Truist Financial Increases Etsy (NASDAQ:ETSY) Price Target to $77.00

Etsy (NASDAQ:ETSY) had its target price lifted by Truist Financial from $75.00 to $77.00 in a report published on Friday morning, Benzinga reports. Truist Financial currently has a buy rating on the specialty retailer’s stock.

A number of other equities analysts have also recently weighed in on ETSY. Barclays decreased their price objective on Etsy from $67.00 to $60.00 and set an equal weight rating on the stock in a report on Thursday, May 2nd. The Goldman Sachs Group decreased their price target on Etsy from $80.00 to $70.00 and set a neutral rating on the stock in a research note on Thursday, May 2nd. Deutsche Bank Aktiengesellschaft decreased their target price on Etsy from $80.00 to $65.00 and set a hold rating for the company in a report on Wednesday, April 10th. JMP Securities downgraded Etsy from an outperform rating to a market perform rating in a report on Thursday, May 2nd. Finally, Oppenheimer decreased their target price on Etsy from $95.00 to $80.00 and set an outperform rating for the company in a report on Monday, April 29th. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and eleven have given a buy rating to the company. According to MarketBeat, Etsy has a consensus rating of Hold and a consensus target price of $78.75.

Etsy Trading Up 2.6 %

Shares of ETSY opened at $63.87 on Friday. The company has a market cap of $7.47 billion, a PE ratio of 29.16, a price-to-earnings-growth ratio of 5.09 and a beta of 2.02. Etsy has a 12-month low of $55.08 and a 12-month high of $102.81. The stock has a 50-day moving average price of $61.09 and a 200-day moving average price of $66.15.

Etsy (NASDAQ:ETSY) last announced its quarterly earnings data on Wednesday, May 1st. The specialty retailer reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.01). The firm had revenue of $646.00 million for the quarter, compared to analysts’ expectations of $646.30 million. Etsy had a net margin of 10.75% and a negative return on equity of 67.27%. The business’s quarterly revenue was up .8% on a year-over-year basis. During the same period in the prior year, the business posted $0.53 earnings per share. As a group, analysts predict that Etsy will post 2.48 earnings per share for the current year.

Insider Activity at Etsy

In related news, insider Toni Thompson Nadal sold 1,444 shares of the stock in a transaction on Monday, June 10th. The stock was sold at an average price of $65.68, for a total transaction of $94,841.92. Following the sale, the insider now directly owns 592 shares of the company’s stock, valued at $38,882.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 2.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Polen Capital Management LLC boosted its position in Etsy by 83.3% in the fourth quarter. Polen Capital Management LLC now owns 34,322 shares of the specialty retailer’s stock worth $2,782,000 after purchasing an additional 15,598 shares during the last quarter. MCF Advisors LLC lifted its position in shares of Etsy by 23,542.9% during the 1st quarter. MCF Advisors LLC now owns 3,310 shares of the specialty retailer’s stock valued at $227,000 after buying an additional 3,296 shares in the last quarter. Coldstream Capital Management Inc. purchased a new position in shares of Etsy during the 4th quarter valued at about $267,000. TD Asset Management Inc lifted its position in shares of Etsy by 16.8% during the 1st quarter. TD Asset Management Inc now owns 1,540,465 shares of the specialty retailer’s stock valued at $105,861,000 after buying an additional 221,275 shares in the last quarter. Finally, Artisan Partners Limited Partnership lifted its position in shares of Etsy by 2.0% during the 4th quarter. Artisan Partners Limited Partnership now owns 1,555,432 shares of the specialty retailer’s stock valued at $126,068,000 after buying an additional 30,561 shares in the last quarter. 99.53% of the stock is owned by hedge funds and other 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.