Etsy (NASDAQ:ETSY) Rating Reiterated by Truist Financial

Truist Financial reissued their buy rating on shares of Etsy (NASDAQ:ETSY) in a report released on Tuesday morning, Benzinga reports. They currently have a $76.00 target price on the specialty retailer’s stock.

Several other research analysts have also recently weighed in on ETSY. Loop Capital reduced their price target on shares of Etsy from $50.00 to $45.00 and set a sell rating for the company in a report on Monday, August 12th. Cantor Fitzgerald reiterated a neutral rating and issued a $50.00 price target on shares of Etsy in a report on Monday, September 23rd. Wolfe Research started coverage on shares of Etsy in a report on Tuesday, July 16th. They issued a peer perform rating for the company. Wedbush reiterated a neutral rating and issued a $65.00 price target on shares of Etsy in a report on Monday, July 22nd. Finally, Stifel Nicolaus reduced their price target on shares of Etsy from $65.00 to $64.00 and set a hold rating for the company in a report on Thursday, August 1st. Four analysts have rated the stock with a sell rating, thirteen have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Hold and an average target price of $70.61.

Etsy Stock Performance

Shares of NASDAQ ETSY opened at $57.14 on Tuesday. The stock has a market cap of $6.68 billion, a P/E ratio of 26.09, a P/E/G ratio of 5.39 and a beta of 1.97. The firm has a 50 day moving average price of $55.85 and a 200 day moving average price of $61.02. Etsy has a 52-week low of $50.63 and a 52-week high of $89.58.

Etsy (NASDAQ:ETSY) last issued its quarterly earnings data on Wednesday, July 31st. The specialty retailer reported $0.41 earnings per share (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 analyst estimates of $629.87 million. Etsy had a net margin of 10.36% and a negative return on equity of 51.94%. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.83 EPS. Analysts predict that Etsy will post 2.38 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Etsy news, insider Nicholas Daniel sold 750 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $55.40, for a total transaction of $41,550.00. Following the sale, the insider now directly owns 18,083 shares of the company’s stock, valued at $1,001,798.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last three months, insiders have sold 2,000 shares of company stock valued at $116,395. 2.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Etsy

Several large investors have recently modified their holdings of ETSY. Sunbelt Securities Inc. raised its position in shares of Etsy by 3,900.0% in the first quarter. Sunbelt Securities Inc. now owns 440 shares of the specialty retailer’s stock valued at $30,000 after purchasing an additional 429 shares during the period. EverSource Wealth Advisors LLC raised its position in shares of Etsy by 402.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 447 shares of the specialty retailer’s stock valued at $36,000 after purchasing an additional 358 shares during the period. Larson Financial Group LLC raised its position in shares of Etsy by 1,576.5% in the first quarter. Larson Financial Group LLC now owns 570 shares of the specialty retailer’s stock valued at $39,000 after purchasing an additional 536 shares during the period. 1620 Investment Advisors Inc. bought a new position in shares of Etsy in the second quarter valued at about $42,000. Finally, Headlands Technologies LLC bought a new position in shares of Etsy in the first quarter valued at about $59,000. 99.53% of the stock is owned by institutional investors.

Etsy Company Profile

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.