Etsy (NASDAQ:ETSY) Earns Neutral Rating from Analysts at Piper Sandler

Piper Sandler began coverage on shares of Etsy (NASDAQ:ETSYGet Rating) in a research note released on Wednesday morning. The brokerage issued a neutral rating and a $95.00 price objective on the specialty retailer’s stock.

Other equities analysts also recently issued reports about the company. Raymond James began coverage on Etsy in a research note on Wednesday, June 29th. They issued an outperform rating and a $100.00 price objective for the company. Sanford C. Bernstein began coverage on Etsy in a research note on Monday, May 23rd. They issued an outperform rating and a $105.00 price objective for the company. Needham & Company LLC downgraded Etsy from a buy rating to a hold rating in a research note on Monday, June 27th. UBS Group dropped their price objective on Etsy from $180.00 to $90.00 and set a neutral rating for the company in a research note on Friday, June 3rd. Finally, DA Davidson dropped their price target on Etsy from $185.00 to $146.00 in a research report on Wednesday, July 20th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $129.95.

Etsy Stock Up 0.0 %

ETSY opened at $109.38 on Wednesday. The company has a debt-to-equity ratio of 4.10, a current ratio of 2.93 and a quick ratio of 2.93. The business has a 50 day simple moving average of $85.64 and a 200-day simple moving average of $109.86. The stock has a market capitalization of $13.85 billion, a P/E ratio of 38.51, a P/E/G ratio of 5.06 and a beta of 1.88. Etsy has a 12 month low of $67.01 and a 12 month high of $307.75.

Etsy (NASDAQ:ETSYGet Rating) last released its quarterly earnings data on Wednesday, July 27th. The specialty retailer reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.20. Etsy had a return on equity of 67.88% and a net margin of 17.01%. The firm had revenue of $585.20 million during the quarter, compared to the consensus estimate of $556.85 million. During the same period last year, the business posted $0.68 EPS. Etsy’s quarterly revenue was up 10.6% on a year-over-year basis. On average, equities analysts anticipate that Etsy will post 2.19 earnings per share for the current fiscal year.

Insider Activity

In other news, CMO Ryan M. Scott sold 712 shares of Etsy stock in a transaction on Friday, July 22nd. The stock was sold at an average price of $100.00, for a total value of $71,200.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CMO Ryan M. Scott sold 712 shares of Etsy stock in a transaction on Friday, July 22nd. The stock was sold at an average price of $100.00, for a total value of $71,200.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Josh Silverman sold 20,850 shares of Etsy stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $107.80, for a total value of $2,247,630.00. Following the completion of the transaction, the chief executive officer now owns 102,707 shares in the company, valued at approximately $11,071,814.60. The disclosure for this sale can be found here. Insiders sold a total of 132,130 shares of company stock valued at $11,368,022 over the last quarter. Company insiders own 3.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Covestor Ltd acquired a new position in Etsy in the fourth quarter valued at $29,000. Rinkey Investments acquired a new position in shares of Etsy during the fourth quarter worth about $26,000. Mogy Joel R Investment Counsel Inc. acquired a new position in shares of Etsy during the fourth quarter worth about $35,000. American National Bank lifted its stake in shares of Etsy by 71.3% during the first quarter. American National Bank now owns 209 shares of the specialty retailer’s stock worth $26,000 after purchasing an additional 87 shares in the last quarter. Finally, Byrne Asset Management LLC acquired a new position in shares of Etsy during the fourth quarter worth about $48,000. Institutional investors and hedge funds own 89.93% of the company’s stock.

About Etsy

(Get Rating)

Etsy, Inc operates two-sided online marketplaces that connect buyers and sellers primarily in the United States, the United Kingdom, Germany, Canada, Australia, France, and India. 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.

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