Stifel Nicolaus Lowers Etsy (NASDAQ:ETSY) Price Target to $51.00

Etsy (NASDAQ:ETSY) had its price objective cut by investment analysts at Stifel Nicolaus from $56.00 to $51.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a “hold” rating on the specialty retailer’s stock. Stifel Nicolaus’ target price would suggest a potential downside of 0.51% from the stock’s current price.

ETSY has been the topic of several other reports. Deutsche Bank Aktiengesellschaft cut Etsy to a “hold” rating and lowered their price objective for the stock from $45.00 to $43.00 in a report on Wednesday, February 12th. Wells Fargo & Company lifted their price target on Etsy from $44.00 to $47.00 and gave the stock an “underweight” rating in a research note on Thursday. Canaccord Genuity Group reduced their price objective on Etsy from $105.00 to $76.00 and set a “buy” rating for the company in a research note on Thursday. Cantor Fitzgerald lowered their target price on shares of Etsy from $46.00 to $43.00 and set a “neutral” rating on the stock in a research note on Thursday. Finally, UBS Group reduced their target price on shares of Etsy from $55.00 to $54.00 and set a “neutral” rating for the company in a research report on Thursday. Four research analysts have rated the stock with a sell rating, fourteen have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $60.08.

Etsy Trading Down 0.3 %

Shares of ETSY opened at $51.26 on Thursday. The firm has a market cap of $5.77 billion, a P/E ratio of 21.63, a PEG ratio of 2.55 and a beta of 2.00. Etsy has a 12 month low of $47.10 and a 12 month high of $74.82. The stock’s 50 day moving average is $54.43 and its two-hundred day moving average is $53.78.

Etsy (NASDAQ:ETSY) last released its quarterly earnings results on Wednesday, February 19th. The specialty retailer reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.08. The firm had revenue of $852.16 million for the quarter, compared to analysts’ expectations of $861.37 million. Etsy had a net margin of 10.80% and a negative return on equity of 46.62%. The firm’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.62 EPS. Equities research analysts forecast that Etsy will post 2.6 EPS for the current year.

Etsy announced that its Board of Directors has authorized a share repurchase plan on Wednesday, October 30th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the specialty retailer to repurchase up to 17.8% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity

In related news, insider Nicholas Daniel sold 1,500 shares of Etsy stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $55.34, for a total value of $83,010.00. Following the completion of the sale, the insider now owns 22,198 shares in the company, valued at approximately $1,228,437.32. This trade represents a 6.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of ETSY. Blue Trust Inc. lifted its stake in Etsy by 106.5% during the 3rd quarter. Blue Trust Inc. now owns 448 shares of the specialty retailer’s stock worth $26,000 after acquiring an additional 231 shares in the last quarter. Lindbrook Capital LLC increased its stake in Etsy by 55.7% during the fourth quarter. Lindbrook Capital LLC now owns 506 shares of the specialty retailer’s stock worth $27,000 after purchasing an additional 181 shares during the period. True Wealth Design LLC lifted its position in shares of Etsy by 112.7% during the fourth quarter. True Wealth Design LLC now owns 551 shares of the specialty retailer’s stock worth $29,000 after purchasing an additional 292 shares in the last quarter. Hurley Capital LLC purchased a new position in shares of Etsy in the fourth quarter valued at approximately $32,000. Finally, Strategic Investment Solutions Inc. IL acquired a new position in shares of Etsy in the fourth quarter valued at approximately $34,000. 99.53% of the stock is currently owned by hedge funds and other institutional investors.

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.