Etsy, Inc. (NASDAQ:ETSY) Given Average Recommendation of “Moderate Buy” by Brokerages

Etsy, Inc. (NASDAQ:ETSYGet Rating) has earned a consensus rating of “Moderate Buy” from the twenty-seven ratings firms that are currently covering the firm, MarketBeat reports. Eight research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $120.39.

Several equities research analysts have recently weighed in on the stock. Guggenheim increased their target price on shares of Etsy from $105.00 to $125.00 in a research note on Wednesday, October 5th. Bank of America raised their price target on shares of Etsy from $110.00 to $145.00 in a research note on Tuesday, December 6th. Needham & Company LLC raised shares of Etsy from a “hold” rating to a “buy” rating and set a $160.00 price target on the stock in a research note on Wednesday, January 4th. Jefferies Financial Group reduced their price target on shares of Etsy from $140.00 to $138.00 and set a “buy” rating on the stock in a research note on Thursday, October 6th. Finally, The Goldman Sachs Group assumed coverage on shares of Etsy in a research note on Monday, October 10th. They issued a “buy” rating and a $130.00 price target on the stock.

Insider Buying and Selling

In related news, insider Nicholas Daniel sold 1,000 shares of Etsy stock in a transaction that occurred on Tuesday, January 17th. The shares were sold at an average price of $135.18, for a total value of $135,180.00. Following the completion of the sale, the insider now directly owns 3,309 shares in the company, valued at approximately $447,310.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Nicholas Daniel sold 1,000 shares of Etsy stock in a transaction that occurred on Tuesday, January 17th. The shares were sold at an average price of $135.18, for a total value of $135,180.00. Following the completion of the sale, the insider now directly owns 3,309 shares in the company, valued at approximately $447,310.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CMO Ryan M. Scott sold 1,237 shares of Etsy stock in a transaction that occurred on Thursday, December 1st. The stock was sold at an average price of $133.00, for a total transaction of $164,521.00. The disclosure for this sale can be found here. Insiders sold 238,382 shares of company stock worth $27,362,911 in the last three months. Corporate insiders own 3.10% of the company’s stock.

Institutional Trading of Etsy

A number of institutional investors have recently bought and sold shares of ETSY. Van ECK Associates Corp raised 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 buying an additional 1,002,642 shares during the last quarter. Clearbridge Investments LLC raised 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 buying an additional 950,415 shares during the last quarter. Artisan Partners Limited Partnership purchased a new position in Etsy during the 2nd quarter worth approximately $68,052,000. SRS Investment Management LLC raised 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 buying an additional 839,063 shares during the last quarter. Finally, Capital International Investors raised its position in Etsy by 56.1% during the 1st quarter. Capital International Investors now owns 2,137,886 shares of the specialty retailer’s stock worth $265,696,000 after buying an additional 768,350 shares during the last quarter. 95.46% of the stock is currently owned by institutional investors and hedge funds.

Etsy Trading Down 1.8 %

Shares of ETSY opened at $136.68 on Wednesday. Etsy has a twelve month low of $67.01 and a twelve month high of $163.84. The company has a market cap of $17.18 billion, a P/E ratio of -25.31, a P/E/G ratio of 5.66 and a beta of 1.80. The company has a current ratio of 2.72, a quick ratio of 2.72 and a debt-to-equity ratio of 4.10. The company’s fifty day simple moving average is $126.65 and its 200-day simple moving average is $111.51.

Etsy (NASDAQ:ETSYGet Rating) last announced its earnings results on Wednesday, November 2nd. The specialty retailer reported $0.58 earnings per share 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 business had revenue of $594.47 million for the quarter, compared to the consensus estimate of $560.19 million. As a group, analysts expect that Etsy will post -5.26 EPS for the current year.

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.

Further Reading

Analyst Recommendations for Etsy (NASDAQ:ETSY)

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