JMP Securities Raises Etsy (NASDAQ:ETSY) Price Target to $140.00

Etsy (NASDAQ:ETSYGet Rating) had its price objective increased by investment analysts at JMP Securities from $120.00 to $140.00 in a report issued on Wednesday, The Fly reports. JMP Securities’ price objective suggests a potential upside of 2.43% from the stock’s current price.

A number of other brokerages also recently issued reports on ETSY. Moffett Nathanson initiated coverage on shares of Etsy in a report on Tuesday, November 15th. They issued a “market perform” rating and a $116.00 price target for the company. The Goldman Sachs Group initiated coverage on shares of Etsy in a report on Monday, October 10th. They issued a “buy” rating and a $130.00 price target for the company. TheStreet downgraded shares of Etsy from a “c” rating to a “d” rating in a report on Wednesday, November 2nd. Deutsche Bank Aktiengesellschaft raised their target price on shares of Etsy from $85.00 to $95.00 in a report on Thursday, November 3rd. Finally, Bank of America raised their target price on shares of Etsy from $110.00 to $145.00 in a report on Tuesday, December 6th. Eleven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Etsy presently has an average rating of “Moderate Buy” and an average price target of $121.04.

Etsy Stock Down 1.8 %

Shares of Etsy stock opened at $136.68 on Wednesday. The company has a market cap of $17.18 billion, a P/E ratio of -25.31, a PEG ratio of 5.97 and a beta of 1.80. The company has a debt-to-equity ratio of 4.10, a quick ratio of 2.72 and a current ratio of 2.72. Etsy has a one year low of $67.01 and a one year high of $163.84. The firm has a fifty day moving average of $126.65 and a two-hundred day moving average of $111.51.

Etsy (NASDAQ:ETSYGet Rating) last announced its quarterly earnings data on Wednesday, November 2nd. The specialty retailer reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.21. The company had revenue of $594.47 million during the quarter, compared to the consensus estimate of $560.19 million. Etsy had a negative net margin of 25.94% and a positive return on equity of 123.01%. On average, analysts forecast that Etsy will post -5.26 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Nicholas Daniel sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 17th. The shares were sold at an average price of $135.18, for a total value of $135,180.00. Following the sale, the insider now directly owns 3,309 shares of the company’s stock, valued at $447,310.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Nicholas Daniel sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 17th. The shares were sold at an average price of $135.18, for a total value of $135,180.00. Following the sale, the insider now directly owns 3,309 shares of the company’s stock, valued at $447,310.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Frederick R. Wilson sold 17,500 shares of the firm’s stock in a transaction that occurred on Monday, November 7th. The shares were sold at an average price of $98.43, for a total transaction of $1,722,525.00. Following the completion of the transaction, the director now owns 501,329 shares in the company, valued at approximately $49,345,813.47. The disclosure for this sale can be found here. Over the last three months, insiders have sold 238,382 shares of company stock valued at $27,362,911. Insiders own 3.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Lindbrook Capital LLC raised its holdings in Etsy by 72.2% in the fourth quarter. Lindbrook Capital LLC now owns 365 shares of the specialty retailer’s stock valued at $44,000 after buying an additional 153 shares during the period. Dock Street Asset Management Inc. raised its holdings in Etsy by 17.1% in the fourth quarter. Dock Street Asset Management Inc. now owns 28,304 shares of the specialty retailer’s stock valued at $3,390,000 after buying an additional 4,127 shares during the period. Sigma Planning Corp raised its stake in shares of Etsy by 17.2% during the fourth quarter. Sigma Planning Corp now owns 4,366 shares of the specialty retailer’s stock valued at $523,000 after purchasing an additional 640 shares during the period. Northstar Advisory Group LLC purchased a new stake in shares of Etsy during the fourth quarter valued at approximately $439,000. Finally, Empirical Finance LLC raised its stake in shares of Etsy by 21.5% during the fourth quarter. Empirical Finance LLC now owns 2,910 shares of the specialty retailer’s stock valued at $349,000 after purchasing an additional 514 shares during the period. Hedge funds and other institutional investors own 95.46% of the company’s stock.

Etsy Company Profile

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Etsy, Inc operates two-sided online marketplaces that connect buyers and sellers primarily in the United States, the United Kingdom, Germany, Canada, Australia, France, and India. 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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