Etsy Inc (NYSE:ETSY) Stock Has Consensus Price Target of $86.21

Etsy Inc (NYSE:ETSY) has been given a consensus rating of “Hold” by the thirty-five research firms that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $86.21.

A number of analysts recently commented on the company. Argus upped their price objective on Etsy from $67.00 to $89.00 and gave the company a “buy” rating in a research report on Tuesday, September 8th. JPMorgan Chase & Co. upgraded shares of Etsy from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $85.00 to $100.00 in a research note on Friday, August 7th. Sanford C. Bernstein upgraded Etsy from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 11th. Evercore set a $83.00 target price on Etsy in a research report on Thursday, August 6th. Finally, Arete Research set a $81.00 price objective on Etsy and gave the stock a “neutral” rating in a research note on Thursday, September 24th.

Insider Activity

In other news, insider Josh Silverman sold 41,108 shares of the firm’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $83.11, for a total transaction of $3,416,485.88. Following the sale, the insider directly owned 171,932 shares in the company, valued at $14,289,268.52. This trade represents a 19.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Richard Colburn, III sold 8,252 shares of the stock in a transaction on Monday, August 10th. The stock was sold at an average price of $82.09, for a total value of $677,406.68. Following the completion of the sale, the insider owned 6,503 shares of the company’s stock, valued at $533,831.27. The trade was a 55.93% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 127,044 shares of company stock valued at $10,418,029. Company insiders own 2.50% of the company’s stock.

Institutional Investors Weigh In On Etsy

A number of hedge funds have recently made changes to their positions in ETSY. GAMMA Investing LLC increased its stake in Etsy by 18.9% in the 3rd quarter. GAMMA Investing LLC now owns 4,518 shares of the company’s stock worth $323,000 after acquiring an additional 718 shares during the last quarter. Farther Finance Advisors LLC grew its stake in shares of Etsy by 57.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 4,844 shares of the company’s stock worth $346,000 after buying an additional 1,765 shares in the last quarter. Sequoia Financial Advisors LLC increased its holdings in shares of Etsy by 10.3% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 4,584 shares of the company’s stock worth $345,000 after buying an additional 429 shares during the last quarter. Engineers Gate Manager LP raised its position in shares of Etsy by 56.2% during the 2nd quarter. Engineers Gate Manager LP now owns 77,568 shares of the company’s stock valued at $5,843,000 after buying an additional 27,908 shares in the last quarter. Finally, Baird Financial Group Inc. purchased a new position in Etsy in the second quarter worth about $226,000. 99.53% of the stock is currently owned by hedge funds and other institutional investors.

Etsy Stock Up 0.3%

Shares of ETSY opened at $76.92 on Tuesday. Etsy has a twelve month low of $44.00 and a twelve month high of $87.97. The company has a market capitalization of $7.30 billion, a P/E ratio of 42.97, a price-to-earnings-growth ratio of 1.92 and a beta of 1.86. The firm has a 50 day moving average of $77.08 and a 200 day moving average of $71.10.

Etsy (NYSE:ETSY) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($0.49) earnings per share for the quarter, missing the consensus estimate of $0.75 by ($1.24). Etsy had a negative return on equity of 34.18% and a net margin of 7.32%. The business had revenue of $668.31 million during the quarter, compared to analysts’ expectations of $646.10 million. During the same quarter in the prior year, the firm earned $0.25 EPS. The firm’s revenue for the quarter was down .7% compared to the same quarter last year. On average, sell-side analysts expect that Etsy will post 3.94 EPS for the current year.

Etsy Company Profile

Etsy, Inc operates a global online marketplace focused on unique and creative goods. Its platform connects buyers with independent sellers offering handmade products, vintage items, craft supplies, personalized merchandise, home décor, jewelry, clothing, and other specialty goods.

The company generates revenue primarily through marketplace services, including seller listing and transaction fees, payment processing, advertising, and other seller-focused services. Etsy also provides tools intended to help independent merchants manage their shops, market products, process orders, and reach customers.

Founded in 2005 and headquartered in Brooklyn, New York, Etsy serves buyers and sellers in numerous countries.