Brokerages Set Etsy Inc (NYSE:ETSY) PT at $60.80
by Mitch Edgeman · The Markets DailyEtsy Inc (NYSE:ETSY – Get Free Report) has received a consensus recommendation of “Hold” from the thirty brokerages that are presently covering the company, MarketBeat.com reports. Three analysts have rated the stock with a sell rating, seventeen have issued a hold rating, eight have issued a buy rating and two have issued a strong buy rating on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $60.80.
A number of research analysts have weighed in on the stock. UBS Group reduced their price target on shares of Etsy from $74.00 to $53.00 and set a “neutral” rating on the stock in a research report on Friday, February 20th. BTIG Research cut their target price on shares of Etsy from $74.00 to $65.00 and set a “buy” rating on the stock in a research note on Thursday, February 19th. Truist Financial lifted their target price on shares of Etsy from $80.00 to $83.00 and gave the company a “buy” rating in a report on Friday, February 20th. Canaccord Genuity Group decreased their price target on shares of Etsy from $80.00 to $72.00 and set a “buy” rating for the company in a research report on Friday, February 20th. Finally, Needham & Company LLC lowered their price target on Etsy from $76.00 to $65.00 and set a “buy” rating for the company in a report on Friday, February 20th.
Get Our Latest Research Report on ETSY
Insider Activity
In related news, Director Charles Andrew Ballard sold 1,790 shares of the business’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $55.74, for a total transaction of $99,774.60. Following the transaction, the director directly owned 4,006 shares of the company’s stock, valued at approximately $223,294.44. The trade was a 30.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Josh Silverman sold 21,666 shares of the company’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $53.26, for a total value of $1,153,931.16. Following the completion of the transaction, the insider owned 90,661 shares of the company’s stock, valued at approximately $4,828,604.86. This represents a 19.29% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 116,058 shares of company stock worth $6,576,362. 2.80% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the company. EFG International AG acquired a new stake in Etsy during the 4th quarter valued at $33,000. Elevation Point Wealth Partners LLC acquired a new position in Etsy in the 2nd quarter worth $35,000. Employees Retirement System of Texas acquired a new position in Etsy in the 2nd quarter worth $47,000. SJS Investment Consulting Inc. boosted its position in Etsy by 12,600.0% in the 3rd quarter. SJS Investment Consulting Inc. now owns 762 shares of the company’s stock valued at $51,000 after buying an additional 756 shares during the last quarter. Finally, Abich Financial Wealth Management LLC purchased a new position in Etsy in the 3rd quarter valued at about $51,000. 99.53% of the stock is owned by institutional investors and hedge funds.
Etsy Trading Down 3.7%
Etsy stock opened at $52.74 on Friday. The stock has a market cap of $5.08 billion, a P/E ratio of 40.26, a price-to-earnings-growth ratio of 3.36 and a beta of 1.74. Etsy has a 12 month low of $40.05 and a 12 month high of $76.51. The stock has a 50-day moving average price of $54.68.
Etsy (NYSE:ETSY – Get Free Report) last issued its earnings results on Thursday, February 19th. The company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.04. The business had revenue of $881.64 million during the quarter. Etsy had a negative return on equity of 24.94% and a net margin of 5.65%.
Etsy announced that its Board of Directors has authorized a stock buyback program on Thursday, December 18th that authorizes the company to repurchase $750.00 million in shares. This repurchase authorization authorizes the company to buy up to 14.2% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.
Etsy Company Profile
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. In addition, it offers various seller services, including Etsy Payments, a payment processing service; Etsy Ads, an advertising platform; and Shipping Labels, which allows sellers in the United States, Canada, the United Kingdom, Australia, and India to purchase discounted shipping labels.