Etsy, Inc. (ETSY:NSD) has been rated “Buy” by twenty-nine research firms, with one rating the stock as a sell, ten as hold, and eleven as buy, according to Stock Target Advisor Ratings.
Over the past year, brokerages that have issued ratings on Etsy stock have an average 1-year price objective of $129.60. Several research reports have been written on Etsy, with Canaccord Genuity Group raising its price target from $160.00 to $170.00 and giving the stock a “buy” rating, and Truist Financial also raising its price objective from $125.00 to $150.00 and rating the stock as a “buy”.
Meanwhile, BTIG Research has raised its price objective from $119.00 to $137.00, DA Davidson from $121.00 to $161.00, and Needham & Company LLC has reiterated its “buy” rating and issued a $160.00 price target.
ETSY Stock Price Analysis:
On Thursday, ETSY shares opened at $104.74. The company’s 50-day moving average price is $128.76, and the 200-day moving average price is $117.97. ETSY’s 52-week range is between $67.01 and $151.50.
The company has a market capitalization of $13.06 billion, a price-to-earnings (P/E) ratio of -18.25, a P/E/G ratio of 5.54, and a beta of 1.99. It has a quick ratio of 2.40, a current ratio of 2.40, and a debt-to-equity ratio of 4.10.
Quarterly Earnings Review:
In its latest quarterly earnings report, Etsy announced earnings per share of $0.77, falling short of the consensus estimate of $0.82. The company’s revenue for the quarter was $807.20 million, compared to the consensus estimate of $752.12 million.
During the same quarter in the previous year, the company earned $1.11 earnings per share. As a group, equities research analysts expect that Etsy will post 2.81 earnings per share for the current year.
ETSY Stock-Insider Transactions:
Over the past 90 days, insiders have sold 84,542 shares of Etsy stock worth $10,731,872. Insiders own 3.10% of the company’s stock. On December 21st, CEO Josh Silverman sold 20,850 shares of ETSY stock in a transaction valued at $2,770,339.50.
In addition, CFO Rachel C. Glaser sold 19,822 shares of the company’s stock on February 24th, with the shares selling at an average price of $125.54, for a total transaction value of $2,488,453.88.
Hedge Funds & Institutional Holdings:
Several hedge funds have recently bought and sold shares of ETSY, with Optimum Investment Advisors increasing its position in Etsy by 400.0% during the third quarter.
OLD Mission Capital LLC also purchased a new stake in shares of Etsy during the fourth quarter valued at $25,000, while Trustcore Financial Services LLC boosted its stake in shares of Etsy by 166.3% during the third quarter.
CoreCap Advisors LLC and ICA Group Wealth Management LLC have also recently purchased new stakes in 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, France, and India. Its primary marketplace is Etsy.com which connects artisans and entrepreneurs with various consumers.
The company formerly known as Indieco, Inc changed its name to Etsy, Inc. in June 2006. Etsy, Inc. was founded in 2005 and is headquartered in Brooklyn, New York.