Etsy (NASDAQ:ETSY) Stock Price Expected to Rise, Truist Financial Analyst Says

Etsy (NASDAQ:ETSY - Free Report) had its target price upped by Truist Financial from $55.00 to $60.00 in a research note released on Tuesday morning,Benzinga reports. Truist Financial currently has a buy rating on the specialty retailer's stock.

ETSY has been the subject of a number of other reports. Needham & Company LLC reaffirmed a "buy" rating and issued a $60.00 target price on shares of Etsy in a research note on Wednesday, April 30th. Evercore ISI dropped their price target on shares of Etsy from $60.00 to $54.00 and set an "outperform" rating for the company in a research report on Thursday, May 1st. Deutsche Bank Aktiengesellschaft set a $40.00 target price on Etsy and gave the stock a "hold" rating in a research note on Monday, April 14th. Stifel Nicolaus decreased their price target on shares of Etsy from $51.00 to $45.00 and set a "hold" rating for the company in a research report on Wednesday, April 23rd. Finally, The Goldman Sachs Group lowered their price objective on Etsy from $35.00 to $31.00 and set a "sell" rating for the company in a research report on Thursday, May 1st. Six investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $49.87.

Etsy Price Performance

NASDAQ ETSY traded up $0.86 during trading hours on Tuesday, hitting $56.16. 6,411,911 shares of the company's stock traded hands, compared to its average volume of 4,229,742. The company has a market capitalization of $5.86 billion, a PE ratio of 40.11, a PEG ratio of 3.04 and a beta of 1.80. Etsy has a 52-week low of $40.05 and a 52-week high of $66.81. The firm's 50-day moving average is $49.97 and its 200-day moving average is $51.27.

Etsy (NASDAQ:ETSY - Get Free Report) last issued its earnings results on Wednesday, April 30th. The specialty retailer reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.04). The company had revenue of $651.18 million for the quarter, compared to analyst estimates of $642.22 million. Etsy had a negative return on equity of 39.60% and a net margin of 6.69%. The company's revenue for the quarter was up .8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.48 earnings per share. Equities research analysts predict that Etsy will post 2.57 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Nicholas Daniel sold 1,500 shares of the firm's stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $43.07, for a total transaction of $64,605.00. Following the transaction, the insider now owns 33,322 shares of the company's stock, valued at $1,435,178.54. This trade represents a 4.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Josh Silverman sold 151,666 shares of Etsy stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $57.68, for a total value of $8,748,094.88. Following the completion of the transaction, the chief executive officer now owns 107,809 shares in the company, valued at $6,218,423.12. This trade represents a 58.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 205,418 shares of company stock valued at $11,234,192 in the last ninety days. 2.80% of the stock is currently owned by company insiders.

Institutional Trading of Etsy

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Lindbrook Capital LLC raised its holdings in Etsy by 55.7% during the fourth quarter. Lindbrook Capital LLC now owns 506 shares of the specialty retailer's stock worth $27,000 after purchasing an additional 181 shares in the last quarter. True Wealth Design LLC increased 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 purchasing an additional 292 shares during the period. Hurley Capital LLC purchased a new position in shares of 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 worth approximately $34,000. Finally, Summit Securities Group LLC acquired a new stake in shares of Etsy in the 4th quarter valued at approximately $37,000. Hedge funds and other institutional investors own 99.53% of the company's stock.

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.