Etsy (NASDAQ:ETSY) PT Lowered to $74.00 at Morgan Stanley

Posted by Defense World Staff on Feb 27th, 2023

Etsy (NASDAQ:ETSY – Get Rating) had its price target lowered by Morgan Stanley from $75.00 to $74.00 in a research note issued to investors on Thursday morning, Benzinga reports. Morgan Stanley currently has an equal weight rating on the specialty retailer’s stock.

Several other brokerages also recently issued reports on ETSY. Bank of America increased their price objective on shares of Etsy from $145.00 to $153.00 and gave the stock a neutral rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Etsy from $95.00 to $115.00 and gave the stock a hold rating in a research report on Thursday, February 2nd. Wolfe Research reissued a peer perform rating on shares of Etsy in a research report on Thursday. Moffett Nathanson assumed coverage on shares of Etsy in a research report on Tuesday, November 15th. They set a market perform rating and a $116.00 price objective for the company. Finally, Barclays increased their price objective on shares of Etsy from $98.00 to $115.00 and gave the stock an equal weight rating in a research report on Thursday. One analyst has rated the stock with a sell rating, ten have issued a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $132.88.

Etsy Trading Down 5.7 %

ETSY opened at $124.11 on Thursday. The firm’s fifty day moving average is $131.12 and its two-hundred day moving average is $117.75. The company has a debt-to-equity ratio of 4.10, a quick ratio of 2.72 and a current ratio of 2.40. The firm has a market cap of $15.60 billion, a PE ratio of -21.62, a price-to-earnings-growth ratio of 5.25 and a beta of 1.87. Etsy has a twelve month low of $67.01 and a twelve month high of $163.84.

Etsy (NASDAQ:ETSY – Get Rating) last posted its earnings results on Wednesday, February 22nd. The specialty retailer reported $0.77 earnings per share for the quarter, missing the consensus estimate of $0.82 by ($0.05). The firm had revenue of $807.20 million during the quarter, compared to analyst estimates of $752.12 million. Etsy had a positive return on equity of 1,306.41% and a negative net margin of 27.06%. The company’s revenue for the quarter was up 12.6% on a year-over-year basis. During the same quarter last year, the business posted $1.11 earnings per share. Equities research analysts anticipate that Etsy will post 2.78 EPS for the current year.

Insider Transactions at Etsy

In other news, insider Nicholas Daniel sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, January 17th. The shares were sold at an average price of $135.18, for a total transaction of $135,180.00. Following the completion of the sale, the insider now owns 3,309 shares in the company, valued at approximately $447,310.62. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, insider Nicholas Daniel sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, January 17th. The shares were sold at an average price of $135.18, for a total transaction of $135,180.00. Following the completion of the sale, the insider now owns 3,309 shares in the company, valued at approximately $447,310.62. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CMO Ryan M. Scott sold 1,237 shares of the firm’s stock in a transaction dated Thursday, December 1st. The stock was sold at an average price of $133.00, for a total transaction of $164,521.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 92,107 shares of company stock worth $11,833,311. 3.10% of the stock is owned by insiders.

Institutional Trading of Etsy

A number of hedge funds have recently modified their holdings of ETSY. Vanguard Group Inc. raised its stake in Etsy by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 13,833,881 shares of the specialty retailer’s stock worth $1,385,186,000 after purchasing an additional 83,960 shares in the last quarter. Capital World Investors raised its stake in Etsy by 13.4% in the 1st quarter. Capital World Investors now owns 3,457,269 shares of the specialty retailer’s stock worth $429,669,000 after purchasing an additional 409,540 shares in the last quarter. Clearbridge Investments LLC raised its stake in Etsy by 10.2% in the 4th quarter. Clearbridge Investments LLC now owns 3,008,544 shares of the specialty retailer’s stock worth $360,363,000 after purchasing an additional 277,650 shares in the last quarter. Geode Capital Management LLC raised its stake in Etsy by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 2,615,778 shares of the specialty retailer’s stock worth $312,756,000 after purchasing an additional 50,060 shares in the last quarter. Finally, Capital International Investors raised its stake in Etsy by 56.1% in the 1st quarter. Capital International Investors now owns 2,137,886 shares of the specialty retailer’s stock worth $265,696,000 after purchasing an additional 768,350 shares in the last quarter. Institutional investors and hedge funds own 95.46% of the company’s stock.

Etsy Company Profile

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Etsy, Inc engages in the operation of online marketplace. It offers handmade products such as shoes, clothing, bags, and accessories. It operates through the following segments. Etsy, Reverb, Depop, and Elo7. The company was founded by Haim Schoppik, Robert Kalin, Jared Tarbell, and Christopher Maguires in 2005 and is headquartered in New York, NY.