Etsy, Inc. (NASDAQ:ETSY) Receives Consensus Recommendation of "Hold" from Analysts

Shares of Etsy, Inc. (NASDAQ:ETSY - Get Free Report) have earned an average recommendation of "Hold" from the twenty-five brokerages that are presently covering the stock, MarketBeat.com reports. Four analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have given a buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $50.14.

A number of research firms have recently commented on ETSY. The Goldman Sachs Group cut their price target on shares of Etsy from $35.00 to $31.00 and set a "sell" rating on the stock in a report on Thursday, May 1st. B. Riley cut their price target on shares of Etsy from $62.00 to $55.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Citigroup cut their price target on shares of Etsy from $53.00 to $48.00 and set a "neutral" rating on the stock in a report on Friday, April 25th. JPMorgan Chase & Co. cut their price target on shares of Etsy from $50.00 to $42.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. Finally, Loop Capital cut their price target on shares of Etsy from $40.00 to $37.00 and set a "sell" rating on the stock in a report on Thursday, May 1st.

Etsy Stock Performance

ETSY stock traded up $1.54 during mid-day trading on Friday, reaching $52.99. 8,408,999 shares of the stock traded hands, compared to its average volume of 3,964,314. Etsy has a one year low of $40.05 and a one year high of $66.93. The stock has a market capitalization of $5.53 billion, a PE ratio of 22.36, a PEG ratio of 2.57 and a beta of 1.78. The business has a 50-day moving average price of $46.01 and a two-hundred day moving average price of $50.66.

Etsy (NASDAQ:ETSY - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The specialty retailer reported $0.46 earnings per share for the quarter, missing analysts' consensus estimates of $0.50 by ($0.04). Etsy had a net margin of 10.80% and a negative return on equity of 46.62%. The firm had revenue of $651.18 million for the quarter, compared to the consensus estimate of $642.22 million. During the same quarter last year, the firm earned $0.48 EPS. The company's revenue was up .8% on a year-over-year basis. On average, equities analysts expect that Etsy will post 2.57 earnings per share for the current fiscal year.

Insider Activity at Etsy

In other Etsy news, insider Nicholas Daniel sold 1,500 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $50.48, for a total transaction of $75,720.00. Following the completion of the transaction, the insider now directly owns 20,698 shares of the company's stock, valued at approximately $1,044,835.04. This trade represents a 6.76% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Merilee Buckley sold 1,676 shares of the firm's stock in a transaction that occurred on Thursday, April 3rd. The stock was sold at an average price of $48.40, for a total transaction of $81,118.40. The disclosure for this sale can be found here. Insiders sold 53,752 shares of company stock valued at $2,473,662 in the last three months. 2.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Etsy

Institutional investors have recently bought and sold shares of the business. Lindbrook Capital LLC raised its position in Etsy by 55.7% during the 4th quarter. Lindbrook Capital LLC now owns 506 shares of the specialty retailer's stock worth $27,000 after buying an additional 181 shares during the last quarter. True Wealth Design LLC raised its position in Etsy by 112.7% during the 4th quarter. True Wealth Design LLC now owns 551 shares of the specialty retailer's stock worth $29,000 after buying an additional 292 shares during the last quarter. Hurley Capital LLC purchased a new position in Etsy during the 4th quarter worth approximately $32,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of Etsy during the 4th quarter valued at approximately $34,000. Finally, Summit Securities Group LLC purchased a new position in shares of Etsy during the 4th quarter valued at approximately $37,000. 99.53% of the stock is owned by hedge funds and other institutional investors.

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.