Stifel Nicolaus Increases Etsy (NASDAQ:ETSY) Price Target to $230.00

Etsy (NASDAQ:ETSY) had its price target hoisted by equities researchers at Stifel Nicolaus from $205.00 to $230.00 in a note issued to investors on Wednesday, The Fly reports. The firm presently has a “buy” rating on the specialty retailer’s stock. Stifel Nicolaus’ target price would suggest a potential upside of 7.32% from the stock’s previous close.

A number of other analysts also recently weighed in on the company. Truist Securities boosted their target price on Etsy from $215.00 to $217.00 and gave the stock a “buy” rating in a research report on Wednesday, June 16th. Wedbush dropped their target price on Etsy from $204.00 to $195.00 and set an “outperform” rating for the company in a research report on Thursday, August 5th. BTIG Research restated a “buy” rating and issued a $215.00 target price on shares of Etsy in a research report on Tuesday, June 29th. Zacks Investment Research upgraded Etsy from a “sell” rating to a “hold” rating and set a $190.00 target price for the company in a research report on Monday, August 9th. Finally, Morgan Stanley upgraded Etsy from an “underweight” rating to an “equal weight” rating and set a $163.00 target price for the company in a research report on Thursday, August 5th. Three analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, Etsy currently has a consensus rating of “Buy” and an average target price of $223.64.

Shares of NASDAQ ETSY opened at $214.31 on Wednesday. Etsy has a 52 week low of $104.30 and a 52 week high of $251.86. The business has a 50-day simple moving average of $199.58 and a two-hundred day simple moving average of $194.76. The company has a quick ratio of 6.61, a current ratio of 6.61 and a debt-to-equity ratio of 4.36. The company has a market cap of $27.13 billion, a P/E ratio of 61.94, a P/E/G ratio of 3.71 and a beta of 1.62.

Etsy (NASDAQ:ETSY) last issued its quarterly earnings results on Wednesday, August 4th. The specialty retailer reported $0.68 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.04. The firm had revenue of $528.90 million during the quarter, compared to the consensus estimate of $525.70 million. Etsy had a return on equity of 73.54% and a net margin of 22.45%. The company’s revenue for the quarter was up 23.5% on a year-over-year basis. During the same quarter last year, the company posted $0.75 EPS. Equities research analysts anticipate that Etsy will post 2.97 EPS for the current year.

In other news, CFO Rachel C. Glaser sold 13,500 shares of Etsy stock in a transaction that occurred on Thursday, July 1st. The shares were sold at an average price of $200.77, for a total value of $2,710,395.00. Following the completion of the sale, the chief financial officer now directly owns 34,436 shares in the company, valued at $6,913,715.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Goyal Kruti Patel sold 6,800 shares of Etsy stock in a transaction that occurred on Thursday, July 1st. The stock was sold at an average price of $200.63, for a total transaction of $1,364,284.00. Following the completion of the sale, the insider now owns 39,121 shares of the company’s stock, valued at $7,848,846.23. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 37,400 shares of company stock valued at $7,455,878. 3.30% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Amundi Pioneer Asset Management Inc. bought a new position in shares of Etsy in the first quarter worth approximately $1,681,000. Dimensional Fund Advisors LP lifted its stake in shares of Etsy by 8.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 486,491 shares of the specialty retailer’s stock valued at $86,564,000 after buying an additional 36,940 shares in the last quarter. Signaturefd LLC boosted its holdings in Etsy by 101.6% in the 1st quarter. Signaturefd LLC now owns 258 shares of the specialty retailer’s stock worth $52,000 after buying an additional 130 shares during the period. Victory Capital Management Inc. increased its stake in Etsy by 18.3% in the 1st quarter. Victory Capital Management Inc. now owns 88,747 shares of the specialty retailer’s stock worth $17,898,000 after buying an additional 13,703 shares in the last quarter. Finally, Commonwealth Equity Services LLC increased its stake in Etsy by 45.7% in the 1st quarter. Commonwealth Equity Services LLC now owns 24,684 shares of the specialty retailer’s stock worth $4,978,000 after buying an additional 7,743 shares in the last quarter. 87.30% of the stock is currently owned by institutional investors.

About Etsy

Etsy, Inc engages in the operation of online marketplace. It offers handmade products such as shoes, clothing, bags, and accessories. It operates through the following geographical segments: United States, United Kingdom, and Other International. The company was founded by Haim Schoppik, Robert Kalin, Jared Tarbell, and Christopher Maguires in 2005 and is headquartered in New York, NY.

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