Etsy (NASDAQ:ETSY) Price Target Cut to $51.00 by Analysts at Stifel Nicolaus

Etsy (NASDAQ:ETSY) had its target price trimmed by Stifel Nicolaus from $56.00 to $51.00 in a research report sent to investors on Thursday,Benzinga reports. The brokerage currently has a hold rating on the specialty retailer’s stock.

Several other research firms have also commented on ETSY. JMP Securities reaffirmed a “market perform” rating on shares of Etsy in a report on Monday, December 16th. Needham & Company LLC reaffirmed a “buy” rating and issued a $60.00 price target on shares of Etsy in a report on Thursday. Cantor Fitzgerald lowered their price target on shares of Etsy from $46.00 to $43.00 and set a “neutral” rating on the stock in a report on Thursday. Bank of America lowered their price target on shares of Etsy from $61.00 to $58.00 and set a “neutral” rating on the stock in a report on Thursday, October 24th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Etsy to a “hold” rating and lowered their price target for the company from $45.00 to $43.00 in a report on Wednesday, February 12th. Four analysts have rated the stock with a sell rating, fourteen have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $60.08.

Etsy Price Performance

NASDAQ ETSY opened at $51.40 on Thursday. The stock’s fifty day moving average price is $54.58 and its 200 day moving average price is $53.81. Etsy has a 1 year low of $47.10 and a 1 year high of $78.65. The company has a market cap of $5.78 billion, a price-to-earnings ratio of 26.22, a PEG ratio of 2.83 and a beta of 2.00.

Etsy (NASDAQ:ETSY) last released its earnings results on Wednesday, February 19th. The specialty retailer reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.08. Etsy had a negative return on equity of 46.79% and a net margin of 9.17%. The firm had revenue of $852.16 million for the quarter, compared to the consensus estimate of $861.37 million. During the same period in the prior year, the firm earned $0.62 EPS. The firm’s revenue was up 1.2% on a year-over-year basis. Research analysts expect that Etsy will post 2.25 earnings per share for the current year.

Etsy declared that its Board of Directors has authorized a share buyback plan on Wednesday, October 30th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the specialty retailer to repurchase up to 17.8% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Insider Activity at Etsy

In other Etsy news, insider Nicholas Daniel sold 1,500 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $55.34, for a total value of $83,010.00. Following the completion of the sale, the insider now owns 22,198 shares in the company, valued at approximately $1,228,437.32. This represents a 6.33 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Etsy

A number of hedge funds have recently bought and sold shares of ETSY. Blue Trust Inc. raised its holdings in Etsy by 106.5% in the 3rd quarter. Blue Trust Inc. now owns 448 shares of the specialty retailer’s stock valued at $26,000 after acquiring an additional 231 shares during the last quarter. Lindbrook Capital LLC raised its holdings in Etsy by 55.7% in the 4th quarter. Lindbrook Capital LLC now owns 506 shares of the specialty retailer’s stock valued at $27,000 after acquiring an additional 181 shares during the last quarter. True Wealth Design LLC raised its holdings in Etsy by 112.7% in the 4th quarter. True Wealth Design LLC now owns 551 shares of the specialty retailer’s stock valued at $29,000 after acquiring an additional 292 shares during the last quarter. Hurley Capital LLC acquired a new stake in Etsy in the 4th quarter valued at about $32,000. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in Etsy in the 4th quarter valued at about $34,000. Institutional investors and hedge funds own 99.53% of the company’s stock.

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.