Etsy (NASDAQ:ETSY) Given Neutral Rating at Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their neutral rating on shares of Etsy (NASDAQ:ETSY) in a research report sent to investors on Monday morning, Benzinga reports. The firm currently has a $50.00 target price on the specialty retailer’s stock.

Other equities research analysts have also issued research reports about the company. Loop Capital dropped their price objective on Etsy from $50.00 to $45.00 and set a sell rating for the company in a research note on Monday, August 12th. Wolfe Research started coverage on Etsy in a report on Tuesday, July 16th. They set a peer perform rating for the company. Wedbush reaffirmed a neutral rating and issued a $65.00 target price on shares of Etsy in a research note on Monday, July 22nd. Truist Financial reiterated a buy rating and set a $76.00 target price on shares of Etsy in a research report on Tuesday, September 24th. Finally, 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 report on Tuesday, June 25th. Four investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus price target of $70.61.

Etsy Stock Down 0.9 %

ETSY stock opened at $51.84 on Monday. Etsy has a twelve month low of $50.63 and a twelve month high of $89.58. The firm has a market capitalization of $6.06 billion, a PE ratio of 23.63, a PEG ratio of 5.39 and a beta of 1.97. The stock has a 50-day simple moving average of $55.55 and a two-hundred day simple moving average of $60.70.

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

Insider Buying and Selling

In other Etsy news, insider Nicholas Daniel sold 750 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $55.40, for a total transaction of $41,550.00. Following the completion of the sale, the insider now owns 18,083 shares of the company’s stock, valued at approximately $1,001,798.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have 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 Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Corient Private Wealth LLC increased its stake in shares of Etsy by 48.9% during the fourth quarter. Corient Private Wealth LLC now owns 12,568 shares of the specialty retailer’s stock valued at $1,019,000 after buying an additional 4,126 shares during the period. Treasurer of the State of North Carolina boosted its holdings in Etsy by 0.9% in the fourth quarter. Treasurer of the State of North Carolina now owns 55,945 shares of the specialty retailer’s stock valued at $4,534,000 after acquiring an additional 490 shares in the last quarter. California State Teachers Retirement System increased its position in Etsy by 1.5% during the 4th quarter. California State Teachers Retirement System now owns 196,627 shares of the specialty retailer’s stock valued at $15,937,000 after purchasing an additional 2,846 shares during the period. Campbell & CO Investment Adviser LLC bought a new position in Etsy in the 4th quarter worth $676,000. Finally, Jones Financial Companies Lllp lifted its position in shares of Etsy by 64.0% in the 4th quarter. Jones Financial Companies Lllp now owns 953 shares of the specialty retailer’s stock worth $77,000 after purchasing an additional 372 shares during the period. 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.