Analysts’ Weekly Ratings Updates for Etsy (ETSY)

Several analysts have recently updated their ratings and price targets for Etsy (NASDAQ: ETSY):

• 10/15/2024 – Etsy was downgraded by analysts at The Goldman Sachs Group, Inc. from a “neutral” rating to a “sell” rating. They now have a $45.00 price target on the stock, down previously from $70.00.
• 10/15/2024 – Etsy had its price target lowered by analysts at UBS Group AG from $65.00 to $58.00. They now have a “neutral” rating on the stock.
• 10/7/2024 – Etsy had its “neutral” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $50.00 price target on the stock.
• 10/3/2024 – Etsy had its price target lowered by analysts at Wells Fargo & Company from $58.00 to $47.00. They now have an “underweight” rating on the stock.
• 9/30/2024 – Etsy had its “neutral” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $50.00 price target on the stock.
• 9/24/2024 – Etsy had its “buy” rating reaffirmed by analysts at Truist Financial Co.. They now have a $76.00 price target on the stock.
• 9/23/2024 – Etsy had its “neutral” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $50.00 price target on the stock.
• 9/5/2024 – Etsy is now covered by analysts at Cantor Fitzgerald. They set a “neutral” rating and a $50.00 price target on the stock.
• 8/23/2024 – Etsy had its “neutral” rating reaffirmed by analysts at Piper Sandler. They now have a $56.00 price target on the stock.

Etsy Stock Performance

ETSY traded down $2.18 on Thursday, reaching $50.35. The company had a trading volume of 1,233,174 shares, compared to its average volume of 3,740,767. The business has a 50 day simple moving average of $53.60 and a 200 day simple moving average of $59.49. The company has a market cap of $5.89 billion, a price-to-earnings ratio of 22.99, a P/E/G ratio of 4.99 and a beta of 1.97. Etsy, Inc. has a 52-week low of $48.07 and a 52-week high of $89.58.

Etsy (NASDAQ:ETSY) last posted its quarterly 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). The business had revenue of $647.80 million for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period last year, the business posted $0.83 earnings per share. As a group, equities research analysts predict that Etsy, Inc. will post 2.38 EPS for the current fiscal year.

Insider Transactions at Etsy

In other news, insider Toni Thompson Nadal sold 1,443 shares of the firm’s stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $51.11, for a total value of $73,751.73. Following the transaction, the insider now owns 592 shares in the company, valued at approximately $30,257.12. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CAO Merilee Buckley sold 1,676 shares of Etsy stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $51.11, for a total value of $85,660.36. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Toni Thompson Nadal sold 1,443 shares of the business’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $51.11, for a total transaction of $73,751.73. Following the sale, the insider now owns 592 shares in the company, valued at approximately $30,257.12. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,619 shares of company stock worth $300,670. Insiders own 2.60% of the company’s stock.

Institutional Trading of Etsy

Hedge funds have recently modified their holdings of the business. Marshall Wace LLP raised its position in shares of Etsy by 304.2% in the 2nd quarter. Marshall Wace LLP now owns 1,402,216 shares of the specialty retailer’s stock worth $82,703,000 after purchasing an additional 1,055,296 shares during the last quarter. Renaissance Technologies LLC raised its position in Etsy by 21.1% in 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 last quarter. Van ECK Associates Corp raised its position in Etsy by 14.3% in 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 last quarter. Pacer Advisors Inc. raised its position in Etsy by 52.3% in 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 last quarter. Finally, AQR Capital Management LLC raised its position in Etsy by 76.2% in the 2nd quarter. AQR Capital Management LLC now owns 1,196,932 shares of the specialty retailer’s stock worth $69,685,000 after buying an additional 517,480 shares during the last quarter. Institutional investors own 99.53% of the company’s stock.

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.