UBS Group Cuts Etsy (NASDAQ:ETSY) Price Target to $58.00

Etsy (NASDAQ:ETSY) had its price objective reduced by research analysts at UBS Group from $65.00 to $58.00 in a research note issued on Tuesday, Benzinga reports. The brokerage currently has a “neutral” rating on the specialty retailer’s stock. UBS Group’s price target points to a potential upside of 14.42% from the company’s previous close.

Several other brokerages have also recently issued reports on ETSY. Stifel Nicolaus decreased their price objective on Etsy from $65.00 to $64.00 and set a “hold” rating for the company in a report on Thursday, August 1st. Wells Fargo & Company decreased their price target on Etsy from $58.00 to $47.00 and set an “underweight” rating for the company in a report on Thursday, October 3rd. Truist Financial reaffirmed a “buy” rating and set a $76.00 price objective on shares of Etsy in a research note on Tuesday, September 24th. Oppenheimer cut shares of Etsy from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 1st. Finally, Wolfe Research initiated coverage on shares of Etsy in a report on Tuesday, July 16th. They set a “peer perform” rating on the stock. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Etsy has an average rating of “Hold” and a consensus price target of $69.36.

Etsy Trading Up 2.2 %

Shares of ETSY stock traded up $1.08 during mid-day trading on Tuesday, reaching $50.69. The stock had a trading volume of 808,404 shares, compared to its average volume of 3,733,718. Etsy has a 1-year low of $48.07 and a 1-year high of $89.58. The firm has a market cap of $5.93 billion, a price-to-earnings ratio of 23.15, a PEG ratio of 4.99 and a beta of 1.97. The business’s fifty day moving average is $53.67 and its 200-day moving average is $59.66.

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

Insider Transactions at Etsy

In other news, CAO Merilee Buckley sold 1,676 shares of the firm’s stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $51.11, for a total value of $85,660.36. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Etsy news, CAO Merilee Buckley sold 1,676 shares of the company’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $51.11, for a total value of $85,660.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Toni Thompson Nadal sold 1,443 shares of Etsy stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $51.11, for a total value of $73,751.73. Following the transaction, the insider now owns 592 shares in the company, valued at approximately $30,257.12. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,619 shares of company stock valued at $300,670 over the last ninety days. Insiders own 2.60% of the company’s stock.

Institutional Trading of Etsy

A number of hedge funds and other institutional investors have recently modified their holdings of ETSY. Sunbelt Securities Inc. grew its holdings in Etsy by 3,900.0% during the 1st quarter. Sunbelt Securities Inc. now owns 440 shares of the specialty retailer’s stock worth $30,000 after acquiring an additional 429 shares in the last quarter. UMB Bank n.a. boosted its stake in 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 during the period. Larson Financial Group LLC boosted its stake in Etsy by 1,576.5% during the 1st quarter. Larson Financial Group LLC now owns 570 shares of the specialty retailer’s stock worth $39,000 after purchasing an additional 536 shares during the period. 1620 Investment Advisors Inc. purchased a new position in Etsy during the 2nd quarter worth $42,000. Finally, Headlands Technologies LLC acquired a new position in Etsy in the first quarter valued at $59,000. 99.53% of the stock is owned by institutional investors and hedge funds.

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.