Analysts Set Etsy Inc (NYSE:ETSY) Price Target at $70.09

Etsy Inc (NYSE:ETSYGet Free Report) has received an average rating of “Hold” from the twenty-nine brokerages that are covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, nineteen have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $70.0870.

Several brokerages recently commented on ETSY. Zacks Research lowered shares of Etsy from a “strong-buy” rating to a “hold” rating in a report on Monday, April 20th. Sanford C. Bernstein lifted their target price on shares of Etsy from $60.00 to $65.00 and gave the company a “market perform” rating in a research report on Thursday, April 30th. Barclays boosted their target price on shares of Etsy from $72.00 to $82.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Guggenheim boosted their price objective on Etsy from $75.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Finally, UBS Group lifted their price target on Etsy from $72.00 to $74.00 and gave the stock a “neutral” rating in a research note on Thursday, April 30th.

View Our Latest Report on Etsy

Etsy Trading Down 0.9%

ETSY traded down $0.53 on Friday, reaching $57.88. The stock had a trading volume of 2,057,368 shares, compared to its average volume of 3,503,008. The company has a 50-day moving average price of $56.70. The company has a market cap of $5.49 billion, a P/E ratio of 24.12, a P/E/G ratio of 5.21 and a beta of 1.89. Etsy has a 12-month low of $44.00 and a 12-month high of $76.51.

Etsy (NYSE:ETSYGet Free Report) last posted its earnings results on Thursday, February 19th. The company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.04. The firm had revenue of $881.64 million for the quarter. Etsy had a negative return on equity of 28.60% and a net margin of 9.94%. Analysts predict that Etsy will post 3.74 EPS for the current year.

Insider Buying and Selling at Etsy

In other news, insider Richard Edward Colburn III sold 4,776 shares of the company’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $65.09, for a total value of $310,869.84. Following the completion of the sale, the insider directly owned 6,503 shares in the company, valued at $423,280.27. This represents a 42.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Charles Baker sold 2,030 shares of the stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $63.50, for a total value of $128,905.00. Following the completion of the sale, the chief financial officer directly owned 6,913 shares of the company’s stock, valued at approximately $438,975.50. This represents a 22.70% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 278,569 shares of company stock valued at $17,724,416. Corporate insiders own 2.50% of the company’s stock.

Institutional Trading of Etsy

Several large investors have recently added to or reduced their stakes in ETSY. Public Sector Pension Investment Board increased its holdings in shares of Etsy by 21.2% during the 3rd quarter. Public Sector Pension Investment Board now owns 430,824 shares of the company’s stock worth $28,602,000 after buying an additional 75,295 shares during the last quarter. Allianz Asset Management GmbH lifted its holdings in Etsy by 1,648.1% in the third quarter. Allianz Asset Management GmbH now owns 706,679 shares of the company’s stock valued at $46,916,000 after acquiring an additional 666,253 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in Etsy by 33.7% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 187,028 shares of the company’s stock worth $10,369,000 after acquiring an additional 47,105 shares during the period. Lone Pine Capital LLC purchased a new position in Etsy in the third quarter worth approximately $257,614,000. Finally, Great Lakes Advisors LLC acquired a new position in shares of Etsy in the 3rd quarter valued at $1,889,000. 99.53% of the stock is currently owned by hedge funds and other institutional investors.

Etsy Company Profile

(Get Free Report)

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. In addition, it offers various seller services, including Etsy Payments, a payment processing service; Etsy Ads, an advertising platform; and Shipping Labels, which allows sellers in the United States, Canada, the United Kingdom, Australia, and India to purchase discounted shipping labels.

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Analyst Recommendations for Etsy (NYSE:ETSY)

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