Etsy, Inc. (NASDAQ:ETSY) Receives Average Recommendation of “Hold” from Analysts

Shares of Etsy, Inc. (NASDAQ:ETSYGet Rating) have received a consensus recommendation of “Hold” from the twenty-five analysts that are covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $127.85.

A number of analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft reduced their price target on Etsy from $100.00 to $90.00 in a research report on Thursday, July 21st. Barclays assumed coverage on Etsy in a research report on Monday, August 15th. They issued an “equal weight” rating and a $100.00 price target for the company. Raymond James assumed coverage on Etsy in a research report on Wednesday, June 29th. They issued an “outperform” rating and a $100.00 price target for the company. Stifel Nicolaus reduced their price target on Etsy from $130.00 to $125.00 in a research report on Friday, July 15th. Finally, Truist Financial boosted their price objective on Etsy from $115.00 to $130.00 and gave the stock a “buy” rating in a research report on Tuesday, August 16th.

Etsy Price Performance

ETSY opened at $104.07 on Thursday. The stock has a market cap of $13.18 billion, a price-to-earnings ratio of 36.64, a PEG ratio of 5.21 and a beta of 1.86. Etsy has a 1 year low of $67.01 and a 1 year high of $307.75. The company has a current ratio of 2.93, a quick ratio of 2.93 and a debt-to-equity ratio of 4.10. The stock has a fifty day moving average price of $105.23 and a 200 day moving average price of $102.08.

Etsy (NASDAQ:ETSYGet Rating) last announced its quarterly earnings results on Wednesday, July 27th. The specialty retailer reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.13. Etsy had a return on equity of 67.88% and a net margin of 17.01%. The company had revenue of $585.20 million during the quarter, compared to analysts’ expectations of $556.85 million. During the same quarter in the previous year, the firm earned $0.68 earnings per share. The business’s quarterly revenue was up 10.6% compared to the same quarter last year. Analysts forecast that Etsy will post 2.18 EPS for the current fiscal year.

Insider Activity

In other news, CEO Josh Silverman sold 20,850 shares of the company’s stock in a transaction that occurred on Wednesday, July 20th. The stock was sold at an average price of $90.73, for a total value of $1,891,720.50. Following the sale, the chief executive officer now directly owns 102,707 shares in the company, valued at approximately $9,318,606.11. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CMO Ryan M. Scott sold 712 shares of the company’s stock in a transaction that occurred on Friday, July 22nd. The stock was sold at an average price of $100.00, for a total value of $71,200.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Josh Silverman sold 20,850 shares of the company’s stock in a transaction that occurred on Wednesday, July 20th. The shares were sold at an average price of $90.73, for a total value of $1,891,720.50. Following the completion of the sale, the chief executive officer now owns 102,707 shares in the company, valued at $9,318,606.11. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 117,360 shares of company stock worth $11,961,821. Company insiders own 3.10% of the company’s stock.

Institutional Investors Weigh In On Etsy

A number of large investors have recently bought and sold shares of ETSY. Norges Bank bought a new stake in Etsy during the 4th quarter worth approximately $223,388,000. Van ECK Associates Corp grew its position in Etsy by 163.3% during the 2nd quarter. Van ECK Associates Corp now owns 1,616,734 shares of the specialty retailer’s stock worth $118,361,000 after acquiring an additional 1,002,642 shares during the last quarter. Clearbridge Investments LLC grew its position in Etsy by 69.7% during the 1st quarter. Clearbridge Investments LLC now owns 2,314,633 shares of the specialty retailer’s stock worth $287,663,000 after acquiring an additional 950,415 shares during the last quarter. Artisan Partners Limited Partnership bought a new stake in Etsy during the 2nd quarter worth approximately $68,052,000. Finally, SRS Investment Management LLC grew its position in Etsy by 156.5% during the 2nd quarter. SRS Investment Management LLC now owns 1,375,260 shares of the specialty retailer’s stock worth $100,683,000 after acquiring an additional 839,063 shares during the last quarter. 98.68% of the stock is currently owned by institutional investors.

Etsy Company Profile

(Get Rating)

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.

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Analyst Recommendations for Etsy (NASDAQ:ETSY)

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