Etsy, Inc. (NASDAQ:ETSY) Receives $64.38 Average Price Target from Brokerages

by · The Cerbat Gem

Shares of Etsy, Inc. (NASDAQ:ETSY – Get Free Report) have received a consensus rating of “Hold” from the thirty-one analysts that are covering the company, Marketbeat reports. Three analysts have rated the stock with a sell rating, twenty have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $63.9583.

Several equities research analysts have recently issued reports on ETSY shares. Evercore ISI lowered Etsy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 30th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $72.00 price target on shares of Etsy in a research note on Thursday, October 23rd. Raymond James Financial reaffirmed an “outperform” rating and set a $78.00 price objective (down from $80.00) on shares of Etsy in a report on Thursday, October 30th. Zacks Research upgraded Etsy from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 10th. Finally, BNP Paribas initiated coverage on Etsy in a research note on Monday, November 24th. They set a “neutral” rating on the stock.

Get Our Latest Stock Analysis on Etsy

Insider Transactions at Etsy

In other Etsy news, CAO Merilee Buckley sold 11,827 shares of the stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $61.47, for a total value of $727,005.69. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Josh Silverman sold 21,666 shares of the firm’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $54.67, for a total transaction of $1,184,480.22. Following the completion of the transaction, the chief executive officer directly owned 78,946 shares of the company’s stock, valued at approximately $4,315,977.82. The trade was a 21.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 311,105 shares of company stock valued at $21,144,854. Company insiders own 2.80% of the company’s stock.

Institutional Investors Weigh In On Etsy

A number of institutional investors and hedge funds have recently made changes to their positions in ETSY. IFP Advisors Inc increased its stake in Etsy by 40.9% in the 3rd quarter. IFP Advisors Inc now owns 5,638 shares of the specialty retailer’s stock worth $376,000 after acquiring an additional 1,637 shares during the last quarter. Swiss Life Asset Management Ltd purchased a new position in shares of Etsy during the third quarter worth about $287,000. Danske Bank A S bought a new position in shares of Etsy in the third quarter worth approximately $66,000. Jacobs Levy Equity Management Inc. increased its position in shares of Etsy by 24.4% in the third quarter. Jacobs Levy Equity Management Inc. now owns 236,705 shares of the specialty retailer’s stock worth $15,715,000 after purchasing an additional 46,364 shares during the last quarter. Finally, Dark Forest Capital Management LP purchased a new stake in Etsy in the third quarter valued at approximately $2,758,000. Hedge funds and other institutional investors own 99.53% of the company’s stock.

Etsy Stock Up 0.5%

Shares of ETSY stock opened at $53.77 on Wednesday. The firm has a 50 day moving average of $61.73 and a 200-day moving average of $60.09. The company has a market cap of $5.31 billion, a price-to-earnings ratio of 43.37, a price-to-earnings-growth ratio of 10.65 and a beta of 1.76. Etsy has a 52 week low of $40.05 and a 52 week high of $76.51.

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

Etsy Company Profile

(Get Free Report)

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.

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