Etsy (NASDAQ:ETSY) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Key Points

• JPMorgan Chase & Co. has raised its price target for Etsy stock from $60.00 to $65.00, maintaining a "neutral" rating, despite indicating a potential downside of 7.12% from the current price.
• Several analysts have issued varying ratings on Etsy, including Deutsche Bank, which raised its target to $47.00 with a "hold" rating, and Guggenheim, which has a "buy" rating with a target of $70.00.
• In a recent trading session, Etsy's stock reached $69.98, following a recent quarterly earnings report that showed revenue growth of 3.8% year-over-year, but a missed EPS estimate.

Etsy (NASDAQ:ETSY - Get Free Report) had its price objective hoisted by stock analysts at JPMorgan Chase & Co. from $60.00 to $65.00 in a report issued on Monday,Benzinga reports. The firm currently has a "neutral" rating on the specialty retailer's stock. JPMorgan Chase & Co.'s target price indicates a potential downside of 7.12% from the stock's current price.

A number of other equities analysts also recently issued reports on ETSY. Deutsche Bank Aktiengesellschaft increased their price target on Etsy from $40.00 to $47.00 and gave the stock a "hold" rating in a research report on Tuesday, July 22nd. Weiss Ratings raised Etsy from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Wednesday, October 8th. Guggenheim reissued a "buy" rating and set a $70.00 target price on shares of Etsy in a research note on Thursday, September 18th. Barclays reissued a "positive" rating and set a $60.00 target price (up from $52.00) on shares of Etsy in a research note on Thursday, July 31st. Finally, Stifel Nicolaus upped their price objective on Etsy from $45.00 to $66.00 and gave the stock a "hold" rating in a research report on Tuesday, July 29th. Nine research analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $59.35.

Etsy Stock Performance

NASDAQ ETSY traded up $1.25 on Monday, reaching $69.98. 111,464 shares of the stock traded hands, compared to its average volume of 5,124,890. The company has a fifty day moving average price of $62.09 and a 200-day moving average price of $55.29. The company has a market cap of $6.94 billion, a price-to-earnings ratio of 56.31, a PEG ratio of 10.65 and a beta of 1.85. Etsy has a 12 month low of $40.05 and a 12 month high of $76.51.

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

Insiders Place Their Bets

In other Etsy news, CEO Josh Silverman sold 150,000 shares of the stock in a transaction on Monday, September 29th. The stock was sold at an average price of $72.50, for a total transaction of $10,875,000.00. Following the transaction, the chief executive officer owned 62,674 shares of the company's stock, valued at $4,543,865. This represents a 70.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Goyal Kruti Patel sold 11,944 shares of the firm's stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $59.31, for a total value of $708,398.64. Following the completion of the transaction, the insider directly owned 47,529 shares in the company, valued at $2,818,944.99. This trade represents a 20.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 542,667 shares of company stock valued at $35,462,857 in the last quarter. 2.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Etsy

A number of hedge funds have recently made changes to their positions in ETSY. Wynn Capital LLC bought a new stake in Etsy during the third quarter worth approximately $222,000. Assenagon Asset Management S.A. grew its holdings in shares of Etsy by 37.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,552,308 shares of the specialty retailer's stock valued at $103,058,000 after acquiring an additional 424,461 shares in the last quarter. Oak Thistle LLC lifted its stake in shares of Etsy by 284.7% in the 3rd quarter. Oak Thistle LLC now owns 34,705 shares of the specialty retailer's stock valued at $2,304,000 after purchasing an additional 25,683 shares during the last quarter. Aaron Wealth Advisors LLC lifted its stake in shares of Etsy by 216.9% in the 3rd quarter. Aaron Wealth Advisors LLC now owns 15,941 shares of the specialty retailer's stock valued at $1,058,000 after purchasing an additional 10,910 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in Etsy by 12.2% during the 3rd quarter. GAMMA Investing LLC now owns 3,128 shares of the specialty retailer's stock worth $208,000 after acquiring an additional 339 shares during 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.

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