Etsy (NASDAQ:ETSY – Get Free Report) was upgraded by investment analysts at Jefferies Financial Group from an “underperform” rating to a “hold” rating in a research report issued to clients and investors on Monday, Marketbeat.com reports. The firm presently has a $55.00 price target on the specialty retailer’s stock, up from their prior price target of $45.00. Jefferies Financial Group’s price objective points to a potential upside of 2.98% from the company’s previous close.
ETSY has been the topic of a number of other research reports. Bank of America cut their price objective on shares of Etsy from $61.00 to $58.00 and set a “neutral” rating on the stock in a report on Thursday, October 24th. UBS Group cut their price target on Etsy from $65.00 to $58.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 15th. Truist Financial lowered their price objective on Etsy from $76.00 to $70.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. Moffett Nathanson upped their target price on Etsy from $60.00 to $61.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Finally, Citigroup decreased their price objective on shares of Etsy from $65.00 to $54.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. Four research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $62.54.
View Our Latest Stock Analysis on Etsy
Etsy Trading Down 0.1 %
Etsy (NASDAQ:ETSY – Get Free Report) last issued its earnings results on Wednesday, October 30th. The specialty retailer reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.09). The company had revenue of $662.40 million during the quarter, compared to analysts’ expectations of $652.47 million. Etsy had a negative return on equity of 46.79% and a net margin of 9.17%. Etsy’s quarterly revenue was up 4.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.64 EPS. Analysts forecast that Etsy will post 2.25 earnings per share for the current year.
Etsy declared that its board has approved a stock repurchase program on Wednesday, October 30th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the specialty retailer to buy up to 17.8% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.
Insider Buying and Selling
In other Etsy news, insider Nicholas Daniel sold 750 shares of Etsy stock in a transaction on Friday, November 1st. The stock was sold at an average price of $52.50, for a total transaction of $39,375.00. Following the sale, the insider now owns 24,371 shares of the company’s stock, valued at $1,279,477.50. The trade was a 2.99 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.60% of the company’s stock.
Institutional Investors Weigh In On Etsy
Several institutional investors have recently bought and sold shares of ETSY. Blue Trust Inc. raised its holdings in Etsy by 106.5% during the third quarter. Blue Trust Inc. now owns 448 shares of the specialty retailer’s stock worth $26,000 after purchasing an additional 231 shares in the last quarter. UMB Bank n.a. boosted its position in shares of Etsy by 112.3% in the 3rd quarter. UMB Bank n.a. now owns 552 shares of the specialty retailer’s stock valued at $31,000 after purchasing an additional 292 shares during the period. American Century Companies Inc. boosted its holdings in shares of Etsy by 3.0% in the second quarter. American Century Companies Inc. now owns 12,519 shares of the specialty retailer’s stock worth $738,000 after buying an additional 367 shares during the period. Coldstream Capital Management Inc. grew its position in Etsy by 11.6% during the 3rd quarter. Coldstream Capital Management Inc. now owns 4,302 shares of the specialty retailer’s stock worth $239,000 after purchasing an additional 448 shares in the last quarter. Finally, Versant Capital Management Inc raised its stake in Etsy by 153.1% during the 4th quarter. Versant Capital Management Inc now owns 825 shares of the specialty retailer’s stock valued at $44,000 after purchasing an additional 499 shares during the period. Institutional investors and hedge funds own 99.53% of the company’s stock.
About Etsy
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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