Etsy (NASDAQ:ETSY) PT Lowered to $75.00 at Morgan Stanley

Etsy (NASDAQ:ETSYGet Rating) had its target price cut by analysts at Morgan Stanley from $76.00 to $75.00 in a report released on Wednesday, Benzinga reports. The firm presently has an “equal weight” rating on the specialty retailer’s stock. Morgan Stanley’s price objective points to a potential downside of 41.85% from the stock’s current price.

A number of other research firms also recently issued reports on ETSY. TheStreet downgraded shares of Etsy from a “c” rating to a “d” rating in a research note on Wednesday, November 2nd. Bank of America increased their price target on shares of Etsy from $110.00 to $145.00 in a research note on Tuesday, December 6th. Guggenheim increased their price target on shares of Etsy from $105.00 to $125.00 in a research note on Wednesday, October 5th. Citigroup started coverage on shares of Etsy in a research note on Tuesday, December 13th. They issued a “buy” rating and a $161.00 price target for the company. Finally, Needham & Company LLC raised shares of Etsy from a “hold” rating to a “buy” rating and set a $160.00 price target for the company in a research note on Wednesday, January 4th. Eleven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $120.39.

Etsy Stock Performance

Shares of NASDAQ:ETSY opened at $128.97 on Wednesday. The company has a market cap of $16.21 billion, a price-to-earnings ratio of -23.88, a price-to-earnings-growth ratio of 5.80 and a beta of 1.80. The company has a 50-day moving average price of $125.71 and a 200-day moving average price of $110.14. The company has a current ratio of 2.72, a quick ratio of 2.72 and a debt-to-equity ratio of 4.10. Etsy has a 12 month low of $67.01 and a 12 month high of $172.36.

Etsy (NASDAQ:ETSYGet Rating) last issued its quarterly earnings data on Wednesday, November 2nd. The specialty retailer reported $0.58 EPS for the quarter, beating the consensus estimate of $0.37 by $0.21. Etsy had a negative net margin of 25.94% and a positive return on equity of 123.01%. The firm had revenue of $594.47 million during the quarter, compared to the consensus estimate of $560.19 million. As a group, equities analysts anticipate that Etsy will post -5.32 EPS for the current year.

Insider Activity at Etsy

In related news, CEO Josh Silverman sold 20,850 shares of the stock in a transaction that occurred on Wednesday, November 2nd. The shares were sold at an average price of $90.74, for a total transaction of $1,891,929.00. Following the transaction, the chief executive officer now owns 107,305 shares in the company, valued at $9,736,855.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CEO Josh Silverman sold 20,850 shares of the stock in a transaction that occurred on Wednesday, November 2nd. The shares were sold at an average price of $90.74, for a total transaction of $1,891,929.00. Following the transaction, the chief executive officer now owns 107,305 shares in the company, valued at $9,736,855.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Nicholas Daniel sold 2,540 shares of the stock in a transaction that occurred on Tuesday, November 8th. The shares were sold at an average price of $103.20, for a total transaction of $262,128.00. Following the transaction, the insider now owns 3,309 shares in the company, valued at approximately $341,488.80. The disclosure for this sale can be found here. Insiders have sold a total of 238,382 shares of company stock worth $27,362,911 over the last quarter. Company insiders own 3.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Householder Group Estate & Retirement Specialist LLC bought a new position in Etsy in the third quarter worth approximately $34,000. Mirae Asset Global Investments Co. Ltd. raised its position in Etsy by 0.6% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 86,551 shares of the specialty retailer’s stock worth $6,336,000 after acquiring an additional 535 shares during the period. Rovin Capital UT ADV raised its position in Etsy by 12.5% in the third quarter. Rovin Capital UT ADV now owns 5,414 shares of the specialty retailer’s stock worth $542,000 after acquiring an additional 602 shares during the period. DekaBank Deutsche Girozentrale raised its position in Etsy by 13.6% in the second quarter. DekaBank Deutsche Girozentrale now owns 56,006 shares of the specialty retailer’s stock worth $4,127,000 after acquiring an additional 6,708 shares during the period. Finally, Bridgewater Associates LP raised its position in Etsy by 529.5% in the second quarter. Bridgewater Associates LP now owns 41,185 shares of the specialty retailer’s stock worth $3,015,000 after acquiring an additional 34,643 shares during the period. 95.46% of the stock is currently owned by institutional investors.

About Etsy

(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.

See Also

Analyst Recommendations for Etsy (NASDAQ:ETSY)

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