Brokerages Set Etsy, Inc. (NASDAQ:ETSY) Price Target at $62.54

Shares of Etsy, Inc. (NASDAQ:ETSY) have earned a consensus recommendation of “Hold” from the twenty-six research firms that are covering the firm, Marketbeat reports. Four analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $62.54.

ETSY has been the subject of a number of research reports. Stifel Nicolaus reduced their price target on shares of Etsy from $64.00 to $56.00 and set a “hold” rating for the company in a report on Monday, October 28th. Citigroup decreased their target price on Etsy from $65.00 to $54.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. JMP Securities reiterated a “market perform” rating on shares of Etsy in a research report on Monday, December 16th. Moffett Nathanson boosted their price objective on Etsy from $60.00 to $61.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Etsy from $48.00 to $50.00 and gave the stock a “hold” rating in a research note on Friday, November 1st.

Insider Transactions at Etsy

In other Etsy news, insider Nicholas Daniel sold 750 shares of Etsy stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $52.50, for a total value of $39,375.00. Following the transaction, the insider now owns 24,371 shares of the company’s stock, valued at approximately $1,279,477.50. The trade was a 2.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Etsy

A number of large investors have recently added to or reduced their stakes in the company. American Century Companies Inc. grew its holdings in shares of Etsy by 3.0% during the second quarter. American Century Companies Inc. now owns 12,519 shares of the specialty retailer’s stock worth $738,000 after buying an additional 367 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Etsy by 53.6% in the second quarter. Dimensional Fund Advisors LP now owns 933,062 shares of the specialty retailer’s stock valued at $55,032,000 after purchasing an additional 325,709 shares during the last quarter. Edgestream Partners L.P. bought a new stake in shares of Etsy in the second quarter worth $807,000. Amalgamated Bank boosted its holdings in Etsy by 33.8% during the second quarter. Amalgamated Bank now owns 33,825 shares of the specialty retailer’s stock worth $1,995,000 after purchasing an additional 8,550 shares during the last quarter. Finally, Pacer Advisors Inc. grew its position in Etsy by 52.3% in the second quarter. Pacer Advisors Inc. now owns 2,100,284 shares of the specialty retailer’s stock valued at $123,875,000 after purchasing an additional 721,453 shares in the last quarter. Institutional investors own 99.53% of the company’s stock.

Etsy Price Performance

Etsy stock opened at $53.09 on Friday. Etsy has a fifty-two week low of $47.10 and a fifty-two week high of $80.30. The firm has a fifty day moving average price of $54.77 and a two-hundred day moving average price of $54.74. The firm has a market cap of $5.97 billion, a price-to-earnings ratio of 27.09, a P/E/G ratio of 2.89 and a beta of 1.99.

Etsy (NASDAQ:ETSY) last announced its earnings results on Wednesday, October 30th. The specialty retailer reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.09). Etsy had a net margin of 9.17% and a negative return on equity of 46.79%. The business had revenue of $662.40 million for the quarter, compared to the consensus estimate of $652.47 million. During the same quarter in the previous year, the company earned $0.64 EPS. Etsy’s revenue for the quarter was up 4.1% compared to the same quarter last year. As a group, sell-side analysts expect that Etsy will post 2.26 earnings per share for the current year.

Etsy announced that its board has authorized a stock buyback program on Wednesday, October 30th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the specialty retailer to repurchase up to 17.8% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

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.