Stifel Nicolaus Issues Positive Forecast for Etsy (NASDAQ:ETSY) Stock Price

Key Points

• Stifel Nicolaus has increased Etsy's price target from $45.00 to $66.00, indicating a potential upside of 6.30% from its previous close.
• Despite the upgrade by Stifel Nicolaus, Etsy holds an average rating of "Hold" across analysts, with other firms setting varying target prices and ratings, including a $41.00 target from Wells Fargo.
• Etsy's latest quarterly earnings report revealed a drop in earnings per share, reporting $0.46, which missed analysts' expectations by $0.04.

Etsy (NASDAQ:ETSY - Get Free Report) had its price target boosted by investment analysts at Stifel Nicolaus from $45.00 to $66.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a "hold" rating on the specialty retailer's stock. Stifel Nicolaus' price target points to a potential upside of 6.49% from the company's previous close.

A number of other equities analysts also recently commented on ETSY. Arete downgraded Etsy from a "neutral" rating to a "sell" rating and set a $43.00 price objective on the stock. in a report on Wednesday, June 11th. Citizens Jmp raised Etsy to a "hold" rating in a report on Thursday, July 10th. Bank of America decreased their target price on Etsy from $55.00 to $50.00 and set a "neutral" rating for the company in a research report on Tuesday, April 8th. Barclays cut their target price on Etsy from $53.00 to $52.00 and set an "equal weight" rating on the stock in a research note on Wednesday, July 23rd. Finally, UBS Group upped their price objective on Etsy from $45.00 to $62.00 and gave the stock a "neutral" rating in a research note on Monday, July 21st. Five equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Etsy currently has an average rating of "Hold" and an average price target of $52.42.

Etsy Stock Up 2.8%

Shares of NASDAQ ETSY traded up $1.68 during trading on Tuesday, reaching $61.98. 12,893,000 shares of the stock were exchanged, compared to its average volume of 4,672,448. The company has a market capitalization of $6.46 billion, a price-to-earnings ratio of 44.27, a price-to-earnings-growth ratio of 3.29 and a beta of 1.74. The business's 50-day moving average price is $56.48 and its 200 day moving average price is $51.38. Etsy has a twelve month low of $40.05 and a twelve month high of $68.45.

Etsy (NASDAQ:ETSY - Get Free Report) last announced its earnings results on Wednesday, July 30th. The specialty retailer reported $0.25 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.54 by ($0.29). The company had revenue of $672.66 million during the quarter, compared to the consensus estimate of $645.16 million. Etsy had a net margin of 6.69% and a negative return on equity of 39.60%. The business's quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.41 EPS. As a group, sell-side analysts expect that Etsy will post 2.57 earnings per share for the current fiscal year.

Insider Transactions at Etsy

In related news, CEO Josh Silverman sold 151,666 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $57.68, for a total transaction of $8,748,094.88. Following the completion of the sale, the chief executive officer owned 107,809 shares of the company's stock, valued at $6,218,423.12. This trade represents a 58.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CTO Richard Edward Colburn III sold 2,350 shares of the firm's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $47.01, for a total value of $110,473.50. Following the completion of the sale, the chief technology officer directly owned 2,896 shares of the company's stock, valued at $136,140.96. This trade represents a 44.80% decrease in their position. The disclosure for this sale can be found here. Insiders sold 342,298 shares of company stock worth $20,256,039 over the last ninety days. 2.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ETSY. HighTower Advisors LLC purchased a new position in Etsy during the fourth quarter worth about $218,000. Norges Bank bought a new position in shares of Etsy during the 4th quarter valued at $74,235,000. CIBC Private Wealth Group LLC raised its holdings in Etsy by 2,298.0% in the 4th quarter. CIBC Private Wealth Group LLC now owns 52,444 shares of the specialty retailer's stock worth $2,802,000 after purchasing an additional 50,257 shares during the period. O Shaughnessy Asset Management LLC grew its position in shares of Etsy by 83.3% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 8,455 shares of the specialty retailer's stock valued at $447,000 after purchasing an additional 3,843 shares in the last quarter. Finally, Headlands Technologies LLC grew its position in Etsy by 341.8% in the fourth quarter. Headlands Technologies LLC now owns 2,863 shares of the specialty retailer's stock worth $151,000 after acquiring an additional 2,215 shares in the last quarter. 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.