Etsy (NASDAQ:ETSY) Receives Neutral Rating from Cantor Fitzgerald

by · The Cerbat Gem

Cantor Fitzgerald reiterated their neutral rating on shares of Etsy (NASDAQ:ETSY – Free Report) in a research report sent to investors on Monday, Benzinga reports. Cantor Fitzgerald currently has a $50.00 price objective on the specialty retailer’s stock.

ETSY has been the subject of a number of other reports. Loop Capital decreased their price target on Etsy from $50.00 to $45.00 and set a sell rating for the company in a research note on Monday, August 12th. Evercore ISI raised shares of Etsy to a strong-buy rating in a research note on Thursday, August 1st. Wells Fargo & Company cut their price target on shares of Etsy from $58.00 to $56.00 and set an underweight rating for the company in a research note on Tuesday, June 25th. Piper Sandler restated a neutral rating and set a $56.00 price objective on shares of Etsy in a research note on Friday, August 23rd. Finally, Wedbush reiterated a neutral rating and issued a $65.00 target price on shares of Etsy in a research note on Monday, July 22nd. Four research analysts have rated the stock with a sell rating, thirteen have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of Hold and a consensus price target of $70.22.

Check Out Our Latest Report on ETSY

Etsy Stock Down 1.4 %

NASDAQ ETSY opened at $51.10 on Monday. Etsy has a 12-month low of $50.54 and a 12-month high of $89.58. The firm’s 50 day moving average is $55.38 and its 200-day moving average is $60.64. The company has a market capitalization of $5.98 billion, a PE ratio of 23.33, a price-to-earnings-growth ratio of 5.39 and a beta of 1.97.

Etsy (NASDAQ:ETSY – Get Free Report) last issued 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 the consensus estimate 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 firm earned $0.83 earnings per share. As a group, sell-side analysts expect that Etsy will post 2.38 EPS for the current year.

Insider Buying and Selling

In other Etsy news, insider Toni Thompson Nadal sold 1,443 shares of the business’s stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $51.11, for a total value of $73,751.73. Following the completion of the sale, the insider now owns 592 shares of the company’s stock, valued at approximately $30,257.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Toni Thompson Nadal sold 1,443 shares of the company’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 transaction of $73,751.73. Following the completion of the sale, the insider now owns 592 shares of the company’s stock, valued at approximately $30,257.12. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Nicholas Daniel sold 750 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $59.74, for a total transaction of $44,805.00. Following the sale, the insider now owns 18,833 shares in the company, valued at approximately $1,125,083.42. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,869 shares of company stock valued at $315,670. 2.60% of the stock is owned by company insiders.

Institutional Trading of Etsy

Several institutional investors and hedge funds have recently modified their holdings of ETSY. Sunbelt Securities Inc. grew its holdings in shares of Etsy by 3,900.0% during the 1st quarter. Sunbelt Securities Inc. now owns 440 shares of the specialty retailer’s stock valued at $30,000 after purchasing an additional 429 shares during the last quarter. Larson Financial Group LLC grew its stake in shares of Etsy by 1,576.5% during the first quarter. Larson Financial Group LLC now owns 570 shares of the specialty retailer’s stock worth $39,000 after buying an additional 536 shares during the last quarter. 1620 Investment Advisors Inc. acquired a new position in shares of Etsy during the second quarter worth $42,000. Headlands Technologies LLC acquired a new position in shares of Etsy during the first quarter worth $59,000. Finally, Jones Financial Companies Lllp lifted its stake in shares of Etsy by 64.0% in the 4th quarter. Jones Financial Companies Lllp now owns 953 shares of the specialty retailer’s stock valued at $77,000 after acquiring an additional 372 shares during the last quarter. 99.53% of the stock is currently owned by institutional investors.

About Etsy

(Get Free Report)

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.

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