Evercore ISI Reiterates Outperform Rating for Etsy (NASDAQ:ETSY)

Etsy (NASDAQ:ETSY)‘s stock had its “outperform” rating reaffirmed by Evercore ISI in a report released on Tuesday, September 19th, Marketbeat reports. They currently have a $85.00 price objective on the specialty retailer’s stock, down from their previous price objective of $105.00. Evercore ISI’s price objective would suggest a potential upside of 31.33% from the stock’s previous close.

Other equities analysts also recently issued research reports about the company. UBS Group decreased their target price on Etsy from $120.00 to $105.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 19th. Loop Capital lowered their price objective on Etsy from $90.00 to $70.00 and set a “hold” rating on the stock in a research report on Monday, September 11th. Morgan Stanley reduced their target price on shares of Etsy from $74.00 to $72.00 and set an “equal weight” rating for the company in a research report on Thursday, August 3rd. DA Davidson lowered their price target on shares of Etsy from $166.00 to $157.00 and set a “buy” rating on the stock in a research report on Thursday, August 3rd. Finally, The Goldman Sachs Group decreased their target price on shares of Etsy from $130.00 to $110.00 and set a “buy” rating on the stock in a research report on Monday, July 17th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $113.08.

Etsy Price Performance

ETSY stock opened at $64.72 on Tuesday. Etsy has a one year low of $62.89 and a one year high of $149.91. The stock has a market cap of $7.96 billion, a price-to-earnings ratio of -11.03, a price-to-earnings-growth ratio of 3.24 and a beta of 2.03. The company has a fifty day moving average price of $78.10 and a two-hundred day moving average price of $89.58.

Etsy (NASDAQ:ETSY) last announced its earnings results on Wednesday, August 2nd. The specialty retailer reported $0.83 EPS for the quarter, topping the consensus estimate of $0.41 by $0.42. Etsy had a negative net margin of 26.84% and a negative return on equity of 69.10%. The business had revenue of $628.88 million during the quarter, compared to the consensus estimate of $621.87 million. Research analysts anticipate that Etsy will post 2.73 EPS for the current fiscal year.

Insider Buying and Selling at Etsy

In other news, insider Nicholas Daniel sold 1,760 shares of the company’s stock in a transaction that occurred on Friday, July 21st. The stock was sold at an average price of $101.65, for a total value of $178,904.00. Following the completion of the transaction, the insider now owns 8,704 shares of the company’s stock, valued at $884,761.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Etsy news, insider Nicholas Daniel sold 1,760 shares of Etsy stock in a transaction dated Friday, July 21st. The stock was sold at an average price of $101.65, for a total transaction of $178,904.00. Following the transaction, the insider now directly owns 8,704 shares of the company’s stock, valued at approximately $884,761.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Josh Silverman sold 10,425 shares of the stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $64.77, for a total value of $675,227.25. Following the completion of the sale, the chief executive officer now directly owns 14,674 shares of the company’s stock, valued at approximately $950,434.98. The disclosure for this sale can be found here. Over the last three months, insiders sold 75,573 shares of company stock worth $6,546,717. 2.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. ICA Group Wealth Management LLC bought a new stake in Etsy during the fourth quarter valued at $28,000. OLD Mission Capital LLC acquired a new position in shares of Etsy in the 4th quarter valued at about $25,000. CoreCap Advisors LLC bought a new stake in shares of Etsy during the 4th quarter valued at about $28,000. Spire Wealth Management grew its stake in Etsy by 184.1% during the first quarter. Spire Wealth Management now owns 233 shares of the specialty retailer’s stock worth $26,000 after purchasing an additional 151 shares during the period. Finally, Valley National Advisers Inc. increased its holdings in Etsy by 129.5% in the first quarter. Valley National Advisers Inc. now owns 257 shares of the specialty retailer’s stock worth $26,000 after purchasing an additional 145 shares in the last quarter. Institutional investors and hedge funds own 92.98% 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, France, and India. Its primary marketplace is Etsy.com that connects artisans and entrepreneurs with various consumers.