Etsy’s (ETSY) “Neutral” Rating Reaffirmed at Cantor Fitzgerald

Etsy (NASDAQ:ETSY)‘s stock had its “neutral” rating reissued by Cantor Fitzgerald in a report released on Monday, Benzinga reports. They presently have a $50.00 price target on the specialty retailer’s stock. Cantor Fitzgerald’s price target would suggest a potential downside of 4.40% from the stock’s previous close.

A number of other equities analysts also recently commented on ETSY. Wedbush restated a “neutral” rating and issued a $65.00 price objective on shares of Etsy in a report on Monday, July 22nd. Truist Financial reissued a “buy” rating and issued a $76.00 price objective on shares of Etsy in a research report on Tuesday, September 24th. Loop Capital reduced their target price on Etsy from $50.00 to $45.00 and set a “sell” rating for the company in a research report on Monday, August 12th. Wolfe Research began coverage on shares of Etsy in a research note on Tuesday, July 16th. They set a “peer perform” rating on the stock. Finally, Wells Fargo & Company reduced their target price on shares of Etsy from $58.00 to $56.00 and set an “underweight” rating on the stock in a research note on Tuesday, June 25th. Four investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $70.61.

Etsy Trading Down 5.8 %

Shares of NASDAQ ETSY opened at $52.30 on Monday. Etsy has a twelve month low of $50.63 and a twelve month high of $89.58. The company has a market capitalization of $6.12 billion, a price-to-earnings ratio of 23.88, a PEG ratio of 5.39 and a beta of 1.97. The firm has a 50-day moving average of $55.72 and a two-hundred day moving average of $60.80.

Etsy (NASDAQ:ETSY) last posted its quarterly earnings data on Wednesday, July 31st. The specialty retailer reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.05). The firm had revenue of $647.80 million for the quarter, compared to analysts’ expectations of $629.87 million. Etsy had a net margin of 10.36% and a negative return on equity of 51.94%. Etsy’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.83 earnings per share. As a group, research analysts predict that Etsy will post 2.38 earnings per share for the current year.

Insider Transactions at Etsy

In related news, insider Nicholas Daniel sold 750 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $59.74, for a total value of $44,805.00. Following the completion of the transaction, the insider now directly owns 18,833 shares in the company, valued at approximately $1,125,083.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders sold 2,000 shares of company stock worth $116,395. 2.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Etsy

A number of large investors have recently bought and sold shares of the company. Sanctuary Advisors LLC bought a new stake in Etsy in the 2nd quarter valued at $967,000. Clearline Capital LP grew its holdings in shares of Etsy by 73.0% during the 2nd quarter. Clearline Capital LP now owns 415,943 shares of the specialty retailer’s stock worth $24,532,000 after purchasing an additional 175,522 shares in the last quarter. Scientech Research LLC acquired a new stake in Etsy in the second quarter valued at about $241,000. The Manufacturers Life Insurance Company boosted its stake in Etsy by 1.8% in the second quarter. The Manufacturers Life Insurance Company now owns 96,488 shares of the specialty retailer’s stock valued at $5,691,000 after buying an additional 1,720 shares in the last quarter. Finally, MBB Public Markets I LLC acquired a new stake in Etsy in the second quarter valued at about $505,000. Institutional investors and hedge funds own 99.53% of the company’s stock.

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.