Etsy's (ETSY) "Neutral" Rating Reaffirmed at Cantor Fitzgerald

Etsy (NASDAQ:ETSY - Get Free Report)'s stock had its "neutral" rating restated by Cantor Fitzgerald in a research report issued on Monday, Benzinga reports. They presently have a $50.00 price objective on the specialty retailer's stock. Cantor Fitzgerald's price objective points to a potential downside of 3.44% from the company's current price.

Several other equities analysts have also weighed in on ETSY. Truist Financial reissued a "buy" rating and set a $76.00 price objective on shares of Etsy in a report on Tuesday, September 24th. Oppenheimer lowered Etsy from an "outperform" rating to a "market perform" rating in a report on Thursday, August 1st. Wolfe Research assumed coverage on shares of Etsy in a report on Tuesday, July 16th. They set a "peer perform" rating on the stock. Wedbush reiterated a "neutral" rating and set a $65.00 target price on shares of Etsy in a research report on Monday, July 22nd. Finally, Piper Sandler reissued a "neutral" rating and issued a $56.00 price target on shares of Etsy in a research report on Friday, August 23rd. Four investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Etsy has an average rating of "Hold" and an average target price of $70.22.

Etsy Price Performance

Shares of Etsy stock traded down $1.02 during trading hours on Monday, hitting $51.78. 473,912 shares of the company's stock traded hands, compared to its average volume of 3,761,342. The company has a fifty day simple moving average of $55.00 and a 200-day simple moving average of $60.38. The stock has a market capitalization of $6.05 billion, a price-to-earnings ratio of 23.64, a PEG ratio of 5.39 and a beta of 1.97. Etsy has a 12-month low of $50.54 and a 12-month high of $89.58.

Etsy (NASDAQ:ETSY - Get Free Report) last announced its quarterly earnings data on Wednesday, July 31st. The specialty retailer reported $0.41 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.05). Etsy had a negative return on equity of 51.94% and a net margin of 10.36%. The company had revenue of $647.80 million during the quarter, compared to the consensus estimate of $629.87 million. During the same period in the prior year, the firm posted $0.83 EPS. The business's revenue was up 3.0% on a year-over-year basis. On average, analysts forecast that Etsy will post 2.38 EPS for the current fiscal year.

Insider Transactions at Etsy

In related news, CAO Merilee Buckley sold 1,676 shares of the stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $51.11, for a total value of $85,660.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Toni Thompson Nadal sold 1,443 shares of the stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $51.11, for a total transaction of $73,751.73. Following the transaction, the insider now owns 592 shares of the company's stock, valued at approximately $30,257.12. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Merilee Buckley sold 1,676 shares of the company's stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $51.11, for a total transaction of $85,660.36. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,869 shares of company stock valued at $315,670. Insiders own 2.60% of the company's stock.

Institutional Investors Weigh In On Etsy

Hedge funds and other institutional investors have recently modified their holdings of the stock. Sanctuary Advisors LLC bought a new stake in Etsy in the second quarter valued at approximately $967,000. Clearline Capital LP raised its stake in shares of Etsy by 73.0% during the second quarter. Clearline Capital LP now owns 415,943 shares of the specialty retailer's stock valued at $24,532,000 after acquiring an additional 175,522 shares during the last quarter. Scientech Research LLC purchased a new stake in shares of Etsy during the second quarter worth about $241,000. The Manufacturers Life Insurance Company grew its stake in shares of Etsy by 1.8% in the second quarter. The Manufacturers Life Insurance Company now owns 96,488 shares of the specialty retailer's stock worth $5,691,000 after purchasing an additional 1,720 shares during the last quarter. Finally, MBB Public Markets I LLC purchased a new position in Etsy during the 2nd quarter valued at about $505,000. Institutional investors 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.

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