Etsy (NASDAQ:ETSY) Earns “Buy” Rating from Needham & Company LLC

Etsy (NASDAQ:ETSY)‘s stock had its “buy” rating reiterated by research analysts at Needham & Company LLC in a report released on Wednesday, Benzinga reports. They presently have a $60.00 price target on the specialty retailer’s stock. Needham & Company LLC’s target price would suggest a potential upside of 21.63% from the company’s previous close.

Several other research firms have also weighed in on ETSY. The Goldman Sachs Group lowered shares of Etsy from a “neutral” rating to a “sell” rating and lowered their target price for the company from $70.00 to $45.00 in a research note on Tuesday, October 15th. Truist Financial reissued a “buy” rating and set a $76.00 price target on shares of Etsy in a report on Tuesday, September 24th. Wedbush reduced their price target on shares of Etsy from $65.00 to $58.00 and set a “neutral” rating for the company in a report on Tuesday. Wolfe Research started coverage on shares of Etsy in a report on Tuesday, July 16th. They set a “peer perform” rating for the company. Finally, Loop Capital reduced their price target on shares of Etsy from $50.00 to $45.00 and set a “sell” rating for the company in a report on Monday, August 12th. Four analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $68.36.

Etsy Trading Down 4.7 %

Shares of NASDAQ:ETSY opened at $49.33 on Wednesday. The company has a fifty day simple moving average of $53.34 and a 200 day simple moving average of $59.04. The firm has a market cap of $5.77 billion, a PE ratio of 22.53, a price-to-earnings-growth ratio of 4.99 and a beta of 1.97. Etsy has a 12-month low of $48.07 and a 12-month high of $89.58.

Etsy (NASDAQ:ETSY) last released its earnings results on Wednesday, July 31st. The specialty retailer reported $0.41 earnings per share 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 for the quarter, compared to the consensus estimate of $629.87 million. During the same quarter in the previous year, the firm earned $0.83 EPS. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. As a group, equities research analysts forecast that Etsy will post 2.38 EPS for the current fiscal year.

Insider Buying and Selling at Etsy

In other Etsy news, CAO Merilee Buckley sold 1,676 shares of the business’s stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $51.11, for a total transaction of $85,660.36. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Etsy news, CAO Merilee Buckley sold 1,676 shares of the business’s stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $51.11, for a total transaction of $85,660.36. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Nicholas Daniel sold 750 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $55.40, for a total value of $41,550.00. Following the sale, the insider now owns 18,083 shares in the company, valued at approximately $1,001,798.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 5,619 shares of company stock valued at $300,670. 2.60% of the stock is owned by insiders.

Institutional Trading of Etsy

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Blue Trust Inc. lifted its stake in Etsy by 106.5% in the 3rd quarter. Blue Trust Inc. now owns 448 shares of the specialty retailer’s stock worth $26,000 after acquiring an additional 231 shares in the last quarter. Sunbelt Securities Inc. increased its holdings in shares of Etsy by 3,900.0% in the 1st quarter. Sunbelt Securities Inc. now owns 440 shares of the specialty retailer’s stock valued at $30,000 after purchasing an additional 429 shares during the period. UMB Bank n.a. lifted its position in shares of Etsy by 112.3% in the third quarter. UMB Bank n.a. now owns 552 shares of the specialty retailer’s stock worth $31,000 after purchasing an additional 292 shares in the last quarter. Larson Financial Group LLC boosted its holdings in shares of Etsy by 1,576.5% during the first 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. Finally, 1620 Investment Advisors Inc. purchased a new position in Etsy during the second quarter valued at approximately $42,000. Institutional investors and hedge funds 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.