Etsy (NASDAQ:ETSY) Upgraded to Outperform at Wolfe Research

Etsy (NASDAQ:ETSY – Get Free Report) was upgraded by stock analysts at Wolfe Research from a “peer perform” rating to an “outperform” rating in a report issued on Thursday, MarketBeat Ratings reports. The brokerage currently has a $100.00 price target on the specialty retailer’s stock. Wolfe Research’s price target indicates a potential upside of 54.89% from the stock’s previous close.

Several other brokerages have also recently weighed in on ETSY. StockNews.com assumed coverage on shares of Etsy in a research note on Thursday, August 17th. They set a “hold” rating for the company. Truist Financial upped their target price on Etsy from $120.00 to $126.00 and gave the company a “buy” rating in a report on Thursday, August 3rd. Needham & Company LLC reaffirmed a “buy” rating and set a $130.00 price objective on shares of Etsy in a report on Wednesday, September 6th. BTIG Research decreased their price objective on Etsy from $130.00 to $108.00 and set a “buy” rating for the company in a report on Friday, June 30th. Finally, Morgan Stanley dropped their price objective on shares of Etsy from $74.00 to $72.00 and set an “equal weight” rating on the stock in a report on Thursday, August 3rd. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, Etsy has a consensus rating of “Hold” and an average target price of $114.54.

Check Out Our Latest Stock Report on ETSY

Etsy Trading Down 0.4 %

Shares of NASDAQ ETSY opened at $64.56 on Thursday. Etsy has a 12-month low of $63.51 and a 12-month high of $149.91. The stock has a fifty day moving average price of $82.04 and a 200 day moving average price of $92.71. The company has a market cap of $7.94 billion, a P/E ratio of -11.00, a P/E/G ratio of 3.51 and a beta of 2.03.

Etsy (NASDAQ:ETSY – Get Free Report) last announced its quarterly earnings data on Wednesday, August 2nd. The specialty retailer reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.42. The firm had revenue of $628.88 million during the quarter, compared to the consensus estimate 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 forecast that Etsy will post 2.73 EPS for the current fiscal year.

Insider Activity at Etsy

In other Etsy news, insider Nicholas Daniel sold 1,760 shares of the stock in a transaction dated Friday, July 21st. The shares were sold at an average price of $101.65, for a total value of $178,904.00. Following the transaction, the insider now directly owns 8,704 shares of the company’s stock, valued at approximately $884,761.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Marla J. Blow sold 600 shares of the firm’s stock in a transaction on Friday, August 25th. The stock was sold at an average price of $73.11, for a total value of $43,866.00. Following the completion of the transaction, the director now directly owns 3,289 shares of the company’s stock, valued at $240,458.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Nicholas Daniel sold 1,760 shares of the firm’s stock in a transaction dated Friday, July 21st. The shares were sold at an average price of $101.65, for a total value of $178,904.00. Following the sale, the insider now owns 8,704 shares in the company, valued at approximately $884,761.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 85,998 shares of company stock valued at $7,859,120. Corporate insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its position in Etsy by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 13,703,486 shares of the specialty retailer’s stock worth $1,703,069,000 after buying an additional 118,034 shares during the last quarter. Capital International Investors raised its position in shares of Etsy by 21.4% during the second quarter. Capital International Investors now owns 8,021,750 shares of the specialty retailer’s stock valued at $678,720,000 after buying an additional 1,415,378 shares during the last quarter. Capital World Investors grew its position in shares of Etsy by 13.4% during the first quarter. Capital World Investors now owns 3,457,269 shares of the specialty retailer’s stock valued at $429,669,000 after purchasing an additional 409,540 shares in the last quarter. Clearbridge Investments LLC grew its holdings in shares of Etsy by 8.2% in the first quarter. Clearbridge Investments LLC now owns 3,253,899 shares of the specialty retailer’s stock valued at $362,257,000 after purchasing an additional 245,355 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Etsy by 1.1% during the 2nd quarter. Geode Capital Management LLC now owns 2,698,644 shares of the specialty retailer’s stock valued at $227,749,000 after buying an additional 28,312 shares in the last quarter. 92.98% of the stock is owned by hedge funds and other 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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