Etsy (NASDAQ:ETSY) PT Lowered to $80.00 at Guggenheim

Etsy (NASDAQ:ETSY) had its price target dropped by research analysts at Guggenheim from $95.00 to $80.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has a “buy” rating on the specialty retailer’s stock. Guggenheim’s target price suggests a potential upside of 37.03% from the company’s current price.

Several other equities analysts have also recently weighed in on ETSY. Wedbush cut their price target on Etsy from $70.00 to $65.00 and set a “neutral” rating for the company in a report on Thursday. Deutsche Bank Aktiengesellschaft cut their price target on Etsy from $80.00 to $65.00 and set a “hold” rating for the company in a report on Wednesday, April 10th. Loop Capital cut Etsy from a “hold” rating to a “sell” rating and cut their price target for the company from $70.00 to $50.00 in a report on Thursday. Wells Fargo & Company cut their price target on Etsy from $60.00 to $58.00 and set an “underweight” rating for the company in a report on Thursday. Finally, Truist Financial cut their price target on Etsy from $85.00 to $75.00 and set a “buy” rating for the company in a report on Thursday. Four research analysts have rated the stock with a sell rating, ten have given a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, Etsy has an average rating of “Hold” and a consensus price target of $79.13.

Etsy Stock Performance

Shares of NASDAQ ETSY traded down $11.36 during trading on Thursday, hitting $58.38. The company had a trading volume of 16,604,371 shares, compared to its average volume of 3,822,644. Etsy has a 12 month low of $56.60 and a 12 month high of $102.81. The stock has a 50 day simple moving average of $68.28 and a 200 day simple moving average of $71.65. The firm has a market capitalization of $6.83 billion, a P/E ratio of 26.18, a price-to-earnings-growth ratio of 4.81 and a beta of 2.00.

Etsy (NASDAQ:ETSY) last released its earnings results on Wednesday, May 1st. The specialty retailer reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.01). Etsy had a negative return on equity of 70.75% and a net margin of 11.19%. The business had revenue of $646.00 million for the quarter, compared to analysts’ expectations of $646.30 million. During the same quarter in the prior year, the business posted $0.53 EPS. The business’s revenue for the quarter was up .8% compared to the same quarter last year. As a group, analysts predict that Etsy will post 2.56 EPS for the current year.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Etsy

Hedge funds have recently made changes to their positions in the stock. CVA Family Office LLC purchased a new stake in shares of Etsy during the 4th quarter worth $27,000. Operose Advisors LLC acquired a new position in Etsy during the 3rd quarter valued at about $28,000. Sunbelt Securities Inc. increased its position in Etsy by 3,900.0% during the 1st quarter. Sunbelt Securities Inc. now owns 440 shares of the specialty retailer’s stock valued at $30,000 after buying an additional 429 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in 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 buying an additional 358 shares in the last quarter. Finally, Tompkins Financial Corp acquired a new position in Etsy during the 4th quarter valued at about $41,000. 99.53% of the stock is currently owned by hedge funds and other 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.