Etsy (NASDAQ:ETSY) Given New $83.00 Price Target at B. Riley

Etsy (NASDAQ:ETSY) had its price objective decreased by B. Riley from $91.00 to $83.00 in a research note published on Thursday, Benzinga reports. B. Riley currently has a buy rating on the specialty retailer’s stock. B. Riley also issued estimates for Etsy’s FY2024 earnings at $2.80 EPS, FY2025 earnings at $3.53 EPS, FY2026 earnings at $4.31 EPS, FY2027 earnings at $5.19 EPS and FY2028 earnings at $6.11 EPS.

A number of other analysts also recently weighed in on the stock. Evercore ISI decreased their target price on shares of Etsy from $95.00 to $90.00 and set an outperform rating for the company in a research report on Thursday, February 22nd. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Etsy from $80.00 to $65.00 and set a hold rating for the company in a research report on Wednesday, April 10th. Wells Fargo & Company decreased their target price on shares of Etsy from $60.00 to $58.00 and set an underweight rating for the company in a research report on Thursday. Truist Financial decreased their target price on shares of Etsy from $85.00 to $75.00 and set a buy rating for the company in a research report on Thursday. Finally, Needham & Company LLC decreased their target price on shares of Etsy from $95.00 to $75.00 and set a buy rating for the company in a research report on Thursday. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, Etsy has an average rating of Hold and a consensus price target of $79.96.

Etsy Price Performance

NASDAQ ETSY traded up $0.73 during trading hours on Thursday, reaching $59.97. The company’s stock had a trading volume of 5,617,654 shares, compared to its average volume of 3,661,918. The firm has a fifty day simple moving average of $67.77 and a 200-day simple moving average of $71.52. The stock has a market cap of $7.02 billion, a P/E ratio of 27.38, a P/E/G ratio of 4.16 and a beta of 2.00. Etsy has a 52 week low of $56.60 and a 52 week high of $102.81.

Etsy (NASDAQ:ETSY) last issued its quarterly earnings data on Wednesday, May 1st. The specialty retailer reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.01). The business had revenue of $646.00 million during the quarter, compared to the consensus estimate of $646.30 million. Etsy had a net margin of 10.75% and a negative return on equity of 67.27%. The firm’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter last year, the business earned $0.53 EPS. On average, research analysts expect that Etsy will post 2.55 earnings per share for the current year.

Insider Buying and Selling at Etsy

In other Etsy news, CAO Merilee Buckley sold 1,671 shares of the firm’s stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $65.04, for a total transaction of $108,681.84. Following the transaction, the chief accounting officer now directly owns 2,827 shares in the company, valued at approximately $183,868.08. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CEO Josh Silverman sold 63,047 shares of Etsy stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $72.50, for a total transaction of $4,570,907.50. Following the sale, the chief executive officer now directly owns 23,140 shares in the company, valued at approximately $1,677,650. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Merilee Buckley sold 1,671 shares of Etsy stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $65.04, for a total value of $108,681.84. Following the sale, the chief accounting officer now owns 2,827 shares in the company, valued at $183,868.08. The disclosure for this sale can be found here. In the last three months, insiders have sold 66,968 shares of company stock worth $4,836,827. Corporate insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Etsy

Hedge funds have recently made changes to their positions in the business. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Etsy by 23.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 309,333 shares of the specialty retailer’s stock worth $19,977,000 after acquiring an additional 57,785 shares during the last quarter. Northern Trust Corp increased its holdings in Etsy by 4.3% in the 3rd quarter. Northern Trust Corp now owns 1,194,153 shares of the specialty retailer’s stock worth $77,118,000 after acquiring an additional 48,934 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Etsy in the 4th quarter worth about $2,273,000. International Assets Investment Management LLC purchased a new stake in Etsy in the 4th quarter worth about $38,490,000. Finally, CVA Family Office LLC purchased a new stake in Etsy in the 4th quarter worth about $27,000. 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.