Investment Analysts’ Recent Ratings Changes for Etsy (ETSY)

Several analysts have recently updated their ratings and price targets for Etsy (NASDAQ: ETSY):

  • 1/25/2023 – Etsy had its price target raised by analysts at JMP Securities from $120.00 to $140.00.
  • 1/18/2023 – Etsy had its price target lowered by analysts at Morgan Stanley from $76.00 to $75.00. They now have an “equal weight” rating on the stock.
  • 1/5/2023 – Etsy is now covered by analysts at Wolfe Research. They set a “peer perform” rating on the stock.
  • 1/5/2023 – Etsy was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
  • 1/4/2023 – Etsy was upgraded by analysts at Needham & Company LLC from a “hold” rating to a “buy” rating. They now have a $160.00 price target on the stock.
  • 12/13/2022 – Etsy is now covered by analysts at Citigroup Inc.. They set a “buy” rating and a $161.00 price target on the stock.
  • 12/6/2022 – Etsy had its price target raised by analysts at Bank of America Co. from $110.00 to $145.00.
  • 12/1/2022 – Etsy had its price target raised by analysts at BTIG Research from $119.00 to $137.00.

Etsy Stock Performance

ETSY stock traded down $0.82 during mid-day trading on Wednesday, hitting $135.86. 1,924,534 shares of the company were exchanged, compared to its average volume of 2,899,725. The business has a 50 day simple moving average of $126.65 and a 200-day simple moving average of $111.51. The company has a current ratio of 2.72, a quick ratio of 2.72 and a debt-to-equity ratio of 4.10. The stock has a market capitalization of $17.08 billion, a PE ratio of -25.16, a price-to-earnings-growth ratio of 5.97 and a beta of 1.80. Etsy, Inc. has a 1-year low of $67.01 and a 1-year high of $163.84.

Etsy (NASDAQ:ETSYGet Rating) last issued its quarterly earnings data on Wednesday, November 2nd. The specialty retailer reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.21. The firm had revenue of $594.47 million during the quarter, compared to the consensus estimate of $560.19 million. Etsy had a negative net margin of 25.94% and a positive return on equity of 123.01%. On average, equities analysts forecast that Etsy, Inc. will post -5.26 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Nicholas Daniel sold 1,000 shares of Etsy stock in a transaction that occurred on Thursday, December 8th. The shares were sold at an average price of $134.04, for a total value of $134,040.00. Following the completion of the sale, the insider now directly owns 3,309 shares in the company, valued at $443,538.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CEO Josh Silverman sold 20,850 shares of the stock in a transaction on Wednesday, November 2nd. The stock was sold at an average price of $90.74, for a total value of $1,891,929.00. Following the completion of the transaction, the chief executive officer now directly owns 107,305 shares in the company, valued at approximately $9,736,855.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Nicholas Daniel sold 1,000 shares of the business’s stock in a transaction on Thursday, December 8th. The stock was sold at an average price of $134.04, for a total value of $134,040.00. Following the sale, the insider now owns 3,309 shares in the company, valued at approximately $443,538.36. The disclosure for this sale can be found here. Insiders sold 238,382 shares of company stock worth $27,362,911 over the last three months. Insiders own 3.10% of the company’s stock.

Hedge Funds Weigh In On Etsy

Several large investors have recently bought and sold shares of ETSY. Optimum Investment Advisors boosted its holdings in shares of Etsy by 400.0% during the 3rd quarter. Optimum Investment Advisors now owns 250 shares of the specialty retailer’s stock worth $25,000 after buying an additional 200 shares in the last quarter. Trustcore Financial Services LLC boosted its stake in Etsy by 166.3% during the third quarter. Trustcore Financial Services LLC now owns 269 shares of the specialty retailer’s stock worth $27,000 after acquiring an additional 168 shares in the last quarter. Allworth Financial LP boosted its stake in Etsy by 403.9% during the second quarter. Allworth Financial LP now owns 388 shares of the specialty retailer’s stock worth $28,000 after acquiring an additional 311 shares in the last quarter. General Partner Inc. acquired a new stake in Etsy in the fourth quarter worth $29,000. Finally, GoalVest Advisory LLC bought a new stake in Etsy in the fourth quarter valued at $30,000. 95.46% of the stock is currently owned by institutional investors.

Etsy, Inc operates two-sided online marketplaces that connect buyers and sellers primarily in the United States, the United Kingdom, Germany, Canada, Australia, France, and India. 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.

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