Raymond James Trims Etsy (NASDAQ:ETSY) Target Price to $65.00

Etsy (NASDAQ:ETSY) had its price objective lowered by Raymond James from $72.00 to $65.00 in a research note published on Wednesday morning, Benzinga reports. The firm currently has an outperform rating on the specialty retailer’s stock.

A number of other research analysts have also recently weighed in on the stock. Wells Fargo & Company reduced their price target on shares of Etsy from $58.00 to $47.00 and set an “underweight” rating on the stock in a research report on Thursday, October 3rd. Needham & Company LLC reaffirmed a “buy” rating and set a $60.00 price target on shares of Etsy in a research report on Wednesday. Piper Sandler reiterated a “neutral” rating and issued a $56.00 price target on shares of Etsy in a report on Friday, August 23rd. Stifel Nicolaus reduced their price objective on Etsy from $65.00 to $64.00 and set a “hold” rating on the stock in a research note on Thursday, August 1st. Finally, Evercore ISI upgraded Etsy to a “strong-buy” rating in a report on Thursday, August 1st. Four analysts have rated the stock with a sell rating, twelve have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $66.83.

Etsy Stock Performance

Shares of ETSY stock opened at $48.64 on Wednesday. The firm has a market capitalization of $5.69 billion, a price-to-earnings ratio of 22.21, a price-to-earnings-growth ratio of 4.99 and a beta of 1.97. Etsy has a one year low of $48.07 and a one year high of $89.58. The company has a 50 day moving average price of $53.09 and a 200 day moving average price of $58.78.

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 the consensus estimate of $0.46 by ($0.05). The firm had revenue of $647.80 million during 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 quarterly 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 analysts forecast that Etsy will post 2.38 EPS for the current fiscal year.

Insider Buying and Selling at Etsy

In related news, CAO Merilee Buckley sold 1,676 shares of the stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $51.11, for a total transaction of $85,660.36. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CAO Merilee Buckley sold 1,676 shares of the company’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $51.11, for a total transaction of $85,660.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Nicholas Daniel sold 750 shares of the 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 sale, the insider now directly owns 18,083 shares in the company, valued at $1,001,798.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,619 shares of company stock worth $300,670 over the last 90 days. Insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. MCF Advisors LLC raised its holdings in shares of Etsy by 23,542.9% during the first 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 during the last quarter. Everence Capital Management Inc. acquired a new position in Etsy during the 3rd quarter worth $834,000. TD Asset Management Inc boosted its position in Etsy by 16.8% during the 1st quarter. TD Asset Management Inc now owns 1,540,465 shares of the specialty retailer’s stock worth $105,861,000 after acquiring an additional 221,275 shares during the period. Diversified Trust Co grew its stake in shares of Etsy by 11.5% in the second quarter. Diversified Trust Co now owns 6,459 shares of the specialty retailer’s stock worth $381,000 after purchasing an additional 668 shares in the last quarter. Finally, Advisors Asset Management Inc. increased its holdings in shares of Etsy by 12.6% during the first quarter. Advisors Asset Management Inc. now owns 146,865 shares of the specialty retailer’s stock valued at $10,093,000 after purchasing an additional 16,458 shares during the period. Institutional investors 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.