Cantor Fitzgerald Reaffirms “Neutral” Rating for Etsy (NASDAQ:ETSY)

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

Other equities analysts also recently issued research reports about the stock. Stifel Nicolaus lowered their target price on shares of Etsy from $65.00 to $64.00 and set a hold rating for the company in a research note on Thursday, August 1st. Oppenheimer downgraded Etsy from an outperform rating to a market perform rating in a research note on Thursday, August 1st. Wells Fargo & Company decreased their target price on Etsy from $58.00 to $56.00 and set an underweight rating for the company in a research note on Tuesday, June 25th. Truist Financial reissued a buy rating and issued a $76.00 price target on shares of Etsy in a research note on Tuesday, September 24th. Finally, 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. Four research analysts have rated the stock with a sell rating, thirteen have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Etsy currently has a consensus rating of Hold and a consensus target price of $70.61.

Etsy Trading Down 0.9 %

Shares of ETSY opened at $51.84 on Monday. The stock’s 50-day moving average price is $55.55 and its two-hundred day moving average price is $60.70. Etsy has a 12 month low of $50.63 and a 12 month high of $89.58. The company has a market capitalization of $6.06 billion, a PE ratio of 23.63, a PEG ratio of 5.39 and a beta of 1.97.

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

Insider Activity at Etsy

In other Etsy news, insider Nicholas Daniel sold 750 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $55.40, for a total value of $41,550.00. Following the completion of the transaction, the insider now owns 18,083 shares in the company, valued at approximately $1,001,798.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last three months, insiders sold 2,000 shares of company stock valued at $116,395. 2.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ETSY. Corient Private Wealth LLC grew its holdings in Etsy by 48.9% during the fourth quarter. Corient Private Wealth LLC now owns 12,568 shares of the specialty retailer’s stock valued at $1,019,000 after purchasing an additional 4,126 shares during the period. Treasurer of the State of North Carolina increased its holdings in Etsy by 0.9% in the 4th quarter. Treasurer of the State of North Carolina now owns 55,945 shares of the specialty retailer’s stock worth $4,534,000 after acquiring an additional 490 shares during the last quarter. California State Teachers Retirement System raised its stake in Etsy by 1.5% in the 4th quarter. California State Teachers Retirement System now owns 196,627 shares of the specialty retailer’s stock valued at $15,937,000 after acquiring an additional 2,846 shares during the period. Campbell & CO Investment Adviser LLC purchased a new stake in Etsy during the fourth quarter valued at about $676,000. Finally, Jones Financial Companies Lllp boosted its position in Etsy by 64.0% during the fourth quarter. Jones Financial Companies Lllp now owns 953 shares of the specialty retailer’s stock worth $77,000 after purchasing an additional 372 shares during the period. 99.53% of the stock is owned by institutional investors.

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.