Brokerages Set Etsy, Inc. (NASDAQ:ETSY) Price Target at $58.78

Etsy, Inc. (NASDAQ:ETSY) has received a consensus rating of “Hold” from the twenty-six ratings firms that are currently covering the stock, MarketBeat Ratings reports. Four investment analysts have rated the stock with a sell recommendation, fourteen have given a hold recommendation, seven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $58.78.

Several research firms have commented on ETSY. Canaccord Genuity Group lowered their target price on shares of Etsy from $105.00 to $76.00 and set a “buy” rating for the company in a research note on Thursday, February 20th. Wells Fargo & Company lifted their price target on shares of Etsy from $44.00 to $47.00 and gave the company an “underweight” rating in a report on Thursday, February 20th. Loop Capital decreased their price target on shares of Etsy from $45.00 to $40.00 and set a “sell” rating on the stock in a report on Thursday, February 20th. Stifel Nicolaus decreased their price target on shares of Etsy from $56.00 to $51.00 and set a “hold” rating on the stock in a report on Thursday, February 20th. Finally, Cantor Fitzgerald decreased their price target on shares of Etsy from $46.00 to $43.00 and set a “neutral” rating on the stock in a report on Thursday, February 20th.

Insider Transactions at Etsy

In related news, insider Nicholas Daniel sold 1,500 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $55.34, for a total value of $83,010.00. Following the sale, the insider now owns 22,198 shares of the company’s stock, valued at $1,228,437.32. The trade was a 6.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Josh Silverman sold 21,666 shares of the company’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $52.05, for a total transaction of $1,127,715.30. Following the sale, the chief executive officer now directly owns 5,004 shares in the company, valued at $260,458.20. This trade represents a 81.24 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,666 shares of company stock worth $1,286,445. Corporate insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Etsy

Institutional investors and hedge funds have recently made changes to their positions in the stock. Lindbrook Capital LLC raised its holdings in shares of Etsy by 55.7% in the 4th quarter. Lindbrook Capital LLC now owns 506 shares of the specialty retailer’s stock worth $27,000 after acquiring an additional 181 shares during the last quarter. True Wealth Design LLC raised its holdings in shares of Etsy by 112.7% in the 4th quarter. True Wealth Design LLC now owns 551 shares of the specialty retailer’s stock worth $29,000 after acquiring an additional 292 shares during the last quarter. Hurley Capital LLC acquired a new stake in shares of Etsy in the 4th quarter worth about $32,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Etsy in the 4th quarter worth about $34,000. Finally, Summit Securities Group LLC acquired a new stake in shares of Etsy in the 4th quarter worth about $37,000. Institutional investors own 99.53% of the company’s stock.

Etsy Trading Up 2.8 %

Shares of Etsy stock opened at $45.65 on Monday. Etsy has a 12-month low of $43.75 and a 12-month high of $71.72. The stock has a market cap of $4.89 billion, a PE ratio of 19.26, a price-to-earnings-growth ratio of 2.57 and a beta of 2.23. The company has a 50-day moving average of $52.45 and a two-hundred day moving average of $53.21.

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

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.