Guggenheim Lowers Etsy (NASDAQ:ETSY) Price Target to $80.00

Etsy (NASDAQ:ETSY) had its price objective reduced by Guggenheim from $95.00 to $80.00 in a research note released on Thursday morning, Benzinga reports. They currently have a buy rating on the specialty retailer’s stock.

A number of other research firms also recently commented on ETSY. Wells Fargo & Company dropped their price objective on shares of Etsy from $60.00 to $58.00 and set an underweight rating for the company in a research note on Thursday. Morgan Stanley dropped their price target on shares of Etsy from $55.00 to $52.00 and set an underweight rating for the company in a research report on Thursday. Loop Capital lowered shares of Etsy from a hold rating to a sell rating and decreased their price target for the company from $70.00 to $50.00 in a report on Thursday. B. Riley dropped their price objective on Etsy from $91.00 to $83.00 and set a buy rating for the company in a report on Thursday. Finally, Oppenheimer cut their target price on Etsy from $95.00 to $80.00 and set an outperform rating on the stock in a research report on Monday, April 29th. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Etsy presently has an average rating of Hold and an average price target of $79.96.

Etsy Stock Performance

Shares of NASDAQ ETSY opened at $59.97 on Thursday. The firm has a market cap of $7.02 billion, a P/E ratio of 27.38, a price-to-earnings-growth ratio of 4.22 and a beta of 2.00. Etsy has a 1 year low of $56.60 and a 1 year high of $102.81. The firm’s 50 day moving average price is $67.77 and its 200 day moving average price is $71.55.

Etsy (NASDAQ:ETSY) last posted its quarterly earnings data on Wednesday, May 1st. The specialty retailer reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.01). The business had revenue of $646.00 million for the quarter, compared to analyst estimates of $646.30 million. Etsy had a negative return on equity of 67.27% and a net margin of 10.75%. Etsy’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter last year, the business earned $0.53 EPS. As a group, equities analysts predict that Etsy will post 2.57 EPS for the current year.

Insider Transactions at Etsy

In related news, insider Nicholas Daniel sold 1,500 shares of the company’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $71.82, for a total value of $107,730.00. Following the sale, the insider now directly owns 13,138 shares of the company’s stock, valued at $943,571.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Nicholas Daniel sold 1,500 shares of the business’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $71.82, for a total value of $107,730.00. Following the completion of the sale, the insider now owns 13,138 shares of the company’s stock, valued at approximately $943,571.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Josh Silverman sold 63,047 shares of the company’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $72.50, for a total transaction of $4,570,907.50. Following the completion of the sale, the chief executive officer now owns 23,140 shares in the company, valued at approximately $1,677,650. The disclosure for this sale can be found here. Over the last quarter, insiders sold 66,968 shares of company stock valued at $4,836,827. 2.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Etsy

A number of institutional investors have recently made changes to their positions in ETSY. Arizona State Retirement System raised its position in shares of Etsy by 0.5% during the 4th quarter. Arizona State Retirement System now owns 33,810 shares of the specialty retailer’s stock valued at $2,740,000 after acquiring an additional 157 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its holdings in shares of Etsy by 3.8% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 4,368 shares of the specialty retailer’s stock worth $354,000 after purchasing an additional 161 shares during the period. Truist Financial Corp lifted its position in shares of Etsy by 2.7% in the 4th quarter. Truist Financial Corp now owns 6,367 shares of the specialty retailer’s stock worth $516,000 after buying an additional 168 shares during the last quarter. Yousif Capital Management LLC grew its position in shares of Etsy by 1.1% during the 1st quarter. Yousif Capital Management LLC now owns 16,384 shares of the specialty retailer’s stock valued at $1,126,000 after buying an additional 172 shares during the last quarter. Finally, D.A. Davidson & CO. grew its position in shares of Etsy by 0.9% during the 4th quarter. D.A. Davidson & CO. now owns 19,580 shares of the specialty retailer’s stock valued at $1,587,000 after buying an additional 184 shares during the last quarter. 99.53% of the stock is currently owned by institutional investors.

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.