Etsy's (ETSY) Neutral Rating Reaffirmed at Piper Sandler

Piper Sandler reissued their neutral rating on shares of Etsy (NASDAQ:ETSY - Free Report) in a research note released on Friday, Marketbeat Ratings reports. The brokerage currently has a $56.00 price objective on the specialty retailer's stock.

A number of other equities analysts have also recently issued reports on the stock. Barclays reduced their price objective on shares of Etsy from $67.00 to $60.00 and set an equal weight rating on the stock in a research note on Thursday, May 2nd. Wells Fargo & Company cut their target price on shares of Etsy from $58.00 to $56.00 and set an underweight rating on the stock in a report on Tuesday, June 25th. The Goldman Sachs Group dropped their price objective on shares of Etsy from $80.00 to $70.00 and set a neutral rating on the stock in a report on Thursday, May 2nd. Loop Capital dropped their price objective on shares of Etsy from $50.00 to $45.00 and set a sell rating on the stock in a report on Monday, August 12th. Finally, B. Riley dropped their price objective on shares of Etsy from $91.00 to $83.00 and set a buy rating on the stock in a report on Thursday, May 2nd. Four research analysts have rated the stock with a sell rating, twelve have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus target price of $71.55.

Etsy Trading Up 3.0 %

Shares of ETSY traded up $1.61 during mid-day trading on Friday, hitting $55.40. 2,455,288 shares of the company traded hands, compared to its average volume of 3,585,579. Etsy has a one year low of $51.45 and a one year high of $89.58. The business has a 50-day moving average of $58.40 and a 200 day moving average of $64.43. The stock has a market capitalization of $6.48 billion, a price-to-earnings ratio of 24.56, a PEG ratio of 5.02 and a beta of 2.02.

Etsy (NASDAQ:ETSY - Get Free Report) last announced 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). Etsy had a net margin of 10.36% and a negative return on equity of 51.94%. The business had revenue of $647.80 million during the quarter, compared to the consensus estimate of $629.87 million. During the same period in the previous year, the business posted $0.83 earnings per share. Etsy's revenue was up 3.0% compared to the same quarter last year. As a group, analysts anticipate that Etsy will post 2.43 earnings per share for the current year.

Insider Buying and Selling

In other Etsy news, insider Nicholas Daniel sold 750 shares of the business's stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $59.74, for a total transaction of $44,805.00. Following the sale, the insider now directly owns 18,833 shares of the company's stock, valued at approximately $1,125,083.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Toni Thompson Nadal sold 1,444 shares of the company's stock in a transaction on Monday, June 10th. The shares were sold at an average price of $65.68, for a total value of $94,841.92. Following the sale, the insider now directly owns 592 shares of the company's stock, valued at approximately $38,882.56. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Nicholas Daniel sold 750 shares of the company's stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $59.74, for a total transaction of $44,805.00. Following the completion of the sale, the insider now directly owns 18,833 shares in the company, valued at $1,125,083.42. The disclosure for this sale can be found here. Insiders sold a total of 2,694 shares of company stock worth $169,687 in the last three months. 2.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in Etsy by 0.7% during the first quarter. Vanguard Group Inc. now owns 13,528,736 shares of the specialty retailer's stock worth $929,695,000 after buying an additional 91,900 shares during the last quarter. Capital International Investors boosted its position in shares of Etsy by 0.6% in the fourth quarter. Capital International Investors now owns 8,175,260 shares of the specialty retailer's stock valued at $662,605,000 after acquiring an additional 45,305 shares during the period. Van ECK Associates Corp raised its stake in Etsy by 14.3% in the second quarter. Van ECK Associates Corp now owns 5,764,064 shares of the specialty retailer's stock valued at $339,964,000 after purchasing an additional 721,454 shares in the last quarter. Renaissance Technologies LLC raised its stake in Etsy by 21.1% in the second quarter. Renaissance Technologies LLC now owns 4,215,370 shares of the specialty retailer's stock valued at $248,623,000 after purchasing an additional 734,200 shares in the last quarter. Finally, Bares Capital Management Inc. raised its stake in shares of Etsy by 0.9% during the fourth quarter. Bares Capital Management Inc. now owns 4,080,338 shares of the specialty retailer's stock worth $330,711,000 after acquiring an additional 36,623 shares in the last quarter. 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.