Etsy, Inc. (NASDAQ:ETSY) Receives $64.24 Average Price Target from Brokerages

by · The Cerbat Gem

Shares of Etsy, Inc. (NASDAQ:ETSY – Get Free Report) have earned an average rating of “Hold” from the thirty-one analysts that are currently covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, nineteen have assigned a hold recommendation, eight have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $63.88.

A number of research analysts have issued reports on ETSY shares. JPMorgan Chase & Co. boosted their price objective on shares of Etsy from $60.00 to $65.00 and gave the company a “neutral” rating in a research report on Monday, October 13th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $72.00 price target on shares of Etsy in a research report on Thursday, October 23rd. BTIG Research decreased their price target on shares of Etsy from $81.00 to $74.00 and set a “buy” rating for the company in a research note on Tuesday, December 30th. Bank of America raised their price objective on shares of Etsy from $71.00 to $75.00 and gave the stock a “neutral” rating in a report on Friday, October 10th. Finally, Jefferies Financial Group reduced their target price on Etsy from $70.00 to $60.00 and set a “hold” rating on the stock in a report on Thursday, December 11th.

Get Our Latest Report on ETSY

Insider Transactions at Etsy

In other Etsy news, CMO Bradley Minor sold 3,095 shares of the stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $57.81, for a total value of $178,921.95. Following the completion of the transaction, the chief marketing officer owned 7,373 shares in the company, valued at approximately $426,233.13. This represents a 29.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Merilee Buckley sold 5,636 shares of the business’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $58.45, for a total transaction of $329,424.20. The disclosure for this sale is available in the SEC filing. Insiders sold 154,056 shares of company stock valued at $8,931,918 in the last three months. Company insiders own 2.80% of the company’s stock.

Hedge Funds Weigh In On Etsy

Institutional investors and hedge funds have recently made changes to their positions in the business. Heritage Wealth Advisors boosted its position in shares of Etsy by 476.5% in the 2nd quarter. Heritage Wealth Advisors now owns 490 shares of the specialty retailer’s stock worth $25,000 after purchasing an additional 405 shares in the last quarter. Signaturefd LLC increased 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 buying an additional 192 shares in the last quarter. Elevation Point Wealth Partners LLC purchased a new position in Etsy during the second quarter valued at $35,000. Employees Retirement System of Texas bought a new stake in Etsy in the second quarter worth $47,000. Finally, SJS Investment Consulting Inc. boosted its holdings in Etsy by 12,600.0% in the third quarter. SJS Investment Consulting Inc. now owns 762 shares of the specialty retailer’s stock worth $51,000 after acquiring an additional 756 shares in the last quarter. Institutional investors own 99.53% of the company’s stock.

Etsy Stock Performance

NASDAQ ETSY opened at $61.28 on Friday. Etsy has a fifty-two week low of $40.05 and a fifty-two week high of $76.51. The stock has a 50 day simple moving average of $56.10 and a two-hundred day simple moving average of $59.79. The stock has a market cap of $6.05 billion, a P/E ratio of 49.42, a price-to-earnings-growth ratio of 10.65 and a beta of 1.74.

Etsy (NASDAQ:ETSY – Get Free Report) last posted its earnings results on Wednesday, October 29th. The specialty retailer reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.06. Etsy had a negative return on equity of 31.10% and a net margin of 5.78%.The firm had revenue of $678.03 million for the quarter, compared to analysts’ expectations of $655.83 million. During the same period in the previous year, the firm earned $0.45 earnings per share. The business’s revenue was up 2.4% compared to the same quarter last year. Sell-side analysts predict that Etsy will post 2.57 earnings per share for the current year.

Etsy announced that its board has authorized a stock buyback plan on Thursday, December 18th that permits the company to buyback $750.00 million in outstanding shares. This buyback authorization permits the specialty retailer to purchase up to 14.2% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

About Etsy

(Get Free Report)

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.

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