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

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

A number of other brokerages also recently commented on ETSY. Wells Fargo & Company lowered their price target on shares of Etsy from $58.00 to $56.00 and set an underweight rating for the company in a report on Tuesday, June 25th. Truist Financial lowered their target price on shares of Etsy from $77.00 to $76.00 and set a buy rating for the company in a research note on Thursday, August 1st. Loop Capital dropped their price objective on Etsy from $50.00 to $45.00 and set a sell rating on the stock in a research note on Monday, August 12th. Oppenheimer cut shares of Etsy from an outperform rating to a market perform rating in a report on Thursday, August 1st. Finally, Wedbush reiterated a neutral rating and issued a $65.00 price target on shares of Etsy in a report on Monday, July 22nd. Four analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Etsy currently has a consensus rating of Hold and a consensus target price of $70.61.

Etsy Stock Performance

Shares of Etsy stock opened at $55.75 on Monday. The company has a market capitalization of $6.52 billion, a P/E ratio of 25.46, a P/E/G ratio of 5.39 and a beta of 1.97. The company has a fifty day moving average of $55.97 and a 200 day moving average of $61.13. Etsy has a fifty-two week low of $50.63 and a fifty-two week high of $89.58.

Etsy (NASDAQ:ETSY) last issued its earnings results on Wednesday, July 31st. The specialty retailer reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.05). The company had revenue of $647.80 million for the quarter, compared to the consensus estimate of $629.87 million. Etsy had a negative return on equity of 51.94% and a net margin of 10.36%. Etsy’s revenue was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.83 EPS. Analysts forecast that Etsy will post 2.38 EPS for the current year.

Insider Transactions at Etsy

In related news, insider Nicholas Daniel sold 750 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $55.40, for a total transaction of $41,550.00. Following the sale, the insider now directly owns 18,083 shares of the company’s stock, valued at $1,001,798.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders have sold 2,000 shares of company stock worth $116,395 over the last 90 days. 2.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Etsy

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Sunbelt Securities Inc. raised its position in Etsy by 3,900.0% during the first quarter. Sunbelt Securities Inc. now owns 440 shares of the specialty retailer’s stock worth $30,000 after acquiring an additional 429 shares during the period. EverSource Wealth Advisors LLC raised its position in shares of Etsy by 402.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 447 shares of the specialty retailer’s stock valued at $36,000 after buying an additional 358 shares during the period. Larson Financial Group LLC raised its position in Etsy by 1,576.5% in the first quarter. Larson Financial Group LLC now owns 570 shares of the specialty retailer’s stock valued at $39,000 after purchasing an additional 536 shares during the period. 1620 Investment Advisors Inc. acquired a new position in Etsy in the second quarter valued at about $42,000. Finally, Quadrant Capital Group LLC lifted its holdings in shares of Etsy by 56.4% in the 4th quarter. Quadrant Capital Group LLC now owns 688 shares of the specialty retailer’s stock worth $56,000 after acquiring an additional 248 shares during the last quarter. Institutional investors and hedge funds own 99.53% of the company’s stock.

Etsy Company Profile

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.