Etsy, Inc. (NASDAQ:ETSY) Receives $62.54 Consensus Target Price from Brokerages

Shares of Etsy, Inc. (NASDAQ:ETSY) have earned an average rating of “Hold” from the twenty-six analysts that are covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $62.54.

A number of brokerages have recently issued reports on ETSY. Morgan Stanley cut their target price on shares of Etsy from $47.00 to $45.00 and set an “underweight” rating on the stock in a research note on Monday, January 13th. Barclays reduced their target price on Etsy from $60.00 to $55.00 and set an “equal weight” rating on the stock in a report on Thursday, October 31st. Moffett Nathanson upped their price target on Etsy from $60.00 to $61.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Wedbush decreased their price objective on shares of Etsy from $65.00 to $58.00 and set a “neutral” rating for the company in a report on Tuesday, October 22nd. Finally, The Goldman Sachs Group downgraded shares of Etsy from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $70.00 to $45.00 in a research report on Tuesday, October 15th.

Etsy Stock Performance

Shares of ETSY opened at $53.09 on Friday. Etsy has a one year low of $47.10 and a one year high of $80.30. The stock has a 50-day moving average price of $54.77 and a 200 day moving average price of $54.74. The company has a market capitalization of $5.97 billion, a P/E ratio of 27.09, a P/E/G ratio of 2.89 and a beta of 1.99.

Etsy (NASDAQ:ETSY) last issued 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 the consensus estimate of $652.47 million. During the same quarter last year, the firm posted $0.64 EPS. The firm’s quarterly revenue was up 4.1% on a year-over-year basis. As a group, equities research analysts forecast that Etsy will post 2.26 earnings per share for the current fiscal year.

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

Insider Activity

In other news, insider Nicholas Daniel sold 750 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $52.50, for a total value of $39,375.00. Following the transaction, the insider now directly owns 24,371 shares of the company’s stock, valued at approximately $1,279,477.50. This represents a 2.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Etsy

A number of hedge funds and other institutional investors have recently made changes to their positions in ETSY. Robeco Institutional Asset Management B.V. raised its position in Etsy by 74.1% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 447,128 shares of the specialty retailer’s stock valued at $23,649,000 after acquiring an additional 190,294 shares in the last quarter. Geneos Wealth Management Inc. lifted its stake in shares of Etsy by 1,298.9% in the 4th quarter. Geneos Wealth Management Inc. now owns 3,931 shares of the specialty retailer’s stock valued at $208,000 after purchasing an additional 3,650 shares during the last quarter. JBGlobal.com LLC acquired a new position in Etsy during the fourth quarter worth $404,000. Lmcg Investments LLC bought a new position in Etsy during the fourth quarter valued at about $1,435,000. Finally, Ameritas Advisory Services LLC lifted its position in shares of Etsy by 3.9% in the fourth quarter. Ameritas Advisory Services LLC now owns 16,662 shares of the specialty retailer’s stock worth $881,000 after buying an additional 631 shares during the last quarter. 99.53% of the stock is owned by hedge funds and other institutional investors.

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.