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

Etsy, Inc. (NASDAQ:ETSY) has earned a consensus rating of “Hold” from the twenty-five ratings firms that are currently covering the company, Marketbeat Ratings reports. Four research analysts have rated the stock with a sell rating, thirteen have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $63.17.

A number of equities research analysts have commented on ETSY shares. The Goldman Sachs Group downgraded Etsy from a “neutral” rating to a “sell” rating and reduced their target price for the company from $70.00 to $45.00 in a report on Tuesday, October 15th. Bank of America reduced their price objective on shares of Etsy from $61.00 to $58.00 and set a “neutral” rating for the company in a research note on Thursday, October 24th. Cantor Fitzgerald restated a “neutral” rating and set a $50.00 target price on shares of Etsy in a research report on Monday, October 7th. Moffett Nathanson lifted their price target on shares of Etsy from $60.00 to $61.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Finally, Stifel Nicolaus dropped their price objective on Etsy from $64.00 to $56.00 and set a “hold” rating for the company in a research note on Monday, October 28th.

Etsy Stock Performance

Shares of Etsy stock opened at $52.71 on Wednesday. Etsy has a one year low of $47.10 and a one year high of $82.84. The company has a market cap of $5.93 billion, a P/E ratio of 26.89, a PEG ratio of 6.96 and a beta of 1.99. The firm has a fifty day moving average of $53.98 and a two-hundred day moving average of $55.47.

Etsy (NASDAQ:ETSY) last announced its quarterly earnings data on Wednesday, October 30th. The specialty retailer reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.09). Etsy had a net margin of 9.17% and a negative return on equity of 46.79%. The firm had revenue of $662.40 million during the quarter, compared to analyst estimates of $652.47 million. During the same quarter in the previous year, the business earned $0.64 EPS. Etsy’s revenue for the quarter was up 4.1% on a year-over-year basis. As a group, equities analysts predict that Etsy will post 2.25 earnings per share for the current year.

Etsy declared that its board has approved a share repurchase program on Wednesday, October 30th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the specialty retailer to repurchase up to 17.8% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity

In other Etsy news, insider Toni Thompson Nadal sold 1,443 shares of the business’s stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $51.11, for a total transaction of $73,751.73. Following the transaction, the insider now owns 592 shares in the company, valued at $30,257.12. The trade was a 70.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Nicholas Daniel sold 750 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $53.15, for a total value of $39,862.50. Following the completion of the sale, the insider now owns 25,121 shares of the company’s stock, valued at approximately $1,335,181.15. This trade represents a 2.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,069 shares of company stock valued at $261,888 in the last three months. Corporate insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Etsy

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Blue Trust Inc. boosted its stake in shares of Etsy by 106.5% in the third quarter. Blue Trust Inc. now owns 448 shares of the specialty retailer’s stock valued at $26,000 after purchasing an additional 231 shares during the period. UMB Bank n.a. boosted its position in Etsy by 112.3% in the 3rd quarter. UMB Bank n.a. now owns 552 shares of the specialty retailer’s stock valued at $31,000 after buying an additional 292 shares during the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of Etsy during the third quarter valued at about $43,000. Prospera Private Wealth LLC purchased a new stake in shares of Etsy during the third quarter worth about $59,000. Finally, Denver PWM LLC acquired a new position in shares of Etsy in the second quarter worth about $82,000. Hedge funds and other institutional investors own 99.53% of the company’s stock.

About Etsy

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.