BTIG Research Trims Etsy (NASDAQ:ETSY) Target Price to $105.00

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

Other analysts also recently issued research reports about the company. Loop Capital dropped their price target on Etsy from $140.00 to $115.00 in a research note on Thursday, April 21st. UBS Group decreased their price objective on Etsy from $180.00 to $90.00 and set a neutral rating for the company in a report on Friday, June 3rd. DA Davidson decreased their price objective on Etsy from $275.00 to $185.00 in a report on Thursday, May 5th. Oppenheimer decreased their price objective on Etsy from $140.00 to $120.00 and set an outperform rating for the company in a report on Thursday, June 16th. Finally, Morgan Stanley decreased their price objective on Etsy from $154.00 to $113.00 in a report on Thursday, May 5th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $161.50.

Etsy stock opened at $78.73 on Tuesday. The company has a debt-to-equity ratio of 3.52, a quick ratio of 2.68 and a current ratio of 2.68. The business’s 50-day simple moving average is $86.48 and its two-hundred day simple moving average is $135.34. The company has a market cap of $10.01 billion, a PE ratio of 26.16, a PEG ratio of 1.42 and a beta of 1.76. Etsy has a fifty-two week low of $67.01 and a fifty-two week high of $307.75.

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

In related news, CMO Ryan M. Scott sold 6,147 shares of the stock in a transaction that occurred on Friday, April 1st. The stock was sold at an average price of $126.11, for a total value of $775,198.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CMO Ryan M. Scott sold 2,323 shares of the stock in a transaction that occurred on Tuesday, April 5th. The stock was sold at an average price of $132.60, for a total value of $308,029.80. The disclosure for this sale can be found here. Insiders sold 92,525 shares of company stock valued at $8,853,475 over the last 90 days. Company insiders own 3.10% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. LGT Capital Partners LTD. boosted its position in shares of Etsy by 1.5% during the fourth quarter. LGT Capital Partners LTD. now owns 291,016 shares of the specialty retailer’s stock worth $63,715,000 after buying an additional 4,193 shares during the period. Blair William & Co. IL boosted its position in shares of Etsy by 6.1% during the fourth quarter. Blair William & Co. IL now owns 19,554 shares of the specialty retailer’s stock worth $4,281,000 after buying an additional 1,131 shares during the period. Legal & General Group Plc boosted its position in shares of Etsy by 0.3% during the fourth quarter. Legal & General Group Plc now owns 965,724 shares of the specialty retailer’s stock worth $211,435,000 after buying an additional 3,036 shares during the period. Raymond James & Associates boosted its position in shares of Etsy by 41.6% during the fourth quarter. Raymond James & Associates now owns 164,835 shares of the specialty retailer’s stock worth $36,089,000 after buying an additional 48,412 shares during the period. Finally, Cambridge Investment Research Advisors Inc. boosted its position in shares of Etsy by 2.6% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 31,646 shares of the specialty retailer’s stock worth $6,929,000 after buying an additional 804 shares during the period. Institutional investors own 89.93% of the company’s stock.

Etsy Company Profile (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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