Argus Forecasts Strong Price Appreciation for Etsy (NYSE:ETSY) Stock

Etsy (NYSE:ETSY) had its price objective increased by analysts at Argus from $67.00 to $89.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Argus’ target price would indicate a potential upside of 16.51% from the company’s previous close.

A number of other brokerages also recently issued reports on ETSY. Loop Capital set a $105.00 price target on Etsy in a report on Thursday, August 20th. UBS Group lifted their price objective on Etsy from $74.00 to $86.00 and gave the stock a “neutral” rating in a research report on Friday, August 7th. Rosenblatt Securities started coverage on Etsy in a research note on Thursday, August 20th. They set a “buy” rating and a $95.00 target price on the stock. President Capital raised Etsy from a “neutral” rating to a “buy” rating and boosted their target price for the company from $57.00 to $91.00 in a research note on Thursday, June 25th. Finally, B. Riley Financial upped their target price on Etsy from $75.00 to $82.00 and gave the company a “neutral” rating in a report on Monday, August 10th. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, seventeen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $85.46.

Etsy Trading Down 0.2%

ETSY stock opened at $76.39 on Tuesday. The firm’s 50-day moving average price is $81.21 and its two-hundred day moving average price is $67.69. Etsy has a 12-month low of $44.00 and a 12-month high of $87.97. The stock has a market capitalization of $7.25 billion, a price-to-earnings ratio of 42.68, a PEG ratio of 1.91 and a beta of 1.81.

Etsy (NYSE:ETSY) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($0.49) EPS for the quarter, missing the consensus estimate of $0.75 by ($1.24). The firm had revenue of $668.31 million for the quarter, compared to the consensus estimate of $646.10 million. Etsy had a net margin of 7.32% and a negative return on equity of 34.18%. The business’s revenue was down .7% on a year-over-year basis. During the same period last year, the company posted $0.25 earnings per share. Equities analysts predict that Etsy will post 3.94 EPS for the current year.

Insider Activity at Etsy

In other news, insider Josh Silverman sold 97,389 shares of the firm’s stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $79.00, for a total value of $7,693,731.00. Following the completion of the transaction, the insider owned 130,694 shares in the company, valued at $10,324,826. This trade represents a 42.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frederick Wilson sold 20,000 shares of Etsy stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $74.39, for a total value of $1,487,800.00. Following the sale, the director owned 441,329 shares in the company, valued at $32,830,464.31. This represents a 4.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 471,017 shares of company stock valued at $36,593,674 in the last three months. Corporate insiders own 2.50% of the company’s stock.

Institutional Trading of Etsy

A number of hedge funds have recently modified their holdings of ETSY. Smartleaf Asset Management LLC grew its position in shares of Etsy by 10.0% in the 2nd quarter. Smartleaf Asset Management LLC now owns 1,734 shares of the company’s stock worth $88,000 after buying an additional 158 shares during the period. Alamea Verwaltungs GmbH lifted its position in Etsy by 2.3% during the 2nd quarter. Alamea Verwaltungs GmbH now owns 7,380 shares of the company’s stock valued at $370,000 after acquiring an additional 169 shares during the period. PNC Financial Services Group Inc. boosted its stake in Etsy by 2.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 7,550 shares of the company’s stock worth $419,000 after acquiring an additional 180 shares in the last quarter. Blue Trust Inc. grew its holdings in Etsy by 19.3% in the first quarter. Blue Trust Inc. now owns 1,238 shares of the company’s stock worth $62,000 after purchasing an additional 200 shares during the period. Finally, Oregon Public Employees Retirement Fund grew its holdings in Etsy by 1.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 22,547 shares of the company’s stock worth $1,250,000 after purchasing an additional 224 shares during the period. Institutional investors own 99.53% of the company’s stock.

About Etsy

Etsy, Inc operates two-sided online marketplaces that connect buyers and sellers primarily in the United States, the United Kingdom, Germany, Canada, Australia, France, and India. 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. In addition, it offers various seller services, including Etsy Payments, a payment processing service; Etsy Ads, an advertising platform; and Shipping Labels, which allows sellers in the United States, Canada, the United Kingdom, Australia, and India to purchase discounted shipping labels.