Etsy (NASDAQ:ETSY) Price Target Cut to $105.00 by Analysts at BTIG Research

Etsy (NASDAQ:ETSYGet Rating) had its price target reduced by BTIG Research from $140.00 to $105.00 in a research report released on Tuesday, The Fly reports. They currently have a buy rating on the specialty retailer’s stock.

A number of other equities research analysts also recently issued reports on ETSY. Oppenheimer reduced their price target on shares of Etsy from $140.00 to $120.00 and set an outperform rating for the company in a research report on Thursday, June 16th. Stifel Nicolaus reduced their price target on shares of Etsy from $160.00 to $130.00 in a research report on Thursday, May 5th. Loop Capital reduced their price target on shares of Etsy from $140.00 to $115.00 in a research report on Thursday, April 21st. UBS Group reduced their price target on shares of Etsy from $180.00 to $90.00 and set a neutral rating for the company in a research report on Friday, June 3rd. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of Etsy from $120.00 to $100.00 in a research report on Friday, May 6th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $161.50.

Shares of ETSY opened at $78.73 on Tuesday. Etsy has a twelve month low of $67.01 and a twelve month high of $307.75. The stock’s 50 day moving average is $86.48 and its two-hundred day moving average is $135.34. The firm has a market capitalization of $10.01 billion, a PE ratio of 26.16, a P/E/G ratio of 1.42 and a beta of 1.76. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 3.52.

Etsy (NASDAQ:ETSYGet Rating) last announced its quarterly earnings data on Wednesday, May 4th. The specialty retailer reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.01. Etsy had a return on equity of 73.57% and a net margin of 18.49%. The company had revenue of $579.30 million for the quarter, compared to analyst estimates of $574.71 million. During the same quarter in the previous year, the company earned $1.00 EPS. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, sell-side analysts predict that Etsy will post 2 EPS for the current year.

In other news, CAO Merilee Buckley sold 655 shares of the business’s stock in a transaction on Tuesday, April 5th. The shares were sold at an average price of $132.54, for a total transaction of $86,813.70. Following the completion of the sale, the chief accounting officer now directly owns 171 shares of the company’s stock, valued at approximately $22,664.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CMO Ryan M. Scott sold 6,147 shares of the business’s stock in a transaction on Friday, April 1st. The shares were sold at an average price of $126.11, for a total transaction of $775,198.17. The disclosure for this sale can be found here. Insiders sold a total of 92,525 shares of company stock valued at $8,853,475 over the last quarter. 3.10% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. CVA Family Office LLC purchased a new stake in shares of Etsy during the 4th quarter valued at $26,000. Future Financial Wealth Managment LLC purchased a new stake in shares of Etsy during the 4th quarter valued at $26,000. Covestor Ltd purchased a new stake in Etsy during the 4th quarter worth $29,000. Ahrens Investment Partners LLC purchased a new stake in Etsy during the 4th quarter worth $33,000. Finally, Rinkey Investments purchased a new stake in Etsy during the 4th quarter worth $26,000. 89.93% of the stock is owned by institutional investors.

About Etsy (Get Rating)

Etsy, Inc operates two-sided online marketplaces that connect buyers and sellers primarily in the United States, the United Kingdom, Germany, Canada, Australia, France, and India. 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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