Etsy (NASDAQ:ETSY) Given New $140.00 Price Target at Evercore ISI

Posted by Defense World Staff on Mar 25th, 2023

Etsy (NASDAQ:ETSY – Get Rating) had its price objective reduced by Evercore ISI from $153.00 to $140.00 in a research note issued to investors on Friday, The Fly reports. They currently have an outperform rating on the specialty retailer’s stock.

ETSY has been the topic of a number of other research reports. Truist Financial lifted their target price on Etsy from $125.00 to $150.00 and gave the company a buy rating in a research report on Thursday, February 23rd. Piper Sandler boosted their price target on Etsy from $105.00 to $135.00 and gave the stock a neutral rating in a research report on Thursday, February 23rd. BTIG Research boosted their price target on Etsy from $119.00 to $137.00 in a research report on Thursday, December 1st. Wolfe Research reissued a peer perform rating on shares of Etsy in a research report on Thursday, February 23rd. Finally, Jefferies Financial Group downgraded Etsy from a buy rating to an underperform rating and lowered their price target for the stock from $150.00 to $85.00 in a research report on Thursday, March 9th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus price target of $132.54.

Etsy Price Performance

NASDAQ:ETSY opened at $106.85 on Friday. The company has a debt-to-equity ratio of 4.10, a quick ratio of 2.40 and a current ratio of 2.40. The stock’s 50-day simple moving average is $125.91 and its 200 day simple moving average is $117.93. The company has a market cap of $13.32 billion, a P/E ratio of -18.61, a P/E/G ratio of 6.33 and a beta of 1.99. Etsy has a 52-week low of $67.01 and a 52-week high of $149.91.

Etsy (NASDAQ:ETSY – Get Rating) last released its earnings results on Wednesday, February 22nd. The specialty retailer reported $0.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.05). The company had revenue of $807.20 million during the quarter, compared to analyst estimates of $752.12 million. Etsy had a negative net margin of 27.06% and a positive return on equity of 1,306.41%. Etsy’s revenue was up 12.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.11 EPS. As a group, sell-side analysts forecast that Etsy will post 2.62 EPS for the current fiscal year.

Insider Activity at Etsy

In related news, CEO Josh Silverman sold 20,850 shares of the business’s stock in a transaction that occurred on Wednesday, January 4th. The stock was sold at an average price of $116.94, for a total value of $2,438,199.00. Following the completion of the sale, the chief executive officer now directly owns 107,305 shares in the company, valued at $12,548,246.70. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, insider Nicholas Daniel sold 1,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 3,309 shares in the company, valued at $447,310.62. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Josh Silverman sold 20,850 shares of the company’s stock in a transaction on Wednesday, January 4th. The stock was sold at an average price of $116.94, for a total value of $2,438,199.00. Following the sale, the chief executive officer now owns 107,305 shares of the company’s stock, valued at $12,548,246.70. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 63,692 shares of company stock worth $7,961,533. Company insiders own 3.10% of the company’s stock.

Institutional Investors Weigh In On Etsy

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Glassman Wealth Services lifted its stake in Etsy by 22.1% during the fourth quarter. Glassman Wealth Services now owns 442 shares of the specialty retailer’s stock worth $53,000 after purchasing an additional 80 shares during the last quarter. LVZ Inc. lifted its stake in Etsy by 3.0% during the fourth quarter. LVZ Inc. now owns 2,980 shares of the specialty retailer’s stock worth $357,000 after purchasing an additional 86 shares during the last quarter. Clearstead Advisors LLC lifted its stake in Etsy by 22.1% during the second quarter. Clearstead Advisors LLC now owns 524 shares of the specialty retailer’s stock worth $38,000 after purchasing an additional 95 shares during the last quarter. Pinnacle Associates Ltd. increased its holdings in shares of Etsy by 4.7% during the fourth quarter. Pinnacle Associates Ltd. now owns 2,188 shares of the specialty retailer’s stock worth $262,000 after buying an additional 99 shares in the last quarter. Finally, Utah Retirement Systems increased its holdings in shares of Etsy by 0.4% during the third quarter. Utah Retirement Systems now owns 22,692 shares of the specialty retailer’s stock worth $2,272,000 after buying an additional 100 shares in the last quarter. 95.46% of the stock is currently owned by institutional investors.

Etsy Company Profile

(Get Rating)

Etsy, Inc engages in the operation of an 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 in 2005 and is headquartered in New York, NY.

Analyst Recommendations for Etsy (NASDAQ:ETSY)

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