Etsy (NASDAQ:ETSY – Get Free Report) had its price objective dropped by equities researchers at Evercore ISI from $105.00 to $85.00 in a report released on Tuesday, FlyOnTheWall reports. Evercore ISI’s price objective suggests a potential upside of 31.33% from the company’s previous close.
Several other research firms have also recently weighed in on ETSY. Guggenheim lowered their price objective on shares of Etsy from $125.00 to $80.00 and set a “buy” rating on the stock in a research report on Wednesday, September 13th. BTIG Research reduced their price objective on Etsy from $130.00 to $108.00 and set a “buy” rating for the company in a research note on Friday, June 30th. Jefferies Financial Group increased their price target on shares of Etsy from $75.00 to $80.00 and gave the stock an “underperform” rating in a research report on Tuesday, July 25th. DA Davidson dropped their price objective on shares of Etsy from $166.00 to $157.00 and set a “buy” rating on the stock in a research note on Thursday, August 3rd. Finally, Loop Capital decreased their target price on shares of Etsy from $90.00 to $70.00 and set a “hold” rating for the company in a research note on Monday, September 11th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Etsy currently has an average rating of “Hold” and a consensus target price of $113.08.
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Etsy Stock Performance
Shares of NASDAQ:ETSY opened at $64.72 on Tuesday. The stock has a market capitalization of $7.96 billion, a price-to-earnings ratio of -11.03, a PEG ratio of 3.24 and a beta of 2.03. Etsy has a 1-year low of $62.89 and a 1-year high of $149.91. The company has a 50 day moving average price of $78.10 and a 200 day moving average price of $89.58.
Etsy (NASDAQ:ETSY – Get Free Report) last released its quarterly earnings results on Wednesday, August 2nd. The specialty retailer reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.42. The business had revenue of $628.88 million during the quarter, compared to analyst estimates of $621.87 million. Etsy had a negative return on equity of 69.10% and a negative net margin of 26.84%. On average, sell-side analysts expect that Etsy will post 2.73 EPS for the current fiscal year.
Insider Buying and Selling at Etsy
In related news, insider Nicholas Daniel sold 1,760 shares of the stock in a transaction that occurred on Friday, July 21st. The stock was sold at an average price of $101.65, for a total transaction of $178,904.00. Following the completion of the sale, the insider now owns 8,704 shares in the company, valued at approximately $884,761.60. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Nicholas Daniel sold 1,760 shares of the business’s stock in a transaction on Friday, July 21st. The shares were sold at an average price of $101.65, for a total transaction of $178,904.00. Following the transaction, the insider now owns 8,704 shares of the company’s stock, valued at $884,761.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Josh Silverman sold 10,425 shares of the stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $64.77, for a total transaction of $675,227.25. Following the completion of the sale, the chief executive officer now directly owns 14,674 shares of the company’s stock, valued at $950,434.98. The disclosure for this sale can be found here. Insiders sold 75,573 shares of company stock worth $6,546,717 over the last ninety days. Company insiders own 2.60% of the company’s stock.
Hedge Funds Weigh In On Etsy
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. OLD Mission Capital LLC acquired a new stake in shares of Etsy during the 4th quarter worth approximately $25,000. First Capital Advisors Group LLC. acquired a new stake in Etsy during the second quarter worth $25,000. Valley National Advisers Inc. increased its holdings in Etsy by 129.5% in the 1st quarter. Valley National Advisers Inc. now owns 257 shares of the specialty retailer’s stock valued at $26,000 after buying an additional 145 shares during the period. Spire Wealth Management lifted its holdings in shares of Etsy by 184.1% during the 1st quarter. Spire Wealth Management now owns 233 shares of the specialty retailer’s stock worth $26,000 after acquiring an additional 151 shares during the period. Finally, CoreCap Advisors LLC acquired a new stake in shares of Etsy during the 4th quarter valued at about $28,000. 92.98% of the stock is currently owned by institutional investors.
Etsy Company Profile
(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, France, and India. Its primary marketplace is Etsy.com that connects artisans and entrepreneurs with various consumers.
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