UBS Group Cuts Etsy (NASDAQ:ETSY) Price Target to $54.00

Etsy (NASDAQ:ETSY) had its target price reduced by UBS Group from $55.00 to $54.00 in a report released on Thursday morning,Benzinga reports. They currently have a neutral rating on the specialty retailer’s stock.

A number of other brokerages have also weighed in on ETSY. Barclays reduced their target price on shares of Etsy from $60.00 to $55.00 and set an “equal weight” rating for the company in a research note on Thursday, October 31st. Needham & Company LLC restated a “buy” rating and set a $60.00 target price on shares of Etsy in a report on Thursday. Citigroup raised their price objective on Etsy from $54.00 to $56.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. Moffett Nathanson lifted their target price on shares of Etsy from $60.00 to $61.00 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. Finally, Stifel Nicolaus decreased their price objective on Etsy from $64.00 to $56.00 and set a “hold” rating on the stock in a report on Monday, October 28th. Four investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $58.78.

Etsy Stock Down 0.3 %

Shares of ETSY stock opened at $51.26 on Thursday. Etsy has a 12 month low of $47.10 and a 12 month high of $74.82. The firm has a market cap of $5.49 billion, a price-to-earnings ratio of 21.63, a PEG ratio of 2.57 and a beta of 2.00. The stock has a 50-day moving average price of $54.43 and a 200 day moving average price of $53.78.

Etsy (NASDAQ:ETSY) last posted its earnings results on Wednesday, February 19th. The specialty retailer reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.08. The company had revenue of $852.16 million for the quarter, compared to analyst estimates of $861.37 million. Etsy had a net margin of 10.80% and a negative return on equity of 46.62%. The business’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period last year, the business posted $0.62 earnings per share. Sell-side analysts predict that Etsy will post 2.57 earnings per share for the current fiscal year.

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

Insider Activity

In other news, insider Nicholas Daniel sold 1,500 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $55.34, for a total value of $83,010.00. Following the transaction, the insider now directly owns 22,198 shares of the company’s stock, valued at $1,228,437.32. The trade was a 6.33 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Etsy

Large investors have recently added to or reduced their stakes in the business. Neo Ivy Capital Management acquired a new stake in shares of Etsy during the 4th quarter worth approximately $3,334,000. GTS Securities LLC boosted its stake in Etsy by 142.3% during the fourth quarter. GTS Securities LLC now owns 14,667 shares of the specialty retailer’s stock worth $776,000 after acquiring an additional 49,333 shares in the last quarter. PharVision Advisers LLC acquired a new stake in Etsy in the fourth quarter worth $283,000. Voloridge Investment Management LLC increased its stake in Etsy by 40.6% in the fourth quarter. Voloridge Investment Management LLC now owns 476,457 shares of the specialty retailer’s stock valued at $25,200,000 after purchasing an additional 137,602 shares in the last quarter. Finally, iSAM Funds UK Ltd acquired a new position in shares of Etsy during the fourth quarter valued at about $288,000. Institutional investors and hedge funds own 99.53% of the company’s stock.

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.