Needham & Company LLC Trims Etsy (NASDAQ:ETSY) Target Price to $75.00

Etsy (NASDAQ:ETSY) had its price target trimmed by Needham & Company LLC from $95.00 to $75.00 in a report released on Thursday morning, Benzinga reports. The firm currently has a buy rating on the specialty retailer’s stock.

Other equities analysts have also recently issued reports about the stock. Oppenheimer reduced their price objective on shares of Etsy from $95.00 to $80.00 and set an outperform rating on the stock in a research note on Monday, April 29th. Evercore ISI reduced their price objective on shares of Etsy from $95.00 to $90.00 and set an outperform rating on the stock in a research note on Thursday, February 22nd. Truist Financial decreased their price objective on shares of Etsy from $87.00 to $85.00 and set a buy rating for the company in a report on Thursday, February 22nd. Piper Sandler lifted their price target on shares of Etsy from $90.00 to $103.00 and gave the stock an overweight rating in a research report on Thursday, February 22nd. Finally, Barclays upped their price objective on shares of Etsy from $63.00 to $67.00 and gave the company an equal weight rating in a research report on Thursday, February 22nd. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of Hold and an average target price of $79.96.

Etsy Price Performance

Shares of ETSY traded up $0.73 on Thursday, hitting $59.97. The company’s stock had a trading volume of 5,617,654 shares, compared to its average volume of 3,661,918. The company has a 50 day moving average price of $67.77 and a 200 day moving average price of $71.52. The company has a market capitalization of $7.02 billion, a PE ratio of 27.38, a PEG ratio of 4.16 and a beta of 2.00. Etsy has a fifty-two week low of $56.60 and a fifty-two week high of $102.81.

Etsy (NASDAQ:ETSY) last posted its quarterly earnings data on Wednesday, May 1st. The specialty retailer reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.01). The company had revenue of $646.00 million during the quarter, compared to analyst estimates of $646.30 million. Etsy had a net margin of 10.75% and a negative return on equity of 67.27%. The company’s revenue was up .8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.53 EPS. On average, equities analysts forecast that Etsy will post 2.55 EPS for the current year.

Insiders Place Their Bets

In other Etsy news, CAO Merilee Buckley sold 1,671 shares of the stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $65.04, for a total transaction of $108,681.84. Following the sale, the chief accounting officer now directly owns 2,827 shares in the company, valued at $183,868.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Nicholas Daniel sold 1,500 shares of the firm’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $71.82, for a total transaction of $107,730.00. Following the sale, the insider now owns 13,138 shares of the company’s stock, valued at approximately $943,571.16. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Merilee Buckley sold 1,671 shares of Etsy stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $65.04, for a total transaction of $108,681.84. Following the sale, the chief accounting officer now owns 2,827 shares in the company, valued at $183,868.08. The disclosure for this sale can be found here. Insiders have sold a total of 66,968 shares of company stock worth $4,836,827 in the last quarter. Corporate insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. CVA Family Office LLC acquired a new position in shares of Etsy in the 4th quarter valued at about $27,000. Operose Advisors LLC acquired a new stake in shares of Etsy during the 3rd quarter worth approximately $28,000. Sunbelt Securities Inc. increased its stake in shares of Etsy by 3,900.0% in the 1st quarter. Sunbelt Securities Inc. now owns 440 shares of the specialty retailer’s stock valued at $30,000 after acquiring an additional 429 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Etsy by 402.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 447 shares of the specialty retailer’s stock valued at $36,000 after acquiring an additional 358 shares during the period. Finally, Larson Financial Group LLC boosted its stake in Etsy by 1,576.5% during the first quarter. Larson Financial Group LLC now owns 570 shares of the specialty retailer’s stock worth $39,000 after acquiring an additional 536 shares in the last quarter. 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.