Etsy (NASDAQ:ETSY) Price Target Lowered to $43.00 at Cantor Fitzgerald

Etsy (NASDAQ:ETSY) had its price objective cut by stock analysts at Cantor Fitzgerald from $46.00 to $43.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the specialty retailer’s stock. Cantor Fitzgerald’s price target indicates a potential downside of 16.11% from the company’s previous close. Cantor Fitzgerald also issued estimates for Etsy’s FY2025 earnings at $2.59 EPS.

Several other research firms have also commented on ETSY. Morgan Stanley lowered their price objective on shares of Etsy from $47.00 to $45.00 and set an “underweight” rating for the company in a research note on Monday, January 13th. Needham & Company LLC reissued a “buy” rating and issued a $60.00 price objective on shares of Etsy in a research note on Thursday. Stifel Nicolaus lowered their price objective on shares of Etsy from $64.00 to $56.00 and set a “hold” rating for the company in a research note on Monday, October 28th. Truist Financial lowered their price objective on shares of Etsy from $70.00 to $67.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Finally, UBS Group lowered their price objective on shares of Etsy from $55.00 to $54.00 and set a “neutral” rating for the company in a research note on Thursday. Four equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $60.08.

Etsy Price Performance

Shares of ETSY opened at $51.26 on Thursday. Etsy has a 1-year low of $47.10 and a 1-year high of $74.82. The stock has a market cap of $5.77 billion, a PE ratio of 21.63, a P/E/G ratio of 2.55 and a beta of 2.00. The firm has a 50-day simple moving average of $54.43 and a two-hundred day simple moving average of $53.78.

Etsy (NASDAQ:ETSY) last announced its quarterly earnings results on Wednesday, February 19th. The specialty retailer reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.08. Etsy had a net margin of 10.80% and a negative return on equity of 46.62%. The business had revenue of $852.16 million during the quarter, compared to analysts’ expectations of $861.37 million. During the same period last year, the business earned $0.62 earnings per share. The business’s revenue for the quarter was up 1.2% on a year-over-year basis. As a group, sell-side analysts expect that Etsy will post 2.6 earnings per share for the current fiscal year.

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

Insiders Place Their Bets

In other news, insider Nicholas Daniel sold 1,500 shares of Etsy stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $55.34, for a total value of $83,010.00. Following the transaction, the insider now directly owns 22,198 shares of the company’s stock, valued at $1,228,437.32. The trade was a 6.33 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Etsy

A number of institutional investors have recently modified their holdings of ETSY. Blue Trust Inc. increased its holdings in shares of Etsy by 106.5% in the 3rd quarter. Blue Trust Inc. now owns 448 shares of the specialty retailer’s stock valued at $26,000 after acquiring an additional 231 shares during the period. Lecap Asset Management Ltd. increased its holdings in shares of Etsy by 75.2% in the 3rd quarter. Lecap Asset Management Ltd. now owns 17,859 shares of the specialty retailer’s stock valued at $992,000 after acquiring an additional 7,664 shares during the period. International Assets Investment Management LLC acquired a new position in shares of Etsy in the 3rd quarter valued at $1,233,000. DORCHESTER WEALTH MANAGEMENT Co acquired a new position in shares of Etsy in the 3rd quarter valued at $214,000. Finally, Louisiana State Employees Retirement System increased its holdings in shares of Etsy by 740.9% in the 3rd quarter. Louisiana State Employees Retirement System now owns 55,500 shares of the specialty retailer’s stock valued at $3,082,000 after acquiring an additional 48,900 shares during the period. 99.53% of the stock is owned by institutional investors and hedge funds.

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.