Jefferies Financial Group Boosts Etsy (NASDAQ:ETSY) Price Target to $265.00

Etsy (NASDAQ:ETSY) had its price objective hoisted by Jefferies Financial Group from $220.00 to $265.00 in a research report sent to investors on Tuesday morning, The Fly reports. The brokerage currently has a buy rating on the specialty retailer’s stock. Jefferies Financial Group also issued estimates for Etsy’s Q4 2021 earnings at $0.74 EPS, FY2021 earnings at $2.87 EPS, Q1 2022 earnings at $0.69 EPS, Q2 2022 earnings at $0.72 EPS, Q3 2022 earnings at $0.63 EPS, Q4 2022 earnings at $1.02 EPS, FY2022 earnings at $3.06 EPS, FY2023 earnings at $4.21 EPS and FY2024 earnings at $5.44 EPS. The analysts noted that the move was a valuation call.

ETSY has been the topic of several other research reports. Morgan Stanley raised shares of Etsy from an underweight rating to an equal weight rating and set a $163.00 price target on the stock in a research report on Thursday, August 5th. Needham & Company LLC reissued a buy rating and set a $250.00 price target on shares of Etsy in a research report on Monday, August 2nd. Stifel Nicolaus boosted their price target on shares of Etsy from $205.00 to $230.00 and gave the company a buy rating in a research report on Wednesday, September 15th. DA Davidson decreased their target price on shares of Etsy from $234.00 to $221.00 and set a buy rating on the stock in a research report on Thursday, August 5th. Finally, Zacks Investment Research raised shares of Etsy from a sell rating to a hold rating and set a $190.00 target price on the stock in a research report on Monday, August 9th. Three research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, Etsy currently has a consensus rating of Buy and an average target price of $224.55.

Etsy stock opened at $223.66 on Tuesday. Etsy has a 52-week low of $109.52 and a 52-week high of $251.86. The firm has a market capitalization of $28.31 billion, a price-to-earnings ratio of 64.64, a PEG ratio of 3.87 and a beta of 1.62. The company has a fifty day simple moving average of $203.94 and a 200-day simple moving average of $195.25. The company has a quick ratio of 6.61, a current ratio of 6.61 and a debt-to-equity ratio of 4.36.

Etsy (NASDAQ:ETSY) last announced its quarterly earnings results on Wednesday, August 4th. The specialty retailer reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.04. The firm had revenue of $528.90 million for the quarter, compared to analysts’ expectations of $525.70 million. Etsy had a net margin of 22.45% and a return on equity of 73.54%. The company’s revenue was up 23.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.75 EPS. On average, research analysts anticipate that Etsy will post 2.94 EPS for the current fiscal year.

In related news, CEO Josh Silverman sold 27,000 shares of the company’s stock in a transaction that occurred on Thursday, September 16th. The shares were sold at an average price of $220.96, for a total transaction of $5,965,920.00. Following the sale, the chief executive officer now directly owns 27,000 shares in the company, valued at $5,965,920. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Goyal Kruti Patel sold 6,800 shares of the company’s stock in a transaction that occurred on Thursday, July 1st. The stock was sold at an average price of $200.63, for a total transaction of $1,364,284.00. Following the sale, the insider now owns 39,121 shares in the company, valued at $7,848,846.23. The disclosure for this sale can be found here. Insiders have sold 67,172 shares of company stock worth $14,033,402 in the last three months. Corporate insiders own 3.80% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the business. Northwestern Mutual Investment Management Company LLC increased its stake in Etsy by 1.0% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 5,771 shares of the specialty retailer’s stock valued at $1,188,000 after purchasing an additional 56 shares during the last quarter. Quilter Plc increased its stake in Etsy by 4.0% in the second quarter. Quilter Plc now owns 1,512 shares of the specialty retailer’s stock valued at $312,000 after purchasing an additional 58 shares during the last quarter. Capital Investment Advisory Services LLC increased its stake in Etsy by 3.8% in the second quarter. Capital Investment Advisory Services LLC now owns 1,648 shares of the specialty retailer’s stock valued at $339,000 after purchasing an additional 60 shares during the last quarter. Burney Co. increased its stake in Etsy by 1.6% in the second quarter. Burney Co. now owns 3,888 shares of the specialty retailer’s stock valued at $800,000 after purchasing an additional 60 shares during the last quarter. Finally, Texas Permanent School Fund increased its stake in Etsy by 0.3% in the second quarter. Texas Permanent School Fund now owns 21,115 shares of the specialty retailer’s stock valued at $4,346,000 after purchasing an additional 67 shares during the last quarter. Institutional investors own 87.30% of the company’s stock.

Etsy Company Profile

Etsy, Inc engages in the operation of online marketplace. It offers handmade products such as shoes, clothing, bags, and accessories. It operates through the following geographical segments: United States, United Kingdom, and Other International. The company was founded by Haim Schoppik, Robert Kalin, Jared Tarbell, and Christopher Maguires in 2005 and is headquartered in New York, NY.

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