Cantor Fitzgerald Forecasts Strong Price Appreciation for Etsy (NASDAQ:ETSY) Stock

Etsy (NASDAQ:ETSY) had its price objective raised by Cantor Fitzgerald from $42.00 to $47.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the specialty retailer’s stock. Cantor Fitzgerald’s target price would suggest a potential upside of 6.09% from the stock’s current price. Cantor Fitzgerald also issued estimates for Etsy’s FY2025 earnings at $2.49 EPS.

Several other research analysts have also recently weighed in on the stock. Wells Fargo & Company reduced their price target on shares of Etsy from $46.00 to $40.00 and set an “underweight” rating for the company in a report on Thursday. Loop Capital lowered their target price on Etsy from $45.00 to $40.00 and set a “sell” rating for the company in a report on Thursday, February 20th. Canaccord Genuity Group cut their price target on Etsy from $76.00 to $72.00 and set a “buy” rating on the stock in a report on Monday, April 28th. Barclays dropped their target price on Etsy from $55.00 to $53.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Finally, UBS Group reduced their price target on Etsy from $46.00 to $45.00 and set a “neutral” rating for the company in a research report on Thursday. Four equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Etsy currently has an average rating of “Hold” and a consensus price target of $50.14.

Etsy Stock Up 4.2 %

Shares of NASDAQ ETSY opened at $44.30 on Thursday. Etsy has a twelve month low of $40.05 and a twelve month high of $66.93. The stock has a market cap of $4.66 billion, a price-to-earnings ratio of 18.69, a P/E/G ratio of 2.57 and a beta of 2.15. The company’s fifty day moving average is $45.88 and its 200-day moving average is $51.11.

Etsy (NASDAQ:ETSY) last posted its earnings results on Wednesday, April 30th. The specialty retailer reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.04). Etsy had a net margin of 10.80% and a negative return on equity of 46.62%. The business had revenue of $651.18 million during the quarter, compared to analyst estimates of $642.22 million. During the same period in the previous year, the firm posted $0.48 earnings per share. The firm’s revenue was up .8% on a year-over-year basis. On average, research analysts anticipate that Etsy will post 2.57 EPS for the current fiscal year.

Insider Activity at Etsy

In other news, insider Nicholas Daniel sold 1,500 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $55.34, for a total transaction of $83,010.00. Following the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Josh Silverman sold 21,666 shares of the business’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $52.05, for a total value of $1,127,715.30. Following the completion of the sale, the chief executive officer now owns 5,004 shares of the company’s stock, valued at $260,458.20. This trade represents a 81.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 50,952 shares of company stock worth $2,554,620. Insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in ETSY. Norges Bank bought a new stake in shares of Etsy in the fourth quarter valued at approximately $74,235,000. Assenagon Asset Management S.A. grew its holdings in shares of Etsy by 132.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,490,399 shares of the specialty retailer’s stock worth $78,827,000 after purchasing an additional 850,520 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Etsy by 703.8% in the fourth quarter. Victory Capital Management Inc. now owns 812,671 shares of the specialty retailer’s stock worth $42,982,000 after purchasing an additional 711,572 shares during the period. Van ECK Associates Corp raised its stake in Etsy by 17.4% in the fourth quarter. Van ECK Associates Corp now owns 3,527,742 shares of the specialty retailer’s stock valued at $186,583,000 after purchasing an additional 522,111 shares in the last quarter. Finally, AQR Capital Management LLC lifted its position in Etsy by 89.1% during the fourth quarter. AQR Capital Management LLC now owns 889,438 shares of the specialty retailer’s stock worth $47,042,000 after purchasing an additional 419,038 shares during the period. Institutional investors and hedge funds 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.