Etsy's (ETSY) "Buy" Rating Reaffirmed at Needham & Company LLC

Etsy (NASDAQ:ETSY - Get Free Report)'s stock had its "buy" rating restated by equities researchers at Needham & Company LLC in a note issued to investors on Wednesday,Benzinga reports. They currently have a $60.00 target price on the specialty retailer's stock. Needham & Company LLC's price target would suggest a potential upside of 35.44% from the company's previous close.

ETSY has been the topic of a number of other reports. JPMorgan Chase & Co. cut their price target on Etsy from $50.00 to $42.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. UBS Group cut their price target on Etsy from $54.00 to $46.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Loop Capital dropped their price objective on Etsy from $45.00 to $40.00 and set a "sell" rating for the company in a research note on Thursday, February 20th. Wells Fargo & Company dropped their price objective on Etsy from $47.00 to $46.00 and set an "underweight" rating for the company in a research note on Wednesday, April 2nd. Finally, Deutsche Bank Aktiengesellschaft set a $40.00 target price on shares of Etsy and gave the stock a "hold" rating in a research report on Monday, April 14th. Four 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. Based on data from MarketBeat, Etsy presently has a consensus rating of "Hold" and an average price target of $50.14.

Etsy Trading Up 4.2 %

Shares of Etsy stock traded up $1.79 on Wednesday, reaching $44.30. 5,342,612 shares of the company were exchanged, compared to its average volume of 3,855,094. The company has a market capitalization of $4.62 billion, a price-to-earnings ratio of 18.69, a PEG ratio of 2.57 and a beta of 1.78. The company has a 50-day moving average of $45.88 and a 200 day moving average of $51.11. Etsy has a one year low of $40.05 and a one year high of $66.93.

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

Insiders Place Their Bets

In related news, insider Nicholas Daniel sold 1,500 shares of the business's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $55.34, for a total transaction of $83,010.00. Following the completion of the sale, the insider now owns 22,198 shares of the company's stock, valued at $1,228,437.32. This represents a 6.33 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Josh Silverman sold 21,666 shares of Etsy stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $52.05, for a total value of $1,127,715.30. Following the completion of the transaction, the chief executive officer now owns 5,004 shares of the company's stock, valued at approximately $260,458.20. The trade was a 81.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 50,952 shares of company stock worth $2,554,620 in the last three months. 2.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Etsy

Hedge funds have recently added to or reduced their stakes in the stock. Lindbrook Capital LLC boosted its stake in Etsy by 55.7% during the 4th quarter. Lindbrook Capital LLC now owns 506 shares of the specialty retailer's stock valued at $27,000 after purchasing an additional 181 shares during the period. True Wealth Design LLC raised its stake in Etsy by 112.7% during the 4th quarter. True Wealth Design LLC now owns 551 shares of the specialty retailer's stock valued at $29,000 after acquiring an additional 292 shares in the last quarter. Hurley Capital LLC acquired a new position in Etsy during the 4th quarter worth $32,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of Etsy during the fourth quarter valued at $34,000. Finally, Allworth Financial LP raised its stake in shares of Etsy by 47.6% during the first quarter. Allworth Financial LP now owns 769 shares of the specialty retailer's stock valued at $35,000 after purchasing an additional 248 shares in the last quarter. 99.53% of the stock is currently owned by 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.