Etsy (NASDAQ:ETSY) Rating Reiterated by Wolfe Research

Posted by on Feb 27th, 2023

Wolfe Research reissued their peer perform rating on shares of Etsy (NASDAQ:ETSY – Get Rating) in a research note published on Thursday, Benzinga reports.

ETSY has been the subject of a number of other research reports. JMP Securities lifted their price target on Etsy from $120.00 to $140.00 and gave the stock a market outperform rating in a research report on Wednesday, January 25th. BTIG Research boosted their price objective on Etsy from $119.00 to $137.00 in a research note on Thursday, December 1st. Needham & Company LLC reiterated a buy rating and set a $160.00 price objective on shares of Etsy in a research note on Thursday. Oppenheimer upped their price target on Etsy from $150.00 to $155.00 and gave the company an outperform rating in a research report on Thursday. Finally, Citigroup began coverage on Etsy in a research report on Tuesday, December 13th. They issued a buy rating and a $161.00 price target for the company. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, Etsy currently has an average rating of Moderate Buy and an average target price of $132.88.

Etsy Stock Performance

Shares of ETSY opened at $124.11 on Thursday. The company has a quick ratio of 2.72, a current ratio of 2.40 and a debt-to-equity ratio of 4.10. Etsy has a 52 week low of $67.01 and a 52 week high of $163.84. The business has a 50-day simple moving average of $131.12 and a two-hundred day simple moving average of $117.75. The stock has a market cap of $15.60 billion, a price-to-earnings ratio of -21.62, a PEG ratio of 5.25 and a beta of 1.87.

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

Insider Activity at Etsy

In related news, insider Nicholas Daniel sold 1,000 shares of the stock in a transaction on Tuesday, January 17th. The stock was sold at an average price of $135.18, for a total value of $135,180.00. Following the transaction, the insider now owns 3,309 shares of the company’s stock, valued at $447,310.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Etsy news, CEO Josh Silverman sold 20,850 shares of the firm’s stock in a transaction dated Wednesday, January 4th. The stock was sold at an average price of $116.94, for a total transaction of $2,438,199.00. Following the transaction, the chief executive officer now owns 107,305 shares of the company’s stock, valued at $12,548,246.70. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Nicholas Daniel sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, January 17th. The stock was sold at an average price of $135.18, for a total value of $135,180.00. Following the transaction, the insider now directly owns 3,309 shares in the company, valued at approximately $447,310.62. The disclosure for this sale can be found here. Insiders have sold 92,107 shares of company stock valued at $11,833,311 over the last quarter. 3.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Etsy

Hedge funds have recently made changes to their positions in the company. Private Advisor Group LLC boosted its stake in shares of Etsy by 16.1% during the first quarter. Private Advisor Group LLC now owns 5,222 shares of the specialty retailer’s stock worth $649,000 after buying an additional 725 shares during the period. Panagora Asset Management Inc. boosted its stake in shares of Etsy by 320.6% during the first quarter. Panagora Asset Management Inc. now owns 11,255 shares of the specialty retailer’s stock worth $1,399,000 after buying an additional 8,579 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of Etsy by 6.6% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 16,964 shares of the specialty retailer’s stock worth $2,108,000 after buying an additional 1,051 shares during the period. Yousif Capital Management LLC boosted its stake in shares of Etsy by 0.7% during the first quarter. Yousif Capital Management LLC now owns 29,567 shares of the specialty retailer’s stock worth $3,675,000 after buying an additional 211 shares during the period. Finally, U.S. Capital Wealth Advisors LLC boosted its stake in shares of Etsy by 7.3% during the first quarter. U.S. Capital Wealth Advisors LLC now owns 2,256 shares of the specialty retailer’s stock worth $280,000 after buying an additional 153 shares during the period. Hedge funds and other institutional investors own 95.46% of the company’s stock.

About Etsy

(Get Rating)

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.

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Analyst Recommendations for Etsy (NASDAQ:ETSY)

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