Etsy (NASDAQ:ETSY) Price Target Cut to $76.00

Etsy (NASDAQ:ETSY) had its price objective trimmed by Truist Financial from $77.00 to $76.00 in a research note published on Thursday morning, Benzinga reports. The firm currently has a buy rating on the specialty retailer’s stock.

A number of other analysts also recently issued reports on the stock. Guggenheim dropped their price target on shares of Etsy from $95.00 to $80.00 and set a buy rating on the stock in a report on Thursday, May 2nd. Morgan Stanley dropped their price target on shares of Etsy from $55.00 to $52.00 and set an underweight rating on the stock in a report on Thursday, May 2nd. BTIG Research dropped their price target on shares of Etsy from $87.00 to $78.00 and set a buy rating on the stock in a report on Thursday, May 2nd. Citigroup dropped their price target on shares of Etsy from $72.00 to $62.00 and set a neutral rating on the stock in a report on Thursday, May 2nd. Finally, Canaccord Genuity Group dropped their price target on shares of Etsy from $125.00 to $105.00 and set a buy rating on the stock in a report on Thursday, May 2nd. Four analysts have rated the stock with a sell rating, eleven have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Hold and an average target price of $73.91.

Etsy Price Performance

Shares of Etsy stock opened at $55.41 on Thursday. Etsy has a 1 year low of $55.08 and a 1 year high of $89.58. The company has a 50-day moving average of $61.06 and a 200 day moving average of $65.95. The firm has a market cap of $6.48 billion, a price-to-earnings ratio of 27.10, a PEG ratio of 5.02 and a beta of 2.02.

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). The firm had revenue of $647.80 million for the quarter, compared to analysts’ expectations of $629.87 million. Etsy had a net margin of 10.36% and a negative return on equity of 51.94%. 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 posted $0.83 earnings per share. On average, equities analysts anticipate that Etsy will post 2.43 EPS for the current year.

Insider Buying and Selling at Etsy

In other Etsy news, insider Toni Thompson Nadal sold 1,444 shares of the firm’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $65.68, for a total transaction of $94,841.92. Following the sale, 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 available through the SEC website. 2.60% of the stock is currently owned by insiders.

Institutional Trading of Etsy

A number of hedge funds have recently made changes to their positions in the company. Arizona State Retirement System boosted its holdings in Etsy by 0.5% in the fourth 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 during the last quarter. Envestnet Portfolio Solutions Inc. raised its stake in shares of Etsy by 3.8% during the 4th 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 in the last quarter. Truist Financial Corp raised its stake in shares of Etsy by 2.7% during the 4th quarter. Truist Financial Corp now owns 6,367 shares of the specialty retailer’s stock worth $516,000 after purchasing an additional 168 shares in the last quarter. Yousif Capital Management LLC increased its holdings 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 worth $1,126,000 after acquiring an additional 172 shares during the last quarter. Finally, D.A. Davidson & CO. increased its holdings 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 worth $1,587,000 after acquiring an additional 184 shares during the last quarter. Hedge funds and other institutional investors own 99.53% of the company’s stock.

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.