Etsy (NASDAQ:ETSY) Upgraded to Hold at Jefferies Financial Group

Jefferies Financial Group upgraded shares of Etsy (NASDAQ:ETSY) from an underperform rating to a hold rating in a research report sent to investors on Monday, MarketBeat.com reports. The brokerage currently has $55.00 price target on the specialty retailer’s stock, up from their previous price target of $45.00.

Several other research analysts have also weighed in on ETSY. JMP Securities reissued a “market perform” rating on shares of Etsy in a research report on Monday, December 16th. Bank of America dropped their price target on Etsy from $61.00 to $58.00 and set a “neutral” rating on the stock in a research note on Thursday, October 24th. Wedbush reduced their price objective on shares of Etsy from $65.00 to $58.00 and set a “neutral” rating for the company in a research report on Tuesday, October 22nd. Wells Fargo & Company dropped their target price on shares of Etsy from $47.00 to $44.00 and set an “underweight” rating on the stock in a research report on Friday, November 1st. Finally, Needham & Company LLC restated a “buy” rating and issued a $60.00 price target on shares of Etsy in a report on Thursday, October 31st. Four analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $62.54.

Etsy Stock Performance

Shares of NASDAQ ETSY opened at $53.45 on Monday. The stock’s fifty day moving average is $54.79 and its 200 day moving average is $55.03. The stock has a market capitalization of $6.01 billion, a P/E ratio of 27.27, a PEG ratio of 6.96 and a beta of 1.99. Etsy has a 52 week low of $47.10 and a 52 week high of $80.30.

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

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

Insider Transactions at Etsy

In other Etsy news, insider Nicholas Daniel sold 750 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now owns 24,371 shares in the company, valued at approximately $1,279,477.50. The trade was a 2.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Etsy

Institutional investors and hedge funds have recently bought and sold shares of the stock. Blue Trust Inc. boosted its holdings in Etsy by 106.5% in the third quarter. Blue Trust Inc. now owns 448 shares of the specialty retailer’s stock valued at $26,000 after acquiring an additional 231 shares during the last quarter. UMB Bank n.a. lifted its stake 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 in the last quarter. Capital Performance Advisors LLP purchased a new stake in shares of Etsy during the 3rd quarter worth about $43,000. Versant Capital Management Inc grew its holdings in shares of Etsy by 153.1% during the 4th quarter. Versant Capital Management Inc now owns 825 shares of the specialty retailer’s stock worth $44,000 after purchasing an additional 499 shares during the period. Finally, Prospera Private Wealth LLC purchased a new stake in shares of Etsy during the 3rd quarter worth about $59,000. Hedge funds and other 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.