Etsy, Inc. (NASDAQ:ETSY) Receives Consensus Rating of “Hold” from Analysts

Etsy, Inc. (NASDAQ:ETSY) has received a consensus recommendation of “Hold” from the twenty-five brokerages that are covering the stock, Marketbeat reports. Four analysts have rated the stock with a sell recommendation, thirteen have assigned a hold recommendation, seven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $63.17.

ETSY has been the subject of a number of recent research reports. Moffett Nathanson raised their price target on Etsy from $60.00 to $61.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th. Wells Fargo & Company decreased their target price on shares of Etsy from $47.00 to $44.00 and set an “underweight” rating for the company in a research report on Friday, November 1st. Wedbush cut their price target on shares of Etsy from $65.00 to $58.00 and set a “neutral” rating on the stock in a report on Tuesday, October 22nd. Stifel Nicolaus lowered their target price on shares of Etsy from $64.00 to $56.00 and set a “hold” rating on the stock in a research report on Monday, October 28th. Finally, Bank of America reduced their price target on Etsy from $61.00 to $58.00 and set a “neutral” rating for the company in a research report on Thursday, October 24th.

Etsy Trading Down 0.6 %

NASDAQ:ETSY opened at $55.13 on Wednesday. Etsy has a 1-year low of $47.10 and a 1-year high of $85.22. The firm has a market capitalization of $6.20 billion, a price-to-earnings ratio of 28.13, a PEG ratio of 6.96 and a beta of 1.99. The business’s fifty day moving average price is $53.85 and its 200 day moving average price is $55.64.

Etsy (NASDAQ:ETSY) last posted its quarterly earnings results on Wednesday, October 30th. The specialty retailer reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.09). Etsy had a negative return on equity of 46.79% and a net margin of 9.17%. The company had revenue of $662.40 million during the quarter, compared to analysts’ expectations of $652.47 million. During the same period last year, the company earned $0.64 earnings per share. Etsy’s revenue for the quarter was up 4.1% compared to the same quarter last year. Equities analysts forecast that Etsy will post 2.25 earnings per share for the current year.

Etsy announced that its Board of Directors has approved a share buyback program on Wednesday, October 30th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the specialty retailer to buy up to 17.8% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

Insider Transactions at Etsy

In other news, insider Nicholas Daniel sold 750 shares of Etsy stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $53.15, for a total transaction of $39,862.50. Following the sale, the insider now directly owns 25,121 shares in the company, valued at approximately $1,335,181.15. The trade was a 2.90 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Toni Thompson Nadal sold 1,443 shares of the company’s stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $51.11, for a total transaction of $73,751.73. Following the completion of the sale, the insider now directly owns 592 shares in the company, valued at approximately $30,257.12. The trade was a 70.91 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,069 shares of company stock valued at $261,888. 2.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Etsy

Hedge funds and other institutional investors have recently modified their holdings of the stock. Blue Trust Inc. raised its stake 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 acquiring an additional 231 shares in the last quarter. UMB Bank n.a. increased its position in shares of Etsy by 112.3% during the 3rd quarter. UMB Bank n.a. now owns 552 shares of the specialty retailer’s stock worth $31,000 after purchasing an additional 292 shares in the last quarter. Capital Performance Advisors LLP bought a new position in Etsy during the 3rd quarter valued at about $43,000. Prospera Private Wealth LLC acquired a new position in Etsy in the third quarter valued at about $59,000. Finally, Denver PWM LLC bought a new stake in Etsy during the second quarter worth about $82,000. Institutional investors 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.