Etsy (NASDAQ:ETSY) Rating Reiterated by Cantor Fitzgerald

Etsy (NASDAQ:ETSY)‘s stock had its “neutral” rating restated by equities researchers at Cantor Fitzgerald in a report released on Monday, Benzinga reports. They presently have a $50.00 target price on the specialty retailer’s stock. Cantor Fitzgerald’s price objective points to a potential downside of 9.12% from the stock’s previous close.

Other equities analysts have also issued reports about the stock. Truist Financial cut their target price on shares of Etsy from $77.00 to $76.00 and set a “buy” rating for the company in a report on Thursday, August 1st. Oppenheimer lowered shares of Etsy from an “outperform” rating to a “market perform” rating in a report on Thursday, August 1st. Wells Fargo & Company cut their target price on shares of Etsy from $58.00 to $56.00 and set an “underweight” rating for the company in a report on Tuesday, June 25th. Wedbush reaffirmed a “neutral” rating and set a $65.00 target price on shares of Etsy in a report on Monday, July 22nd. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $56.00 target price on shares of Etsy in a report on Friday, August 23rd. Four equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $70.61.

Etsy Trading Up 0.3 %

Shares of NASDAQ ETSY opened at $55.02 on Monday. Etsy has a 12 month low of $50.63 and a 12 month high of $89.58. The company has a 50 day simple moving average of $56.33 and a two-hundred day simple moving average of $61.21. The stock has a market cap of $6.43 billion, a price-to-earnings ratio of 25.12, a PEG ratio of 5.10 and a beta of 1.97.

Etsy (NASDAQ:ETSY) last announced its quarterly earnings data on Wednesday, July 31st. The specialty retailer reported $0.41 EPS 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 analyst estimates of $629.87 million. During the same quarter in the previous year, the firm posted $0.83 earnings per share. The business’s revenue was up 3.0% on a year-over-year basis. Analysts forecast that Etsy will post 2.38 EPS for the current year.

Insiders Place Their Bets

In other news, insider Nicholas Daniel sold 750 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $59.74, for a total transaction of $44,805.00. Following the transaction, the insider now owns 18,833 shares of the company’s stock, valued at approximately $1,125,083.42. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders have sold a total of 2,000 shares of company stock valued at $116,395 in the last 90 days. 2.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Etsy by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 13,528,736 shares of the specialty retailer’s stock valued at $929,695,000 after acquiring an additional 91,900 shares during the last quarter. Capital International Investors increased its stake in Etsy by 0.6% during the fourth quarter. Capital International Investors now owns 8,175,260 shares of the specialty retailer’s stock worth $662,605,000 after purchasing an additional 45,305 shares during the period. Van ECK Associates Corp increased its stake in Etsy by 14.3% during the second quarter. Van ECK Associates Corp now owns 5,764,064 shares of the specialty retailer’s stock worth $339,964,000 after purchasing an additional 721,454 shares during the period. Renaissance Technologies LLC increased its stake in shares of Etsy by 21.1% during the second quarter. Renaissance Technologies LLC now owns 4,215,370 shares of the specialty retailer’s stock worth $248,623,000 after buying an additional 734,200 shares during the period. Finally, Bares Capital Management Inc. increased its stake in shares of Etsy by 0.9% during the fourth quarter. Bares Capital Management Inc. now owns 4,080,338 shares of the specialty retailer’s stock worth $330,711,000 after buying an additional 36,623 shares during the period. 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.