Etsy (NASDAQ:ETSY) Price Target Cut to $60.00

Etsy (NASDAQ:ETSY) had its price objective decreased by Barclays from $67.00 to $60.00 in a research report report published on Thursday, Benzinga reports. Barclays currently has an equal weight rating on the specialty retailer’s stock.

A number of other analysts have also recently weighed in on the stock. Piper Sandler boosted their price objective on shares of Etsy from $90.00 to $103.00 and gave the stock an overweight rating in a research note on Thursday, February 22nd. Needham & Company LLC cut their target price on shares of Etsy from $95.00 to $75.00 and set a buy rating for the company in a research note on Thursday. BTIG Research lowered their price target on Etsy from $90.00 to $87.00 and set a buy rating on the stock in a research note on Thursday, February 22nd. Wells Fargo & Company decreased their price target on shares of Etsy from $60.00 to $58.00 and set an underweight rating on the stock in a research note on Thursday. Finally, Evercore ISI decreased their target price on shares of Etsy from $95.00 to $90.00 and set an outperform rating on the stock in a research report on Thursday, February 22nd. Four research analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and an average price target of $79.96.

Etsy Trading Up 1.2 %

Shares of Etsy stock opened at $59.97 on Thursday. Etsy has a 1 year low of $56.60 and a 1 year high of $102.81. The stock has a 50-day moving average price of $67.77 and a 200 day moving average price of $71.55. The company has a market cap of $7.01 billion, a P/E ratio of 27.38, a P/E/G ratio of 4.73 and a beta of 2.00.

Etsy (NASDAQ:ETSY) last announced its quarterly earnings results on Wednesday, May 1st. The specialty retailer reported $0.48 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.01). The business had revenue of $646.00 million for the quarter, compared to analyst estimates of $646.30 million. Etsy had a negative return on equity of 67.27% and a net margin of 10.75%. The business’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter last year, the company earned $0.53 EPS. On average, equities analysts forecast that Etsy will post 2.57 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Etsy news, CAO Merilee Buckley sold 1,671 shares of Etsy stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $65.04, for a total value of $108,681.84. Following the sale, the chief accounting officer now directly owns 2,827 shares in the company, valued at approximately $183,868.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CAO Merilee Buckley sold 1,671 shares of Etsy stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $65.04, for a total value of $108,681.84. Following the completion of the transaction, the chief accounting officer now owns 2,827 shares of the company’s stock, valued at approximately $183,868.08. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Nicholas Daniel sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $71.82, for a total value of $107,730.00. Following the transaction, the insider now directly owns 13,138 shares in the company, valued at approximately $943,571.16. The disclosure for this sale can be found here. In the last ninety days, insiders sold 66,968 shares of company stock valued at $4,836,827. Company insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Etsy

Hedge funds have recently added to or reduced their stakes in the business. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in Etsy by 27.8% during the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 45,100 shares of the specialty retailer’s stock worth $2,913,000 after buying an additional 9,800 shares during the period. Xponance Inc. grew its position in shares of Etsy by 8.1% during the 3rd quarter. Xponance Inc. now owns 25,867 shares of the specialty retailer’s stock worth $1,670,000 after purchasing an additional 1,946 shares in the last quarter. Raymond James & Associates increased its holdings in shares of Etsy by 2.0% during the third quarter. Raymond James & Associates now owns 110,563 shares of the specialty retailer’s stock worth $7,140,000 after purchasing an additional 2,204 shares during the period. Rovin Capital UT ADV boosted its stake in shares of Etsy by 28.6% in the third quarter. Rovin Capital UT ADV now owns 5,483 shares of the specialty retailer’s stock valued at $354,000 after buying an additional 1,218 shares during the period. Finally, Concord Wealth Partners boosted its stake in shares of Etsy by 9,333.3% in the 3rd quarter. Concord Wealth Partners now owns 1,981 shares of the specialty retailer’s stock valued at $128,000 after purchasing an additional 1,960 shares in the last quarter. 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.