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

Shares of Etsy, Inc. (NASDAQ:ETSYGet Free Report) have been given a consensus rating of “Hold” by the twenty-five research firms that are presently covering the stock, MarketBeat Ratings reports. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have issued a buy rating on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $79.88.

ETSY has been the subject of a number of research reports. JMP Securities cut Etsy from an “outperform” rating to a “market perform” rating in a report on Thursday, May 2nd. Canaccord Genuity Group decreased their price target on Etsy from $125.00 to $105.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. Wedbush decreased their price target on Etsy from $70.00 to $65.00 and set a “neutral” rating for the company in a report on Thursday, May 2nd. Morgan Stanley decreased their price target on Etsy from $55.00 to $52.00 and set an “underweight” rating for the company in a report on Thursday, May 2nd. Finally, The Goldman Sachs Group decreased their price target on Etsy from $80.00 to $70.00 and set a “neutral” rating for the company in a report on Thursday, May 2nd.

View Our Latest Report on ETSY

Insider Activity at Etsy

In related news, insider Toni Thompson Nadal sold 1,444 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $65.68, for a total transaction of $94,841.92. Following the sale, the insider now directly owns 592 shares of the company’s stock, valued at approximately $38,882.56. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Etsy

Several large investors have recently added to or reduced their stakes in ETSY. Norges Bank bought a new position in shares of Etsy in the fourth quarter worth $86,494,000. Van ECK Associates Corp grew its stake in shares of Etsy by 26.5% in the fourth quarter. Van ECK Associates Corp now owns 4,616,990 shares of the specialty retailer’s stock worth $374,207,000 after purchasing an additional 967,777 shares in the last quarter. TD Asset Management Inc grew its stake in shares of Etsy by 260.2% in the fourth quarter. TD Asset Management Inc now owns 1,319,190 shares of the specialty retailer’s stock worth $106,920,000 after purchasing an additional 952,907 shares in the last quarter. Epoch Investment Partners Inc. grew its stake in shares of Etsy by 84.4% in the fourth quarter. Epoch Investment Partners Inc. now owns 1,309,510 shares of the specialty retailer’s stock worth $106,136,000 after purchasing an additional 599,286 shares in the last quarter. Finally, DAVENPORT & Co LLC grew its stake in shares of Etsy by 120.7% in the first quarter. DAVENPORT & Co LLC now owns 789,917 shares of the specialty retailer’s stock worth $54,021,000 after purchasing an additional 431,993 shares in the last quarter. 99.53% of the stock is owned by institutional investors and hedge funds.

Etsy Stock Performance

Shares of NASDAQ:ETSY opened at $57.01 on Wednesday. Etsy has a 1 year low of $55.08 and a 1 year high of $102.81. The stock has a market capitalization of $6.67 billion, a P/E ratio of 26.03, a PEG ratio of 4.51 and a beta of 2.02. The stock has a 50-day simple moving average of $61.50 and a 200-day simple moving average of $67.87.

Etsy (NASDAQ:ETSYGet Free Report) last issued its earnings results on Wednesday, May 1st. The specialty retailer reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.01). Etsy had a negative return on equity of 67.27% and a net margin of 10.75%. The firm had revenue of $646.00 million for the quarter, compared to analysts’ expectations of $646.30 million. During the same quarter in the previous year, the firm posted $0.53 EPS. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. Analysts predict that Etsy will post 2.49 earnings per share for the current year.

About Etsy

(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.

Further Reading

Analyst Recommendations for Etsy (NASDAQ:ETSY)

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