Etsy’s (ETSY) “Neutral” Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald reiterated their neutral rating on shares of Etsy (NASDAQ:ETSY) in a report published on Monday, Benzinga reports. Cantor Fitzgerald currently has a $50.00 price target on the specialty retailer’s stock.

ETSY has been the topic of several other research reports. Piper Sandler reaffirmed a neutral rating and set a $56.00 price objective on shares of Etsy in a research report on Friday, August 23rd. Wells Fargo & Company cut their price target on Etsy from $58.00 to $56.00 and set an underweight rating for the company in a report on Tuesday, June 25th. Evercore ISI raised Etsy to a strong-buy rating in a report on Thursday, August 1st. Oppenheimer cut Etsy from an outperform rating to a market perform rating in a research report on Thursday, August 1st. Finally, Truist Financial reduced their target price on Etsy from $77.00 to $76.00 and set a buy rating for the company in a research report on Thursday, August 1st. Four investment 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 company’s stock. According to data from MarketBeat, the company presently has a consensus rating of Hold and an average target price of $70.61.

Etsy Stock Down 0.7 %

Shares of NASDAQ:ETSY opened at $54.62 on Monday. The business has a 50 day moving average price of $56.12 and a 200 day moving average price of $61.17. The company has a market cap of $6.27 billion, a price-to-earnings ratio of 24.94, a PEG ratio of 5.39 and a beta of 1.97. Etsy has a twelve month low of $50.63 and a twelve month high of $89.58.

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 the consensus estimate of $0.46 by ($0.05). The company had revenue of $647.80 million during 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 revenue was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.83 EPS. Analysts anticipate that Etsy will post 2.38 EPS for the current year.

Insider Activity at Etsy

In other Etsy news, insider Nicholas Daniel sold 750 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $55.40, for a total value of $41,550.00. Following the completion of the sale, the insider now owns 18,083 shares in the company, valued at approximately $1,001,798.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 2,000 shares of company stock valued at $116,395 over the last ninety days. 2.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Etsy

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Etsy by 0.7% during the first quarter. Vanguard Group Inc. now owns 13,528,736 shares of the specialty retailer’s stock valued at $929,695,000 after acquiring an additional 91,900 shares during the period. Capital International Investors raised its holdings in Etsy by 0.6% during the 4th quarter. Capital International Investors now owns 8,175,260 shares of the specialty retailer’s stock worth $662,605,000 after purchasing an additional 45,305 shares during the last quarter. Van ECK Associates Corp lifted its position in Etsy by 14.3% during the 2nd quarter. Van ECK Associates Corp now owns 5,764,064 shares of the specialty retailer’s stock valued at $339,964,000 after purchasing an additional 721,454 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Etsy by 21.1% in the 2nd quarter. Renaissance Technologies LLC now owns 4,215,370 shares of the specialty retailer’s stock valued at $248,623,000 after purchasing an additional 734,200 shares during the last quarter. Finally, Bares Capital Management Inc. grew its position in shares of Etsy by 0.9% during the 4th quarter. Bares Capital Management Inc. now owns 4,080,338 shares of the specialty retailer’s stock worth $330,711,000 after buying an additional 36,623 shares during the period. 99.53% of the stock is owned by institutional investors and hedge funds.

About Etsy

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.