Stifel Nicolaus Issues Pessimistic Forecast for Etsy (NASDAQ:ETSY) Stock Price

Etsy (NASDAQ:ETSYFree Report) had its price target cut by Stifel Nicolaus from $64.00 to $56.00 in a research note issued to investors on Monday, Benzinga reports. They currently have a hold rating on the specialty retailer’s stock.

ETSY has been the subject of a number of other reports. Needham & Company LLC restated a “buy” rating and issued a $60.00 target price on shares of Etsy in a research note on Wednesday, October 23rd. Wedbush dropped their target price on shares of Etsy from $65.00 to $58.00 and set a “neutral” rating for the company in a research note on Tuesday, October 22nd. Oppenheimer cut shares of Etsy from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 1st. The Goldman Sachs Group cut shares of Etsy from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $70.00 to $45.00 in a research report on Tuesday, October 15th. Finally, Wells Fargo & Company lowered their target price on Etsy from $58.00 to $47.00 and set an “underweight” rating for the company in a research note on Thursday, October 3rd. Four analysts have rated the stock with a sell rating, twelve have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $66.48.

View Our Latest Analysis on Etsy

Etsy Stock Up 1.1 %

NASDAQ:ETSY opened at $47.99 on Monday. The firm has a market cap of $5.61 billion, a PE ratio of 21.91, a price-to-earnings-growth ratio of 4.85 and a beta of 1.97. Etsy has a 12 month low of $47.10 and a 12 month high of $89.58. The company’s 50-day moving average price is $52.70 and its two-hundred day moving average price is $58.30.

Etsy (NASDAQ:ETSYGet Free Report) last announced its earnings results on Wednesday, July 31st. The specialty retailer reported $0.41 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.05). Etsy had a negative return on equity of 51.94% and a net margin of 10.36%. The business had revenue of $647.80 million during the quarter, compared to analyst estimates of $629.87 million. During the same period in the previous year, the firm earned $0.83 earnings per share. The firm’s revenue was up 3.0% compared to the same quarter last year. On average, research analysts expect that Etsy will post 2.38 EPS for the current fiscal year.

Etsy declared that its Board of Directors has authorized a share repurchase program on Wednesday, October 30th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the specialty retailer to repurchase up to 17.8% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Activity

In related news, insider Nicholas Daniel sold 750 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $55.40, for a total transaction of $41,550.00. Following the sale, the insider now owns 18,083 shares of the company’s stock, valued at approximately $1,001,798.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, insider Nicholas Daniel sold 750 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $55.40, for a total value of $41,550.00. Following the completion of the transaction, the insider now owns 18,083 shares in the company, valued at $1,001,798.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Merilee Buckley sold 1,676 shares of the firm’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $51.11, for a total transaction of $85,660.36. The disclosure for this sale can be found here. Insiders sold 4,619 shares of company stock valued at $240,825 in the last quarter. Company insiders own 2.60% of the company’s stock.

Institutional Trading of Etsy

A number of institutional investors have recently modified their holdings of the company. Amalgamated Bank lifted its stake in Etsy by 9.9% in the 3rd quarter. Amalgamated Bank now owns 37,176 shares of the specialty retailer’s stock valued at $2,064,000 after acquiring an additional 3,351 shares in the last quarter. United Advisor Group LLC bought a new stake in shares of Etsy in the third quarter worth $220,000. Moloney Securities Asset Management LLC acquired a new position in Etsy during the third quarter worth $1,134,000. Harbor Capital Advisors Inc. grew its position in Etsy by 134.9% in the third quarter. Harbor Capital Advisors Inc. now owns 48,226 shares of the specialty retailer’s stock valued at $2,678,000 after purchasing an additional 27,694 shares in the last quarter. Finally, Rice Hall James & Associates LLC increased its stake in Etsy by 647.7% in the 3rd quarter. Rice Hall James & Associates LLC now owns 191,062 shares of the specialty retailer’s stock valued at $10,610,000 after buying an additional 165,508 shares during the last quarter. 99.53% of the stock is currently owned by institutional investors.

About Etsy

(Get Free Report)

Etsy, Inc, together with its subsidiaries, operates two-sided online marketplaces that connect buyers and sellers in the United States, the United Kingdom, Germany, Canada, Australia, and France. 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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