Etsy, Inc. (NASDAQ:ETSY) Given Average Rating of “Hold” by Analysts

Etsy, Inc. (NASDAQ:ETSY) has earned an average recommendation of “Hold” from the twenty-six analysts that are covering the stock, MarketBeat reports. Four equities research analysts have rated the stock with a sell recommendation, fourteen have issued a hold recommendation, seven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $62.54.

Several research firms have commented on ETSY. Morgan Stanley lowered their price target on Etsy from $47.00 to $45.00 and set an “underweight” rating for the company in a report on Monday, January 13th. Barclays lowered their target price on shares of Etsy from $60.00 to $55.00 and set an “equal weight” rating for the company in a report on Thursday, October 31st. Citigroup cut their price target on shares of Etsy from $65.00 to $54.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. Truist Financial dropped their price objective on Etsy from $76.00 to $70.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Finally, UBS Group reduced their target price on Etsy from $65.00 to $58.00 and set a “neutral” rating on the stock in a report on Tuesday, October 15th.

Insider Activity

In related news, insider Nicholas Daniel sold 750 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $52.50, for a total value of $39,375.00. Following the completion of the sale, the insider now directly owns 24,371 shares of the company’s stock, valued at $1,279,477.50. The trade was a 2.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ETSY. Blue Trust Inc. raised its position in shares of Etsy by 106.5% during the 3rd quarter. Blue Trust Inc. now owns 448 shares of the specialty retailer’s stock worth $26,000 after purchasing an additional 231 shares during the period. UMB Bank n.a. lifted its stake in Etsy by 112.3% in the third quarter. UMB Bank n.a. now owns 552 shares of the specialty retailer’s stock valued at $31,000 after buying an additional 292 shares during the last quarter. Capital Performance Advisors LLP acquired a new position in shares of Etsy during the third quarter valued at $43,000. Versant Capital Management Inc grew its position in shares of Etsy by 153.1% during the fourth quarter. Versant Capital Management Inc now owns 825 shares of the specialty retailer’s stock worth $44,000 after acquiring an additional 499 shares during the last quarter. Finally, Prospera Private Wealth LLC bought a new position in shares of Etsy during the third quarter worth about $59,000. 99.53% of the stock is currently owned by institutional investors.

Etsy Price Performance

Shares of NASDAQ ETSY opened at $53.12 on Friday. The company has a market cap of $5.98 billion, a PE ratio of 27.10, a price-to-earnings-growth ratio of 7.23 and a beta of 1.99. The company has a 50-day simple moving average of $54.81 and a 200-day simple moving average of $54.88. Etsy has a 12 month low of $47.10 and a 12 month high of $80.30.

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

Etsy declared that its board has approved a stock buyback plan on Wednesday, October 30th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the specialty retailer to repurchase up to 17.8% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

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.