Etsy (NASDAQ:ETSY) PT Lowered to $64.00 at Stifel Nicolaus

Etsy (NASDAQ:ETSY) had its price objective reduced by stock analysts at Stifel Nicolaus from $65.00 to $64.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has a “hold” rating on the specialty retailer’s stock. Stifel Nicolaus’ price target points to a potential upside of 5.73% from the company’s current price.

Several other research firms also recently weighed in on ETSY. Truist Financial decreased their price objective on Etsy from $77.00 to $76.00 and set a “buy” rating for the company in a report on Thursday. Canaccord Genuity Group decreased their price objective on Etsy from $125.00 to $105.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. Citigroup decreased their price objective on Etsy from $72.00 to $62.00 and set a “neutral” rating for the company in a report on Thursday, May 2nd. Wells Fargo & Company cut their price target on Etsy from $58.00 to $56.00 and set an “underweight” rating for the company in a research note on Tuesday, June 25th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on Etsy from $80.00 to $65.00 and set a “hold” rating for the company in a research note on Wednesday, April 10th. Four investment analysts have rated the stock with a sell rating, twelve have given a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $78.67.

Etsy Stock Down 7.1 %

ETSY traded down $4.61 on Thursday, reaching $60.53. The company’s stock had a trading volume of 1,366,068 shares, compared to its average volume of 3,566,103. The stock has a 50 day moving average of $61.10 and a two-hundred day moving average of $66.11. The company has a market capitalization of $7.08 billion, a price-to-earnings ratio of 27.64, a P/E/G ratio of 5.27 and a beta of 2.02. Etsy has a fifty-two week low of $55.08 and a fifty-two week high of $97.44.

Etsy (NASDAQ:ETSY) last announced its quarterly earnings results on Wednesday, July 31st. The specialty retailer reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.05). The business had revenue of $647.80 million during the quarter, compared to analyst estimates of $629.87 million. Etsy had a net margin of 10.75% and a negative return on equity of 67.27%. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period last year, the company earned $0.83 earnings per share. As a group, analysts anticipate that Etsy will post 2.48 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Toni Thompson Nadal sold 1,444 shares of Etsy stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $65.68, for a total value of $94,841.92. Following the transaction, the insider now directly owns 592 shares of the company’s stock, valued at approximately $38,882.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Etsy

Several hedge funds have recently modified their holdings of the stock. Van ECK Associates Corp raised its holdings in shares of Etsy by 14.3% during the 2nd quarter. Van ECK Associates Corp now owns 5,764,064 shares of the specialty retailer’s stock valued at $339,964,000 after buying an additional 721,454 shares during the period. Banque Cantonale Vaudoise raised its holdings in shares of Etsy by 2,736.8% during the 2nd quarter. Banque Cantonale Vaudoise now owns 4,851 shares of the specialty retailer’s stock valued at $286,000 after buying an additional 4,680 shares during the period. Hantz Financial Services Inc. purchased a new stake in shares of Etsy during the 2nd quarter valued at about $162,000. Panagora Asset Management Inc. raised its holdings in shares of Etsy by 1.8% during the 2nd quarter. Panagora Asset Management Inc. now owns 429,001 shares of the specialty retailer’s stock valued at $25,302,000 after buying an additional 7,592 shares during the period. Finally, Ameritas Advisory Services LLC increased its holdings in Etsy by 13.0% during the 2nd quarter. Ameritas Advisory Services LLC now owns 13,568 shares of the specialty retailer’s stock worth $800,000 after purchasing an additional 1,560 shares during the last quarter. 99.53% of the stock is currently owned by hedge funds and other institutional investors.

About Etsy

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.