving average price of $58.97.

Etsy (NASDAQ:ETSY) last announced its earnings results on Wednesday, July 31st. The specialty retailer reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.05). Etsy had a net margin of 10.36% and a negative return on equity of 51.94%. The business had revenue of $647.80 million for the quarter, compared to analysts’ expectations of $629.87 million. During the same period in the prior year, the business earned $0.83 earnings per share. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. As a group, equities analysts anticipate that Etsy will post 2.38 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CAO Merilee Buckley sold 1,676 shares of the business’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $51.11, for a total value of $85,660.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Nicholas Daniel sold 750 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $55.40, for a total value of $41,550.00. Following the completion of the sale, the insider now owns 18,083 shares in the company, valued at $1,001,798.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Merilee Buckley sold 1,676 shares of the business’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $51.11, for a total value of $85,660.36. The disclosure for this sale can be found here. Insiders sold 5,619 shares of company stock worth $300,670 in the last quarter. 2.60% of the stock is owned by insiders.

Institutional Trading of Etsy

Hedge funds and other institutional investors have recently bought and sold shares of the stock. MCF Advisors LLC lifted its position in Etsy by 23,542.9% in the first quarter. MCF Advisors LLC now owns 3,310 shares of the specialty retailer’s stock valued at $227,000 after purchasing an additional 3,296 shares during the last quarter. TD Asset Management Inc lifted its position in Etsy by 16.8% in the first quarter. TD Asset Management Inc now owns 1,540,465 shares of the specialty retailer’s stock valued at $105,861,000 after purchasing an additional 221,275 shares during the last quarter. Everence Capital Management Inc. bought a new stake in Etsy in the third quarter valued at approximately $834,000. Diversified Trust Co lifted its position in Etsy by 11.5% in the second quarter. Diversified Trust Co now owns 6,459 shares of the specialty retailer’s stock valued at $381,000 after purchasing an additional 668 shares during the last quarter. Finally, Advisors Asset Management Inc. lifted its position in Etsy by 12.6% in the first quarter. Advisors Asset Management Inc. now owns 146,865 shares of the specialty retailer’s stock valued at $10,093,000 after purchasing an additional 16,458 shares during the last quarter. Institutional investors own 99.53% of the company’s stock.

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.