Analysts Set Etsy, Inc. (NASDAQ:ETSY) Price Target at $130.67

Shares of Etsy, Inc. (NASDAQ:ETSY – Get Rating) have been assigned an average rating of “Hold” from the twenty-eight ratings firms that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, ten have assigned a hold recommendation and eleven have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $130.67.

ETSY has been the topic of a number of analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $160.00 price target on shares of Etsy in a research report on Monday, March 13th. Wolfe Research reissued a “peer perform” rating on shares of Etsy in a research report on Thursday, February 23rd. Bank of America raised their target price on Etsy from $145.00 to $153.00 and gave the stock a “neutral” rating in a research report on Thursday, February 23rd. Canaccord Genuity Group lifted their price target on Etsy from $160.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, February 23rd. Finally, StockNews.com started coverage on Etsy in a research report on Thursday. They set a “hold” rating on the stock.

Etsy Price Performance

Shares of Etsy stock opened at $105.34 on Thursday. The company has a debt-to-equity ratio of 4.10, a quick ratio of 2.40 and a current ratio of 2.40. The business has a 50-day moving average of $127.91 and a 200 day moving average of $117.79. Etsy has a 12 month low of $67.01 and a 12 month high of $151.50.

Etsy (NASDAQ:ETSY – Get Rating) last posted its quarterly earnings results on Wednesday, February 22nd. The specialty retailer reported $0.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.05). The company had revenue of $807.20 million during the quarter, compared to analyst estimates of $752.12 million. Etsy had a negative net margin of 27.06% and a positive return on equity of 1,306.41%. Etsy’s revenue for the quarter was up 12.6% on a year-over-year basis. During the same period in the prior year, the business earned $1.11 EPS. Equities analysts anticipate that Etsy will post 2.62 earnings per share for the current fiscal year.

Insider Activity at Etsy

In other Etsy news, insider Nicholas Daniel sold 1,000 shares of the business’s stock in a transaction dated Tuesday, January 17th. The stock was sold at an average price of $135.18, for a total transaction of $135,180.00. Following the completion of the sale, the insider now owns 3,309 shares of the company’s stock, valued at $447,310.62. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CEO Josh Silverman sold 20,850 shares of the company’s stock in a transaction dated Wednesday, January 4th. The stock was sold at an average price of $116.94, for a total value of $2,438,199.00. Following the completion of the sale, the chief executive officer now owns 107,305 shares of the company’s stock, valued at $12,548,246.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Nicholas Daniel sold 1,000 shares of the company’s stock in a transaction dated Tuesday, January 17th. The stock was sold at an average price of $135.18, for a total value of $135,180.00. Following the completion of the sale, the insider now directly owns 3,309 shares of the company’s stock, valued at approximately $447,310.62. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 84,542 shares of company stock worth $10,731,872. 3.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ETSY. Bank of Nova Scotia raised its stake in Etsy by 42,025.5% during the fourth quarter. Bank of Nova Scotia now owns 1,229,642 shares of the specialty retailer’s stock valued at $147,287,000 after buying an additional 1,226,723 shares in the last quarter. Clearbridge Investments LLC raised its stake in Etsy by 69.7% during the first quarter. Clearbridge Investments LLC now owns 2,314,633 shares of the specialty retailer’s stock valued at $287,663,000 after buying an additional 950,415 shares in the last quarter. Artisan Partners Limited Partnership acquired a new stake in Etsy during the second quarter valued at approximately $68,052,000. SRS Investment Management LLC raised its position in shares of Etsy by 156.5% during the 2nd quarter. SRS Investment Management LLC now owns 1,375,260 shares of the specialty retailer’s stock worth $100,683,000 after purchasing an additional 839,063 shares during the period. Finally, Marshall Wace LLP raised its position in shares of Etsy by 1,044.1% during the 4th quarter. Marshall Wace LLP now owns 886,097 shares of the specialty retailer’s stock worth $106,137,000 after purchasing an additional 808,650 shares during the period. Hedge funds and other institutional investors own 95.46% of the company’s stock.

Etsy Company Profile

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Etsy, Inc engages in the operation of an online marketplace. It offers handmade products such as shoes, clothing, bags, and accessories. It operates through the following segments: Etsy, Reverb, Depop, and Elo7. The company was founded in 2005 and is headquartered in New York, NY.