Etsy, Inc. (NASDAQ:ETSY) Receives $222.50 Average Target Price from Brokerages

Etsy, Inc. (NASDAQ:ETSY) has received an average recommendation of “Buy” from the twenty-two ratings firms that are presently covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a hold rating and sixteen have issued a buy rating on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $223.64.

A number of equities research analysts have recently weighed in on ETSY shares. Wedbush lowered their target price on Etsy from $204.00 to $195.00 and set an “outperform” rating for the company in a research note on Thursday, August 5th. Atlantic Securities started coverage on Etsy in a research report on Monday, June 7th. They set an “overweight” rating and a $200.00 price target for the company. Loop Capital lowered their price target on Etsy from $240.00 to $220.00 and set a “buy” rating for the company in a research report on Thursday, August 5th. Truist Securities upped their price target on Etsy from $215.00 to $217.00 and gave the company a “buy” rating in a research report on Wednesday, June 16th. Finally, Morgan Stanley raised Etsy from an “underweight” rating to an “equal weight” rating and set a $163.00 price target for the company in a research report on Thursday, August 5th.

Shares of NASDAQ ETSY traded up $2.83 during midday trading on Friday, reaching $226.98. The company had a trading volume of 3,405,361 shares, compared to its average volume of 1,844,895. Etsy has a one year low of $109.11 and a one year high of $251.86. 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 firm’s fifty day moving average price is $201.28 and its 200-day moving average price is $194.60. The stock has a market cap of $28.73 billion, a PE ratio of 65.60, a price-to-earnings-growth ratio of 3.87 and a beta of 1.62.

Etsy (NASDAQ:ETSY) last released its earnings results on Wednesday, August 4th. The specialty retailer reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. Etsy had a return on equity of 73.54% and a net margin of 22.45%. The company had revenue of $528.90 million during the quarter, compared to analyst estimates of $525.70 million. During the same quarter in the previous year, the company posted $0.75 EPS. Etsy’s revenue for the quarter was up 23.5% on a year-over-year basis. As a group, equities research analysts expect that Etsy will post 2.94 EPS for the current year.

In related news, CMO Ryan M. Scott sold 990 shares of the company’s stock in a transaction that occurred on Tuesday, July 6th. The stock was sold at an average price of $196.40, for a total value of $194,436.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Merilee Buckley sold 577 shares of the company’s stock in a transaction that occurred on Tuesday, July 6th. The stock was sold at an average price of $196.44, for a total value of $113,345.88. Following the completion of the sale, the chief accounting officer now owns 1,166 shares in the company, valued at approximately $229,049.04. The disclosure for this sale can be found here. Insiders sold a total of 67,172 shares of company stock worth $14,033,402 in the last 90 days. 3.80% of the stock is currently owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in ETSY. Amundi Pioneer Asset Management Inc. bought a new position in Etsy in the 1st quarter valued at approximately $1,681,000. Dimensional Fund Advisors LP lifted its holdings 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 during the period. Signaturefd LLC lifted its holdings in shares of Etsy by 101.6% during the 1st quarter. Signaturefd LLC now owns 258 shares of the specialty retailer’s stock valued at $52,000 after buying an additional 130 shares during the period. Raymond James Trust N.A. bought a new position in shares of Etsy during the 1st quarter valued at $313,000. Finally, Daiwa Securities Group Inc. lifted its holdings in shares of Etsy by 52.5% during the 1st quarter. Daiwa Securities Group Inc. now owns 9,041 shares of the specialty retailer’s stock valued at $1,823,000 after buying an additional 3,113 shares during the period. 87.30% of the stock is currently owned by institutional investors and hedge funds.

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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Analyst Recommendations for Etsy (NASDAQ:ETSY)

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