Wedbush Reaffirms Neutral Rating on Etsy (NASDAQ:ETSY)

Etsy (NASDAQ:ETSY – Get Free Report)Investment analysts at Wedbush reiterated a “neutral” rating on the stock in a research report issued to clients and investors on Monday, Benzinga reports. They currently have a price target of $65.00 on the specialty retailer’s stock. The Wedbush price target would indicate a potential upside of 5.71% from the company’s current price.

Other equities research analysts also issued research reports on the stock. Needham & Company LLC lowered their price target on shares of Etsy from $95.00 to $75.00 and set a “buy” rating for the stock in a report on Thursday, May 2. Citigroup lowered their price target on shares of Etsy from $72.00 to $62.00 and set a “neutral” rating for the company in a report on Thursday, May 2. Guggenheim lowered their price target on shares of Etsy from $95.00 to $80.00 and set a “buy” rating for the stock in a report on Thursday, May 2. Oppenheimer lowered their price target on shares of Etsy from $95.00 to $80.00 and set an “outperform” rating for the company in a report on Monday, April 29. Finally, BTIG Research lowered their price target on Etsy from $87.00 to $78.00 and set a “buy” rating for the stock in a report on Thursday, May 2. Four research analysts have rated the stock a sell, eleven have rated it a hold, and eleven have rated it a buy. The company currently has an average rating of “Hold” and an average price target of $79.92, based on data from MarketBeat.

Check out our latest analysis on Etsy

Etsy Price Performance

ETSY shares were down $1.27 in midday on Monday, reaching $61.49. The stock had trading volume of 306,148 shares, compared to its average volume of 3,581,673. The company’s 50-day moving average price is $61.35, and its 200-day moving average price is $66.74. Etsy has a 52-week low of $55.08 and a 52-week high of $102.81. The company has a market capitalization of $7.19 billion, a P/E ratio of 28.08, a P/E/G ratio of 5.12, and a beta of 2.02.

Etsy (NASDAQ:ETSY – Get Free Report) last released its financial results on Wednesday, May 1. The specialty retailer reported $0.48 earnings per share (EPS) for the quarter, missing the analyst consensus of $0.49 by ($0.01). Etsy reported a negative return on equity of 67.27% and a net margin of 10.75%. The company had revenue of $646.00 million for the quarter, compared to analyst estimates of $646.30 million. During the same quarter last year, the company earned $0.53 earnings per share. The company’s revenue increased by 0.8% compared to the same quarter last year. Equity analysts, on average, forecast that Etsy will post 2.48 earnings per share for the current year.

Insiders are betting

In related news, insider Toni Thompson Nadal sold 1,444 shares of the company’s stock in a transaction on Monday, June 10. The shares were sold at an average price of $65.68, for a total of $94,841.92. Following the completion of the transaction, the insider now directly owns 592 shares of the company’s stock, valued at $38,882.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC’s website. Corporate insiders own 2.60% of the company’s stock.

Institutional inflows and outflows

Hedge funds have recently added to or reduced their holdings in the business. Norges Bank purchased a new stake in Etsy in Q4 worth about $86,494,000. Van ECK Associates Corp increased its stake in Etsy shares by 26.5% in Q4. Van ECK Associates Corp now owns 4,616,990 shares of the specialty retailer’s stock worth $374,207,000 after purchasing an additional 967,777 shares in the last quarter. TD Asset Management Inc increased its holdings in Etsy shares by 260.2% in Q4. TD Asset Management Inc now owns 1,319,190 shares of the specialty retailer’s stock worth $106,920,000 after purchasing an additional 952,907 shares in the last quarter. Epoch Investment Partners Inc. increased its holdings in shares of Etsy by 84.4% in the fourth quarter. Epoch Investment Partners Inc. now owns 1,309,510 shares of the specialty retailer’s stock worth $106,136,000 after purchasing an additional 599,286 shares in the last quarter. Finally, DAVENPORT & Co LLC increased its holdings in shares of Etsy by 120.7% in the first quarter. DAVENPORT & Co LLC now owns 789,917 shares of the specialty retailer’s stock worth $54,021,000 after purchasing an additional 431,993 shares in the last quarter. Institutional investors and hedge funds own 99.53% of the company’s stock.

About Etsy

(Download the free report)

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, which connects artisans and entrepreneurs with a variety of consumers. The company also offers Reverb, a marketplace for musical instruments; Depop, a fashion resale marketplace; and Elo7, a Brazilian marketplace for handmade and unique items.

Featured Stories

Get daily news and reviews about Etsy – Enter your email address below to receive a concise summary of the latest news and analyst ratings for Etsy and related companies in MarketBeat.com’s FREE daily newsletter.