Etsy (NASDAQ:ETSY) Earns Neutral Rating from Analysts at Cantor Fitzgerald

Cantor Fitzgerald started coverage on shares of Etsy (NASDAQ:ETSY) in a research report released on Thursday, MarketBeat reports. The brokerage issued a neutral rating and a $50.00 price objective on the specialty retailer’s stock.

ETSY has been the topic of several other research reports. Truist Financial dropped their price objective on Etsy from $77.00 to $76.00 and set a buy rating on the stock in a research note on Thursday, August 1st. Wedbush reiterated a neutral rating and set a $65.00 price target on shares of Etsy in a research note on Monday, July 22nd. Loop Capital cut their target price on shares of Etsy from $50.00 to $45.00 and set a sell rating for the company in a research report on Monday, August 12th. Evercore ISI raised shares of Etsy to a strong-buy rating in a research report on Thursday, August 1st. Finally, Wells Fargo & Company cut their price objective on shares of Etsy from $58.00 to $56.00 and set an underweight rating for the company in a report on Tuesday, June 25th. Four equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of $70.61.

Etsy Stock Down 4.3 %

Shares of NASDAQ ETSY opened at $53.19 on Thursday. The company has a market capitalization of $6.22 billion, a PE ratio of 24.29, a PEG ratio of 5.44 and a beta of 1.97. The stock’s 50 day moving average price is $57.56 and its 200-day moving average price is $62.64. Etsy has a twelve month low of $51.45 and a twelve month high of $89.58.

Etsy (NASDAQ:ETSY) last posted its quarterly earnings data on Wednesday, July 31st. The specialty retailer reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.05). The business had revenue of $647.80 million during the quarter, compared to analysts’ expectations of $629.87 million. Etsy had a negative return on equity of 51.94% and a net margin of 10.36%. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.83 EPS. As a group, research analysts expect that Etsy will post 2.37 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Nicholas Daniel sold 750 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $55.40, for a total transaction of $41,550.00. Following the transaction, the insider now directly owns 18,083 shares in the company, valued at approximately $1,001,798.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 2,000 shares of company stock valued at $116,395 over the last 90 days. Insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Etsy

Several institutional investors and hedge funds have recently made changes to their positions in ETSY. Sunbelt Securities Inc. lifted its stake in Etsy by 3,900.0% in the first quarter. Sunbelt Securities Inc. now owns 440 shares of the specialty retailer’s stock worth $30,000 after purchasing an additional 429 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Etsy by 402.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 447 shares of the specialty retailer’s stock valued at $36,000 after acquiring an additional 358 shares during the period. Larson Financial Group LLC grew its position in Etsy by 1,576.5% during the 1st quarter. Larson Financial Group LLC now owns 570 shares of the specialty retailer’s stock worth $39,000 after acquiring an additional 536 shares during the last quarter. 1620 Investment Advisors Inc. purchased a new position in Etsy in the 2nd quarter worth approximately $42,000. Finally, Principal Securities Inc. bought a new stake in Etsy in the fourth quarter valued at approximately $47,000. Institutional investors own 99.53% of the company’s stock.

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.