The Goldman Sachs Group Issues Pessimistic Forecast for Etsy (NASDAQ:ETSY) Stock Price

Etsy (NASDAQ:ETSY) had its target price trimmed by The Goldman Sachs Group from $45.00 to $35.00 in a report released on Tuesday morning,Benzinga reports. The brokerage currently has a sell rating on the specialty retailer’s stock.

Several other equities analysts have also weighed in on the company. Deutsche Bank Aktiengesellschaft set a $40.00 target price on Etsy and gave the company a “hold” rating in a research note on Monday, April 14th. Truist Financial reduced their price objective on shares of Etsy from $70.00 to $67.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Needham & Company LLC reaffirmed a “buy” rating and issued a $60.00 target price on shares of Etsy in a research note on Thursday, February 20th. Citigroup reduced their price target on shares of Etsy from $56.00 to $53.00 and set a “neutral” rating on the stock in a research report on Thursday, February 20th. Finally, Loop Capital lowered their price objective on shares of Etsy from $45.00 to $40.00 and set a “sell” rating for the company in a research report on Thursday, February 20th. Four research analysts have rated the stock with a sell rating, fifteen have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Etsy has a consensus rating of “Hold” and an average target price of $56.00.

Etsy Trading Up 3.1 %

Shares of NASDAQ:ETSY opened at $45.93 on Tuesday. The stock has a market capitalization of $4.92 billion, a P/E ratio of 19.38, a P/E/G ratio of 2.57 and a beta of 2.15. Etsy has a 1-year low of $40.05 and a 1-year high of $71.72. The business has a 50-day moving average price of $47.33 and a two-hundred day moving average price of $51.42.

Etsy (NASDAQ:ETSY) last announced its quarterly earnings data on Wednesday, February 19th. The specialty retailer reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.08. The business had revenue of $852.16 million for the quarter, compared to analyst estimates of $861.37 million. Etsy had a net margin of 10.80% and a negative return on equity of 46.62%. Etsy’s revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.62 earnings per share. As a group, equities analysts predict that Etsy will post 2.57 EPS for the current year.

Insider Buying and Selling at Etsy

In other Etsy news, insider Nicholas Daniel sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $55.34, for a total value of $83,010.00. Following the completion of the transaction, the insider now directly owns 22,198 shares in the company, valued at $1,228,437.32. This trade represents a 6.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Josh Silverman sold 21,666 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $52.05, for a total value of $1,127,715.30. Following the sale, the chief executive officer now owns 5,004 shares in the company, valued at approximately $260,458.20. This represents a 81.24 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 50,952 shares of company stock worth $2,554,620. Insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Etsy

Institutional investors have recently added to or reduced their stakes in the company. Lindbrook Capital LLC increased its stake in shares of Etsy by 55.7% during the 4th 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 last quarter. True Wealth Design LLC increased its position in 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 buying an additional 292 shares during the last quarter. Hurley Capital LLC acquired a new stake in shares of Etsy in the fourth quarter valued at approximately $32,000. Strategic Investment Solutions Inc. IL bought a new position in shares of Etsy during the 4th quarter worth approximately $34,000. Finally, Summit Securities Group LLC bought a new stake in Etsy in the 4th quarter valued at $37,000. 99.53% of the stock is currently owned by institutional investors and hedge funds.

Etsy Company Profile

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.