Brokerages Set Etsy Inc (NYSE:ETSY) PT at $70.09

Etsy Inc (NYSE:ETSY) has received an average recommendation of “Hold” from the twenty-nine brokerages that are covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, nineteen have assigned a hold recommendation, seven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $70.0870.

A number of research analysts recently issued reports on the company. Barclays boosted their price target on Etsy from $72.00 to $82.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. B. Riley Financial cut Etsy from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $70.00 to $75.00 in a report on Thursday, April 30th. BTIG Research lifted their price objective on Etsy from $65.00 to $78.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Morgan Stanley set a $64.00 target price on Etsy in a research note on Wednesday, April 29th. Finally, Sanford C. Bernstein upped their target price on Etsy from $60.00 to $65.00 and gave the company a “market perform” rating in a report on Thursday, April 30th.

Etsy Stock Performance

Shares of Etsy stock opened at $59.73 on Friday. The company has a market cap of $5.67 billion, a price-to-earnings ratio of 24.89, a PEG ratio of 5.74 and a beta of 1.89. Etsy has a 12-month low of $44.00 and a 12-month high of $76.51. The stock has a fifty day moving average price of $56.45.

Etsy (NYSE:ETSY) last released its quarterly earnings data on Thursday, February 19th. The company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.04. The firm had revenue of $881.64 million for the quarter. Etsy had a net margin of 9.94% and a negative return on equity of 28.60%. As a group, sell-side analysts expect that Etsy will post 3.74 earnings per share for the current year.

Insider Activity at Etsy

In other news, CAO Merilee Buckley sold 1,993 shares of Etsy stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $52.92, for a total transaction of $105,469.56. Following the sale, the chief accounting officer owned 809 shares of the company’s stock, valued at approximately $42,812.28. The trade was a 71.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Richard Edward Colburn III sold 4,776 shares of the business’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $65.09, for a total transaction of $310,869.84. Following the transaction, the insider owned 6,503 shares in the company, valued at $423,280.27. This represents a 42.34% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 278,569 shares of company stock valued at $17,724,416 in the last 90 days. 2.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in ETSY. Smartleaf Asset Management LLC boosted its position in shares of Etsy by 10.0% during the second quarter. Smartleaf Asset Management LLC now owns 1,734 shares of the company’s stock valued at $88,000 after purchasing an additional 158 shares in the last quarter. Alamea Verwaltungs GmbH raised its holdings in Etsy by 2.3% in the second quarter. Alamea Verwaltungs GmbH now owns 7,380 shares of the company’s stock worth $370,000 after purchasing an additional 169 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in Etsy by 2.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 7,550 shares of the company’s stock worth $419,000 after purchasing an additional 180 shares in the last quarter. Blue Trust Inc. lifted its position in Etsy by 19.3% during the first quarter. Blue Trust Inc. now owns 1,238 shares of the company’s stock valued at $62,000 after buying an additional 200 shares during the period. Finally, GAMMA Investing LLC lifted its position in Etsy by 6.6% during the fourth quarter. GAMMA Investing LLC now owns 3,333 shares of the company’s stock valued at $185,000 after buying an additional 205 shares during the period. Institutional investors own 99.53% of the company’s stock.

Etsy Company Profile

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.