Etsy (NASDAQ:ETSY) Price Target Cut to $80.00

Etsy (NASDAQ:ETSY) had its price objective reduced by equities research analysts at Guggenheim from $95.00 to $80.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the specialty retailer’s stock. Guggenheim’s price objective would suggest a potential upside of 33.40% from the company’s previous close.

Other equities analysts have also issued research reports about the stock. Truist Financial cut their price objective on shares of Etsy from $85.00 to $75.00 and set a “buy” rating on the stock in a research report on Thursday. BTIG Research cut their price target on shares of Etsy from $87.00 to $78.00 and set a “buy” rating on the stock in a report on Thursday. Needham & Company LLC reduced their price objective on shares of Etsy from $95.00 to $75.00 and set a “buy” rating for the company in a research note on Thursday. Evercore ISI reduced their price target on Etsy from $95.00 to $90.00 and set an “outperform” rating for the company in a research report on Thursday, February 22nd. Finally, Piper Sandler increased their price objective on Etsy from $90.00 to $103.00 and gave the company an “overweight” rating in a report on Thursday, February 22nd. Four research analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, Etsy presently has an average rating of “Hold” and an average target price of $79.96.

Etsy Price Performance

Etsy stock traded up $0.73 during trading hours on Thursday, hitting $59.97. The company had a trading volume of 5,617,654 shares, compared to its average volume of 3,661,918. Etsy has a fifty-two week low of $56.60 and a fifty-two week high of $102.81. The firm has a market capitalization of $7.02 billion, a P/E ratio of 27.38, a price-to-earnings-growth ratio of 4.16 and a beta of 2.00. The firm’s fifty day moving average is $67.77 and its 200-day moving average is $71.52.

Etsy (NASDAQ:ETSY) last issued its earnings results on Wednesday, May 1st. The specialty retailer reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.01). Etsy had a net margin of 10.75% and a negative return on equity of 67.27%. The firm had revenue of $646.00 million during the quarter, compared to analysts’ expectations of $646.30 million. During the same quarter last year, the firm earned $0.53 EPS. The business’s revenue for the quarter was up .8% compared to the same quarter last year. Analysts anticipate that Etsy will post 2.55 earnings per share for the current year.

Insider Buying and Selling at Etsy

In other news, CEO Josh Silverman sold 63,047 shares of the stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $72.50, for a total value of $4,570,907.50. Following the completion of the transaction, the chief executive officer now directly owns 23,140 shares of the company’s stock, valued at approximately $1,677,650. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Etsy news, insider Nicholas Daniel sold 1,500 shares of the business’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $71.82, for a total value of $107,730.00. Following the transaction, the insider now directly owns 13,138 shares in the company, valued at $943,571.16. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Josh Silverman sold 63,047 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $72.50, for a total transaction of $4,570,907.50. Following the sale, the chief executive officer now directly owns 23,140 shares of the company’s stock, valued at approximately $1,677,650. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 66,968 shares of company stock valued at $4,836,827. 2.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Etsy

Institutional investors have recently bought and sold shares of the business. CVA Family Office LLC acquired a new position in shares of Etsy during the fourth quarter worth approximately $27,000. Operose Advisors LLC acquired a new position in Etsy during the 3rd quarter worth $28,000. Sunbelt Securities Inc. boosted its position in Etsy by 3,900.0% in the 1st quarter. Sunbelt Securities Inc. now owns 440 shares of the specialty retailer’s stock valued at $30,000 after buying an additional 429 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in Etsy by 402.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 447 shares of the specialty retailer’s stock worth $36,000 after purchasing an additional 358 shares during the period. Finally, Larson Financial Group LLC lifted its position in Etsy by 1,576.5% during the 1st quarter. Larson Financial Group LLC now owns 570 shares of the specialty retailer’s stock valued at $39,000 after purchasing an additional 536 shares during the period. Institutional investors own 99.53% of the company’s stock.

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.