Oppenheimer Trims Etsy (NASDAQ:ETSY) Target Price to $80.00

Etsy (NASDAQ:ETSY) had its price target cut by investment analysts at Oppenheimer from $95.00 to $80.00 in a report issued on Monday, Benzinga reports. The firm currently has an “outperform” rating on the specialty retailer’s stock. Oppenheimer’s target price points to a potential upside of 18.64% from the stock’s previous close.

Several other research analysts have also recently weighed in on ETSY. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Etsy from $80.00 to $65.00 and set a “hold” rating on the stock in a research report on Wednesday, April 10th. Piper Sandler increased their price objective on Etsy from $90.00 to $103.00 and gave the stock an “overweight” rating in a report on Thursday, February 22nd. BTIG Research reduced their target price on Etsy from $90.00 to $87.00 and set a “buy” rating on the stock in a research note on Thursday, February 22nd. The Goldman Sachs Group lowered Etsy from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $84.00 to $80.00 in a research note on Wednesday, January 10th. Finally, Evercore ISI decreased their price objective on shares of Etsy from $95.00 to $90.00 and set an “outperform” rating for the company in a report on Thursday, February 22nd. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $84.04.

Etsy Trading Up 0.3 %

Shares of Etsy stock opened at $67.43 on Monday. The company’s 50-day moving average price is $68.72 and its 200-day moving average price is $71.60. The company has a market cap of $7.89 billion, a price-to-earnings ratio of 30.10, a PEG ratio of 4.69 and a beta of 2.01. Etsy has a 12-month low of $58.20 and a 12-month high of $102.81.

Etsy (NASDAQ:ETSY) last announced its quarterly earnings results on Wednesday, February 21st. The specialty retailer reported $0.78 EPS for the quarter, meeting the consensus estimate of $0.78. The firm had revenue of $842.32 million during the quarter, compared to the consensus estimate of $827.40 million. Etsy had a net margin of 11.19% and a negative return on equity of 70.75%. On average, sell-side analysts predict that Etsy will post 2.58 earnings per share for the current year.

Insider Activity at Etsy

In other news, CEO Josh Silverman sold 63,047 shares of Etsy stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $72.50, for a total value of $4,570,907.50. Following the completion of the sale, the chief executive officer now directly owns 23,140 shares in the company, valued at $1,677,650. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Etsy news, insider Nicholas Daniel sold 1,500 shares of the stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $71.82, for a total value of $107,730.00. Following the transaction, the insider now directly owns 13,138 shares in the company, valued at $943,571.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Josh Silverman sold 63,047 shares of the company’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $72.50, for a total value of $4,570,907.50. Following the completion of the sale, the chief executive officer now owns 23,140 shares of the company’s stock, valued at $1,677,650. The disclosure for this sale can be found here. Insiders have sold 66,968 shares of company stock valued at $4,836,827 over the last ninety days. Insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Etsy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Czech National Bank lifted its position in shares of Etsy by 47.2% in the third quarter. Czech National Bank now owns 21,500 shares of the specialty retailer’s stock valued at $1,388,000 after acquiring an additional 6,897 shares in the last quarter. Harbor Capital Advisors Inc. grew its position in shares of Etsy by 8.2% during the third quarter. Harbor Capital Advisors Inc. now owns 5,993 shares of the specialty retailer’s stock valued at $387,000 after purchasing an additional 456 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its holdings in shares of Etsy by 27.8% in the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 45,100 shares of the specialty retailer’s stock worth $2,913,000 after purchasing an additional 9,800 shares during the last quarter. Xponance Inc. boosted its stake in Etsy by 8.1% during the third quarter. Xponance Inc. now owns 25,867 shares of the specialty retailer’s stock valued at $1,670,000 after buying an additional 1,946 shares during the last quarter. Finally, Raymond James & Associates grew its holdings in Etsy by 2.0% during the 3rd quarter. Raymond James & Associates now owns 110,563 shares of the specialty retailer’s stock valued at $7,140,000 after buying an additional 2,204 shares in the last quarter. 99.53% of the stock is owned by hedge funds and other institutional investors.

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.