Brokerages Set Etsy Inc (NYSE:ETSY) Target Price at $85.46

by · The Cerbat Gem

Shares of Etsy Inc (NYSE:ETSY – Get Free Report) have earned a consensus recommendation of “Moderate Buy” from the thirty-four analysts that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, seventeen have issued a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $85.4643.

Several brokerages have issued reports on ETSY. Susquehanna lowered shares of Etsy to a “neutral” rating in a research note on Thursday, May 21st. Wells Fargo & Company increased their price objective on shares of Etsy from $61.00 to $76.00 and gave the stock an “underweight” rating in a research note on Friday, August 7th. Canaccord Genuity Group set a $92.00 price objective on Etsy in a report on Thursday, August 6th. Truist Financial lifted their target price on Etsy from $85.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, July 22nd. Finally, Raymond James Financial upped their target price on Etsy from $75.00 to $92.00 and gave the stock an “outperform” rating in a report on Tuesday, July 21st.

Get Our Latest Analysis on Etsy

Etsy Stock Up 0.3%

NYSE:ETSY opened at $72.95 on Friday. Etsy has a twelve month low of $44.00 and a twelve month high of $87.97. The business has a 50 day moving average price of $80.95 and a two-hundred day moving average price of $68.33. The company has a market cap of $6.92 billion, a P/E ratio of 40.75, a price-to-earnings-growth ratio of 1.82 and a beta of 1.81.

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

Insiders Place Their Bets

In other news, insider Josh Silverman sold 97,389 shares of the company’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 transaction of $7,693,731.00. Following the sale, the insider owned 130,694 shares in the company, valued at $10,324,826. This represents a 42.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Richard Edward Colburn III sold 8,252 shares of the stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $82.09, for a total value of $677,406.68. Following the completion of the sale, the insider directly owned 6,503 shares of the company’s stock, valued at approximately $533,831.27. The trade was a 55.93% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 421,017 shares of company stock valued at $32,968,674 in the last 90 days. 2.50% of the stock is currently owned by insiders.

Institutional Trading of Etsy

Several institutional investors and hedge funds have recently bought and sold shares of ETSY. Headlands Technologies LLC bought a new position in Etsy during the second quarter worth $1,045,000. Ieq Capital LLC bought a new position in shares of Etsy in the second quarter valued at about $4,083,000. Landscape Capital Management L.L.C. acquired a new stake in shares of Etsy during the 2nd quarter worth about $6,466,000. Bank of Nova Scotia acquired a new stake in shares of Etsy during the 2nd quarter worth about $18,602,000. Finally, Janus Henderson Group PLC boosted its holdings in shares of Etsy by 627.2% during the 1st quarter. Janus Henderson Group PLC now owns 279,407 shares of the company’s stock worth $13,962,000 after buying an additional 240,986 shares during the period. Institutional investors own 99.53% of the company’s stock.

About Etsy

(Get Free Report)

Etsy, Inc operates a global online marketplace that connects buyers with independent sellers offering handmade, personalized and vintage goods, as well as craft supplies. Its marketplace includes products such as jewelry, clothing, home décor, art, gifts and party supplies.

The company provides tools and services that support commerce on its platform, including seller storefronts, search and discovery features, payment processing, advertising, shipping solutions and customer support. Etsy primarily serves individual entrepreneurs and small businesses seeking to reach consumers interested in distinctive and creatively designed products.

Founded in 2005 and headquartered in Brooklyn, New York, Etsy serves buyers and sellers in numerous countries.

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