Etsy’s (ETSY) Neutral Rating Reaffirmed at Cantor Fitzgerald

Etsy (NASDAQ:ETSY)‘s stock had its “neutral” rating reaffirmed by equities researchers at Cantor Fitzgerald in a research note issued on Monday, Benzinga reports. They currently have a $50.00 price objective on the specialty retailer’s stock. Cantor Fitzgerald’s target price suggests a potential downside of 7.30% from the company’s previous close.

A number of other equities research analysts also recently issued reports on ETSY. Wells Fargo & Company decreased their price target on shares of Etsy from $58.00 to $56.00 and set an “underweight” rating on the stock in a research note on Tuesday, June 25th. Piper Sandler reaffirmed a “neutral” rating and issued a $56.00 price target on shares of Etsy in a report on Friday, August 23rd. Stifel Nicolaus reduced their price objective on Etsy from $65.00 to $64.00 and set a “hold” rating on the stock in a research note on Thursday, August 1st. Wedbush reaffirmed a “neutral” rating and issued a $65.00 price objective on shares of Etsy in a research note on Monday, July 22nd. Finally, Loop Capital cut their target price on Etsy from $50.00 to $45.00 and set a “sell” rating on the stock in a research report on Monday, August 12th. Four equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $70.61.

Etsy Stock Performance

Shares of ETSY traded up $0.03 during midday trading on Monday, hitting $53.94. 613,359 shares of the company traded hands, compared to its average volume of 3,777,148. The stock has a market cap of $6.31 billion, a price-to-earnings ratio of 24.63, a PEG ratio of 5.10 and a beta of 1.97. The firm has a 50 day moving average of $56.67 and a 200-day moving average of $61.43. Etsy has a 52 week low of $50.63 and a 52 week high of $89.58.

Etsy (NASDAQ:ETSY) last announced its quarterly earnings results on Wednesday, July 31st. The specialty retailer reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.05). The firm had revenue of $647.80 million for the quarter, compared to the consensus estimate of $629.87 million. Etsy had a net margin of 10.36% and a negative return on equity of 51.94%. Etsy’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.83 earnings per share. Sell-side analysts predict that Etsy will post 2.38 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Etsy news, insider Nicholas Daniel sold 750 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $55.40, for a total transaction of $41,550.00. Following the transaction, the insider now owns 18,083 shares of the company’s stock, valued at approximately $1,001,798.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 2,000 shares of company stock valued at $116,395 over the last three months. 2.60% of the stock is owned by company insiders.

Institutional Trading of Etsy

Several hedge funds and other institutional investors have recently bought and sold shares of ETSY. Sunbelt Securities Inc. raised its holdings in Etsy by 3,900.0% in the first quarter. Sunbelt Securities Inc. now owns 440 shares of the specialty retailer’s stock worth $30,000 after purchasing an additional 429 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in Etsy by 402.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 447 shares of the specialty retailer’s stock worth $36,000 after purchasing an additional 358 shares during the last quarter. Larson Financial Group LLC increased its position in shares of Etsy by 1,576.5% during the first quarter. Larson Financial Group LLC now owns 570 shares of the specialty retailer’s stock worth $39,000 after purchasing an additional 536 shares in the last quarter. Quadrant Capital Group LLC boosted its position in shares of Etsy by 56.4% in the 4th quarter. Quadrant Capital Group LLC now owns 688 shares of the specialty retailer’s stock worth $56,000 after purchasing an additional 248 shares in the last quarter. Finally, 1620 Investment Advisors Inc. purchased a new position in Etsy during the 2nd quarter worth $42,000. Institutional investors own 99.53% of the company’s stock.

Etsy Company Profile

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.