Cantor Fitzgerald Forecasts Strong Price Appreciation for Etsy (NASDAQ:ETSY) Stock

Key Points

• Cantor Fitzgerald has raised its target price for Etsy (NASDAQ:ETSY) from $52.00 to $64.00, indicating a potential upside of 6.08% from the current price, while maintaining a "neutral" rating on the stock.
• Recent earnings results revealed that Etsy missed analyst consensus estimates with earnings per share of $0.25, against expectations of $0.54, although its revenue for the quarter was up 3.8% year-over-year.
• The average rating for Etsy among analysts is "Hold," with five ratings as "sell," seventeen as "hold," and six as "buy," suggesting mixed sentiment among investors.

Etsy (NASDAQ:ETSY - Get Free Report) had its target price lifted by Cantor Fitzgerald from $52.00 to $64.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a "neutral" rating on the specialty retailer's stock. Cantor Fitzgerald's price objective suggests a potential upside of 8.90% from the company's current price. Cantor Fitzgerald also issued estimates for Etsy's FY2026 earnings at $2.63 EPS.

Several other research analysts have also commented on the company. Citigroup cut their price objective on Etsy from $53.00 to $48.00 and set a "neutral" rating for the company in a report on Friday, April 25th. Canaccord Genuity Group raised their price objective on shares of Etsy from $62.00 to $68.00 and gave the company a "buy" rating in a research report on Monday, July 28th. Truist Financial upped their target price on shares of Etsy from $55.00 to $60.00 and gave the stock a "buy" rating in a research report on Tuesday, June 17th. Bank of America raised their price objective on Etsy from $67.00 to $71.00 and gave the company a "neutral" rating in a report on Thursday. Finally, Citizens Jmp raised Etsy to a "hold" rating in a research note on Thursday, July 10th. Five investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, Etsy currently has an average rating of "Hold" and a consensus price target of $56.76.

Etsy Price Performance

NASDAQ:ETSY traded up $0.50 on Thursday, reaching $58.77. 4,639,839 shares of the company's stock were exchanged, compared to its average volume of 5,269,765. Etsy has a 52 week low of $40.05 and a 52 week high of $68.45. The firm has a market cap of $5.82 billion, a price-to-earnings ratio of 47.40, a P/E/G ratio of 3.18 and a beta of 1.73. The stock has a fifty day simple moving average of $56.91 and a 200-day simple moving average of $51.44.

Etsy (NASDAQ:ETSY - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The specialty retailer reported $0.25 EPS for the quarter, missing analysts' consensus estimates of $0.54 by ($0.29). Etsy had a net margin of 5.78% and a negative return on equity of 31.10%. The firm had revenue of $672.66 million during the quarter, compared to the consensus estimate of $645.16 million. During the same quarter last year, the business posted $0.41 earnings per share. Etsy's revenue was up 3.8% compared to the same quarter last year. As a group, sell-side analysts predict that Etsy will post 2.57 EPS for the current year.

Insider Activity at Etsy

In related news, CEO Josh Silverman sold 151,666 shares of the company's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $57.68, for a total value of $8,748,094.88. Following the sale, the chief executive officer directly owned 107,809 shares of the company's stock, valued at $6,218,423.12. This represents a 58.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Melissa Reiff sold 6,909 shares of the firm's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $58.89, for a total value of $406,871.01. Following the transaction, the director directly owned 16,424 shares of the company's stock, valued at $967,209.36. This represents a 29.61% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 326,041 shares of company stock valued at $19,664,717 over the last quarter. Company insiders own 2.80% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Versant Capital Management Inc raised its position in shares of Etsy by 1,066.3% in the 1st quarter. Versant Capital Management Inc now owns 9,622 shares of the specialty retailer's stock worth $454,000 after purchasing an additional 8,797 shares during the last quarter. Brooklyn FI LLC bought a new stake in Etsy during the 4th quarter valued at approximately $5,229,000. JBGlobal.com LLC grew its holdings in Etsy by 68.2% during the 1st quarter. JBGlobal.com LLC now owns 12,837 shares of the specialty retailer's stock valued at $606,000 after buying an additional 5,206 shares in the last quarter. Praxis Investment Management Inc. bought a new position in shares of Etsy during the 1st quarter valued at approximately $232,000. Finally, Lmcg Investments LLC raised its position in shares of Etsy by 56.2% during the 1st quarter. Lmcg Investments LLC now owns 42,386 shares of the specialty retailer's stock valued at $2,000,000 after buying an additional 15,254 shares in the last quarter. 99.53% of the stock is owned by hedge funds and other institutional investors.

About Etsy

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.