Etsy (NASDAQ:ETSY) Rating Reiterated by Truist Financial

Truist Financial restated their buy rating on shares of Etsy (NASDAQ:ETSY) in a research note published on Tuesday morning, Benzinga reports. The firm currently has a $76.00 target price on the specialty retailer’s stock.

A number of other research firms have also recently commented on ETSY. Cantor Fitzgerald reissued a neutral rating and issued a $50.00 target price on shares of Etsy in a report on Monday, September 23rd. Stifel Nicolaus dropped their target price on shares of Etsy from $65.00 to $64.00 and set a hold rating for the company in a report on Thursday, August 1st. Piper Sandler reissued a neutral rating and issued a $56.00 target price on shares of Etsy in a report on Friday, August 23rd. Wells Fargo & Company dropped their target price on shares of Etsy from $58.00 to $56.00 and set an underweight rating for the company in a report on Tuesday, June 25th. Finally, Loop Capital dropped their target price on shares of Etsy from $50.00 to $45.00 and set a sell rating for the company in a report on Monday, August 12th. Four analysts have rated the stock with a sell rating, thirteen have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Etsy presently has a consensus rating of Hold and an average target price of $70.61.

Etsy Stock Up 2.5 %

Shares of Etsy stock opened at $57.14 on Tuesday. The company has a market capitalization of $6.68 billion, a price-to-earnings ratio of 26.09, a PEG ratio of 5.39 and a beta of 1.97. Etsy has a 12-month low of $50.63 and a 12-month high of $89.58. The firm’s 50-day moving average price is $55.85 and its two-hundred day moving average price is $61.02.

Etsy (NASDAQ:ETSY) last announced its quarterly earnings data on Wednesday, July 31st. The specialty retailer reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.05). The firm had revenue of $647.80 million for the quarter, compared to analyst estimates of $629.87 million. Etsy had a negative return on equity of 51.94% and a net margin of 10.36%. The company’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.83 earnings per share. On average, sell-side analysts expect that Etsy will post 2.38 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Nicholas Daniel sold 750 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $55.40, for a total transaction of $41,550.00. Following the completion of the sale, the insider now owns 18,083 shares of the company’s stock, valued at approximately $1,001,798.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In the last 90 days, insiders sold 2,000 shares of company stock worth $116,395. 2.60% of the stock is currently owned by insiders.

Institutional Trading of Etsy

Several large investors have recently modified their holdings of ETSY. Marshall Wace LLP grew its position in shares of Etsy by 304.2% during the 2nd quarter. Marshall Wace LLP now owns 1,402,216 shares of the specialty retailer’s stock worth $82,703,000 after buying an additional 1,055,296 shares during the period. TD Asset Management Inc grew its position in shares of Etsy by 260.2% during the 4th quarter. TD Asset Management Inc now owns 1,319,190 shares of the specialty retailer’s stock worth $106,920,000 after buying an additional 952,907 shares during the period. Renaissance Technologies LLC grew its position in shares of Etsy by 21.1% during the 2nd quarter. Renaissance Technologies LLC now owns 4,215,370 shares of the specialty retailer’s stock worth $248,623,000 after buying an additional 734,200 shares during the period. Van ECK Associates Corp grew its position in shares of Etsy by 14.3% during the 2nd quarter. Van ECK Associates Corp now owns 5,764,064 shares of the specialty retailer’s stock worth $339,964,000 after buying an additional 721,454 shares during the period. Finally, Pacer Advisors Inc. grew its position in shares of Etsy by 52.3% during the 2nd quarter. Pacer Advisors Inc. now owns 2,100,284 shares of the specialty retailer’s stock worth $123,875,000 after buying an additional 721,453 shares during the period. Institutional investors and hedge funds own 99.53% of the company’s stock.

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.