Etsy, Inc. (NASDAQ:ETSY) Receives Average Rating of "Hold" from Analysts

Shares of Etsy, Inc. (NASDAQ:ETSY - Get Free Report) have been assigned an average recommendation of "Hold" from the twenty-seven brokerages that are currently covering the stock, MarketBeat Ratings reports. Four analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $58.38.

Several research firms have issued reports on ETSY. Wells Fargo & Company decreased their price objective on shares of Etsy from $47.00 to $46.00 and set an "underweight" rating for the company in a research note on Wednesday. Citigroup cut their price objective on Etsy from $56.00 to $53.00 and set a "neutral" rating on the stock in a research report on Thursday, February 20th. Jefferies Financial Group raised Etsy from an "underperform" rating to a "hold" rating and upped their target price for the stock from $45.00 to $55.00 in a research report on Monday, January 13th. Needham & Company LLC reissued a "buy" rating and set a $60.00 price target on shares of Etsy in a research report on Thursday, February 20th. Finally, Stifel Nicolaus lowered their price objective on shares of Etsy from $56.00 to $51.00 and set a "hold" rating for the company in a research report on Thursday, February 20th.

Etsy Trading Down 8.2 %

Shares of NASDAQ ETSY traded down $3.99 on Friday, reaching $44.42. 7,964,597 shares of the company traded hands, compared to its average volume of 3,762,340. The company has a 50 day moving average of $50.45 and a 200 day moving average of $52.43. Etsy has a fifty-two week low of $43.43 and a fifty-two week high of $71.72. The stock has a market capitalization of $4.76 billion, a PE ratio of 18.74, a P/E/G ratio of 2.57 and a beta of 2.15.

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Etsy (NASDAQ:ETSY - Get Free Report) last released its quarterly earnings data on Wednesday, February 19th. The specialty retailer reported $1.03 EPS for the quarter, topping analysts' consensus estimates of $0.95 by $0.08. The business had revenue of $852.16 million during the quarter, compared to the consensus estimate of $861.37 million. Etsy had a negative return on equity of 46.62% and a net margin of 10.80%. The business's revenue for the quarter was up 1.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.62 EPS. As a group, research analysts expect that Etsy will post 2.57 earnings per share for the current year.

Insider Transactions at Etsy

In related news, CAO Merilee Buckley sold 1,676 shares of Etsy stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $48.40, for a total transaction of $81,118.40. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Josh Silverman sold 21,666 shares of the business's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $52.05, for a total transaction of $1,127,715.30. Following the completion of the sale, the chief executive officer now owns 5,004 shares in the company, valued at approximately $260,458.20. This trade represents a 81.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 50,952 shares of company stock valued at $2,554,620. Company insiders own 2.60% of the company's stock.

Hedge Funds Weigh In On Etsy

Several hedge funds have recently made changes to their positions in the business. Lindbrook Capital LLC boosted its holdings in Etsy by 55.7% during the fourth quarter. Lindbrook Capital LLC now owns 506 shares of the specialty retailer's stock worth $27,000 after buying an additional 181 shares in the last quarter. True Wealth Design LLC grew its holdings in shares of Etsy by 112.7% in the 4th quarter. True Wealth Design LLC now owns 551 shares of the specialty retailer's stock worth $29,000 after acquiring an additional 292 shares during the last quarter. Hurley Capital LLC acquired a new stake in shares of Etsy during the fourth quarter worth $32,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Etsy during the fourth quarter valued at $34,000. Finally, Summit Securities Group LLC acquired a new position in shares of Etsy in the 4th quarter valued at $37,000. Institutional investors and hedge funds own 99.53% of the company's stock.

About Etsy

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.