Etsy (NASDAQ:ETSY) Price Target Raised to $50.00 at JPMorgan Chase & Co.

Etsy (NASDAQ:ETSY) had its price objective upped by JPMorgan Chase & Co. from $42.00 to $50.00 in a report published on Wednesday,Benzinga reports. They currently have a neutral rating on the specialty retailer’s stock.

A number of other brokerages have also recently commented on ETSY. Morgan Stanley decreased their price target on Etsy from $40.00 to $38.00 and set an “underweight” rating on the stock in a research report on Thursday, May 1st. Evercore ISI reduced their price objective on shares of Etsy from $60.00 to $54.00 and set an “outperform” rating on the stock in a research note on Thursday, May 1st. Barclays dropped their target price on shares of Etsy from $55.00 to $53.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 30th. Piper Sandler cut their price target on shares of Etsy from $52.00 to $40.00 and set a “neutral” rating for the company in a report on Friday, April 11th. Finally, Loop Capital decreased their price objective on shares of Etsy from $40.00 to $37.00 and set a “sell” rating on the stock in a research note on Thursday, May 1st. Four equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $50.50.

Etsy Stock Performance

Shares of Etsy stock opened at $63.81 on Wednesday. The firm has a fifty day moving average of $47.57 and a two-hundred day moving average of $51.02. The stock has a market capitalization of $6.65 billion, a price-to-earnings ratio of 26.92, a PEG ratio of 2.57 and a beta of 1.78. Etsy has a 52 week low of $40.05 and a 52 week high of $66.90.

Etsy (NASDAQ:ETSY) last issued its quarterly earnings results on Wednesday, April 30th. The specialty retailer reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.04). Etsy had a net margin of 10.80% and a negative return on equity of 46.62%. The company had revenue of $651.18 million during the quarter, compared to the consensus estimate of $642.22 million. The company’s quarterly revenue was up .8% on a year-over-year basis. During the same quarter last year, the firm posted $0.48 earnings per share. As a group, research analysts forecast that Etsy will post 2.57 EPS for the current fiscal year.

Insiders Place Their Bets

In other Etsy news, insider Nicholas Daniel sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $48.24, for a total value of $72,360.00. Following the transaction, the insider now directly owns 34,822 shares of the company’s stock, valued at approximately $1,679,813.28. The trade was a 4.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Josh Silverman sold 151,666 shares of the firm’s stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $57.68, for a total transaction of $8,748,094.88. Following the completion of the sale, the chief executive officer now owns 107,809 shares of the company’s stock, valued at $6,218,423.12. The trade was a 58.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 205,418 shares of company stock valued at $11,234,192 in the last ninety days. 2.60% of the stock is currently owned by insiders.

Institutional Trading of Etsy

Hedge funds and other institutional investors have recently bought and sold shares of the business. Lindbrook Capital LLC boosted its position in shares of Etsy by 55.7% during the fourth quarter. Lindbrook Capital LLC now owns 506 shares of the specialty retailer’s stock valued at $27,000 after buying an additional 181 shares during the last quarter. Larson Financial Group LLC lifted its stake in Etsy by 8.7% during the 4th quarter. Larson Financial Group LLC now owns 2,728 shares of the specialty retailer’s stock valued at $144,000 after acquiring an additional 218 shares in the last quarter. Allworth Financial LP boosted its holdings in Etsy by 47.6% during the 1st quarter. Allworth Financial LP now owns 769 shares of the specialty retailer’s stock worth $35,000 after acquiring an additional 248 shares during the last quarter. Heron Bay Capital Management boosted its holdings in Etsy by 1.3% during the 4th quarter. Heron Bay Capital Management now owns 20,260 shares of the specialty retailer’s stock worth $1,072,000 after acquiring an additional 258 shares during the last quarter. Finally, Denver PWM LLC grew its stake in shares of Etsy by 36.1% in the 4th quarter. Denver PWM LLC now owns 1,090 shares of the specialty retailer’s stock worth $58,000 after acquiring an additional 289 shares in the last quarter. Institutional investors own 99.53% of the company’s stock.

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.