Needham & Company LLC Reaffirms “Buy” Rating for Etsy (NASDAQ:ETSY)

Needham & Company LLC reaffirmed their buy rating on shares of Etsy (NASDAQ:ETSY) in a research report released on Wednesday, Marketbeat.com reports. They currently have a $60.00 price target on the specialty retailer’s stock.

Other research analysts also recently issued research reports about the stock. Cantor Fitzgerald restated a “neutral” rating and set a $50.00 price objective on shares of Etsy in a research report on Monday, October 7th. Evercore ISI raised Etsy to a “strong-buy” rating in a report on Thursday, August 1st. Stifel Nicolaus cut their price target on Etsy from $65.00 to $64.00 and set a “hold” rating for the company in a research note on Thursday, August 1st. Wedbush reduced their price target on shares of Etsy from $65.00 to $58.00 and set a “neutral” rating for the company in a research report on Tuesday, October 22nd. Finally, UBS Group dropped their price objective on shares of Etsy from $65.00 to $58.00 and set a “neutral” rating on the stock in a report on Tuesday, October 15th. Four research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $66.83.

Etsy Trading Up 0.0 %

Etsy stock opened at $48.64 on Wednesday. Etsy has a 12 month low of $48.07 and a 12 month high of $89.58. The stock has a fifty day simple moving average of $53.09 and a two-hundred day simple moving average of $58.71. The firm has a market cap of $5.58 billion, a price-to-earnings ratio of 22.62, a PEG ratio of 4.85 and a beta of 1.97.

Etsy (NASDAQ:ETSY) last released 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 business had revenue of $647.80 million during the quarter, compared to the consensus estimate of $629.87 million. Etsy had a negative return on equity of 51.94% and a net margin of 10.36%. Etsy’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.83 earnings per share. On average, equities research analysts forecast that Etsy will post 2.38 EPS for the current fiscal year.

Insider Activity

In related news, CAO Merilee Buckley sold 1,676 shares of the company’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $51.11, for a total transaction of $85,660.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider Nicholas Daniel sold 750 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $55.40, for a total transaction of $41,550.00. Following the sale, the insider now directly owns 18,083 shares of the company’s stock, valued at $1,001,798.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Merilee Buckley sold 1,676 shares of the firm’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $51.11, for a total transaction of $85,660.36. The disclosure for this sale can be found here. Insiders have sold a total of 5,619 shares of company stock worth $300,670 over the last quarter. Insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Etsy

Institutional investors have recently bought and sold shares of the business. Sunbelt Securities Inc. raised its position in shares of Etsy by 3,900.0% during the 1st quarter. Sunbelt Securities Inc. now owns 440 shares of the specialty retailer’s stock valued at $30,000 after buying an additional 429 shares in the last quarter. Blue Trust Inc. raised its position in Etsy by 106.5% during the third quarter. Blue Trust Inc. now owns 448 shares of the specialty retailer’s stock valued at $26,000 after purchasing an additional 231 shares during the period. UMB Bank n.a. lifted its stake in shares of Etsy by 112.3% in the 3rd quarter. UMB Bank n.a. now owns 552 shares of the specialty retailer’s stock valued at $31,000 after purchasing an additional 292 shares during the last quarter. Larson Financial Group LLC boosted its holdings in shares of Etsy by 1,576.5% in the 1st quarter. Larson Financial Group LLC now owns 570 shares of the specialty retailer’s stock worth $39,000 after purchasing an additional 536 shares during the period. Finally, 1620 Investment Advisors Inc. bought a new position in shares of Etsy during the 2nd quarter valued at approximately $42,000. Institutional investors 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.