Etsy (NASDAQ:ETSY) Price Target Lowered to $65.00 at Raymond James

Etsy (NASDAQ:ETSY) had its price objective decreased by Raymond James from $72.00 to $65.00 in a research report report published on Wednesday, Benzinga reports. Raymond James currently has an outperform rating on the specialty retailer’s stock.

A number of other equities analysts have also recently commented on ETSY. UBS Group reduced their price objective on shares of Etsy from $65.00 to $58.00 and set a “neutral” rating for the company in a research report on Tuesday, October 15th. Evercore ISI raised shares of Etsy to a “strong-buy” rating in a research report on Thursday, August 1st. Piper Sandler reaffirmed a “neutral” rating and set a $56.00 price objective on shares of Etsy in a research report on Friday, August 23rd. Wolfe Research began coverage on Etsy in a report on Tuesday, July 16th. They set a “peer perform” rating for the company. Finally, Stifel Nicolaus dropped their target price on Etsy from $65.00 to $64.00 and set a “hold” rating for the company in a report on Thursday, August 1st. Four research 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. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $67.23.

Etsy Trading Up 0.6 %

NASDAQ:ETSY opened at $49.64 on Wednesday. Etsy has a 1-year low of $48.07 and a 1-year high of $89.58. The firm has a fifty day simple moving average of $53.30 and a 200 day simple moving average of $58.97. The stock has a market capitalization of $5.80 billion, a PE ratio of 22.67, a P/E/G ratio of 4.99 and a beta of 1.97.

Etsy (NASDAQ:ETSY) last released its quarterly earnings data on Wednesday, July 31st. The specialty retailer reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.05). Etsy had a negative return on equity of 51.94% and a net margin of 10.36%. The company had revenue of $647.80 million for the quarter, compared to the consensus estimate of $629.87 million. During the same period last year, the firm earned $0.83 earnings per share. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. On average, equities analysts predict that Etsy will post 2.38 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Etsy news, insider Toni Thompson Nadal sold 1,443 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 $73,751.73. Following the completion of the transaction, the insider now owns 592 shares of the company’s stock, valued at approximately $30,257.12. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other 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 legal filing with the SEC, which is available through the SEC website. Also, insider Toni Thompson Nadal sold 1,443 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 value of $73,751.73. Following the sale, the insider now owns 592 shares in the company, valued at approximately $30,257.12. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,619 shares of company stock valued at $300,670. 2.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Etsy

Several institutional investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. grew its position in shares of Etsy by 106.5% during the 3rd quarter. Blue Trust Inc. now owns 448 shares of the specialty retailer’s stock worth $26,000 after buying an additional 231 shares during the period. Sunbelt Securities Inc. grew its position in shares of Etsy by 3,900.0% during the 1st quarter. Sunbelt Securities Inc. now owns 440 shares of the specialty retailer’s stock worth $30,000 after buying an additional 429 shares during the period. UMB Bank n.a. grew its position in shares of Etsy by 112.3% during the 3rd quarter. UMB Bank n.a. now owns 552 shares of the specialty retailer’s stock worth $31,000 after buying an additional 292 shares during the period. Larson Financial Group LLC grew its position in shares of Etsy by 1,576.5% during the 1st quarter. Larson Financial Group LLC now owns 570 shares of the specialty retailer’s stock worth $39,000 after buying an additional 536 shares during the period. Finally, 1620 Investment Advisors Inc. acquired a new stake in shares of Etsy during the 2nd quarter worth approximately $42,000. 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.