Etsy Inc (NYSE:ETSY) Receives $61.67 Consensus Target Price from Brokerages
by Teresa Graham · The Cerbat GemShares of Etsy Inc (NYSE:ETSY – Get Free Report) have received an average rating of “Hold” from the thirty analysts that are currently covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, seventeen have issued a hold recommendation, eight have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $61.6667.
A number of analysts have weighed in on ETSY shares. B. Riley Financial reduced their target price on Etsy from $78.00 to $70.00 and set a “buy” rating on the stock in a research note on Friday, February 20th. Citigroup reissued a “buy” rating on shares of Etsy in a research note on Tuesday, December 30th. Wall Street Zen upgraded shares of Etsy from a “hold” rating to a “buy” rating in a report on Saturday, April 11th. Morgan Stanley reduced their price target on shares of Etsy from $65.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Friday, February 20th. Finally, UBS Group decreased their price objective on shares of Etsy from $74.00 to $53.00 and set a “neutral” rating for the company in a report on Friday, February 20th.
Check Out Our Latest Stock Analysis on Etsy
Insider Activity
In other Etsy news, Director Charles Andrew Ballard sold 1,790 shares of the firm’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $55.74, for a total transaction of $99,774.60. Following the transaction, the director directly owned 4,006 shares in the company, valued at $223,294.44. This trade represents a 30.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Josh Silverman sold 12,148 shares of the firm’s stock in a transaction on Monday, April 6th. The shares were sold at an average price of $54.00, for a total value of $655,992.00. Following the transaction, the insider owned 130,694 shares in the company, valued at approximately $7,057,476. This represents a 8.50% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 43,971 shares of company stock valued at $2,326,623. Corporate insiders own 2.80% of the company’s stock.
Institutional Investors Weigh In On Etsy
Several hedge funds have recently modified their holdings of ETSY. EFG International AG bought a new position in shares of Etsy in the 4th quarter worth $33,000. Salomon & Ludwin LLC purchased a new position in Etsy in the third quarter valued at about $55,000. SJS Investment Consulting Inc. raised its holdings in Etsy by 12,600.0% in the third quarter. SJS Investment Consulting Inc. now owns 762 shares of the company’s stock worth $51,000 after purchasing an additional 756 shares in the last quarter. Abich Financial Wealth Management LLC purchased a new stake in shares of Etsy during the third quarter valued at about $51,000. Finally, Danske Bank A S purchased a new stake in shares of Etsy during the third quarter valued at about $66,000. Hedge funds and other institutional investors own 99.53% of the company’s stock.
Etsy Price Performance
Shares of NYSE:ETSY opened at $59.65 on Tuesday. Etsy has a 12 month low of $41.51 and a 12 month high of $76.51. The company has a market cap of $5.74 billion, a P/E ratio of 45.53, a price-to-earnings-growth ratio of 3.70 and a beta of 1.77. The firm’s 50-day moving average price is $52.35.
Etsy (NYSE:ETSY – Get Free Report) last announced its quarterly earnings data on Thursday, February 19th. The company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.04. Etsy had a net margin of 5.65% and a negative return on equity of 24.94%. The business had revenue of $881.64 million during the quarter.
Etsy declared that its Board of Directors has approved a share buyback program on Thursday, December 18th that authorizes the company to buyback $750.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 14.2% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its stock is undervalued.
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.