Brokerages Set Etsy, Inc. (NASDAQ:ETSY) Target Price at $222.50

Etsy, Inc. (NASDAQ:ETSY) has been given an average rating of “Buy” by the twenty-two analysts that are currently covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation and sixteen have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $223.64.

Several analysts have weighed in on the company. Zacks Investment Research raised Etsy from a “sell” rating to a “hold” rating and set a $190.00 target price on the stock in a research note on Monday, August 9th. BTIG Research reiterated a “buy” rating and set a $215.00 price target on shares of Etsy in a research report on Tuesday, June 29th. Oppenheimer lifted their price target on Etsy from $200.00 to $225.00 and gave the company an “outperform” rating in a research report on Monday, July 12th. Truist Securities lifted their price target on Etsy from $215.00 to $217.00 and gave the company a “buy” rating in a research report on Wednesday, June 16th. Finally, Stifel Nicolaus lifted their price target on Etsy from $205.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday.

Shares of Etsy stock opened at $214.31 on Friday. The business’s fifty day moving average price is $199.58 and its two-hundred day moving average price is $194.76. The company has a debt-to-equity ratio of 4.36, a current ratio of 6.61 and a quick ratio of 6.61. The company has a market capitalization of $27.13 billion, a P/E ratio of 61.94, a PEG ratio of 3.71 and a beta of 1.62. Etsy has a 1-year low of $104.30 and a 1-year high of $251.86.

Etsy (NASDAQ:ETSY) last announced its earnings results on Wednesday, August 4th. The specialty retailer reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.04. The firm had revenue of $528.90 million for the quarter, compared to the consensus estimate of $525.70 million. Etsy had a return on equity of 73.54% and a net margin of 22.45%. The firm’s revenue for the quarter was up 23.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.75 EPS. On average, research analysts expect that Etsy will post 2.97 earnings per share for the current fiscal year.

In related news, CFO Rachel C. Glaser sold 13,500 shares of Etsy stock in a transaction on Thursday, July 1st. The stock was sold at an average price of $200.77, for a total transaction of $2,710,395.00. Following the completion of the sale, the chief financial officer now owns 34,436 shares of the company’s stock, valued at $6,913,715.72. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Goyal Kruti Patel sold 6,800 shares of Etsy stock in a transaction on Thursday, July 1st. The shares were sold at an average price of $200.63, for a total value of $1,364,284.00. Following the sale, the insider now directly owns 39,121 shares of the company’s stock, valued at approximately $7,848,846.23. The disclosure for this sale can be found here. Insiders have sold 37,400 shares of company stock worth $7,455,878 in the last quarter. 3.30% of the stock is currently owned by corporate insiders.

Several large investors have recently made changes to their positions in ETSY. Corsicana & Co. acquired a new stake in shares of Etsy in the second quarter worth about $25,000. Harbour Investments Inc. acquired a new stake in shares of Etsy in the first quarter worth about $28,000. Allred Capital Management LLC acquired a new stake in shares of Etsy in the first quarter worth about $32,000. BerganKDV Wealth Management LLC increased its stake in shares of Etsy by 100.0% in the second quarter. BerganKDV Wealth Management LLC now owns 200 shares of the specialty retailer’s stock worth $41,000 after purchasing an additional 100 shares during the period. Finally, E Fund Management Co. Ltd. bought a new position in shares of Etsy in the first quarter worth about $45,000. 87.30% of the stock is owned by institutional investors.

Etsy Company Profile

Etsy, Inc engages in the operation of online marketplace. It offers handmade products such as shoes, clothing, bags, and accessories. It operates through the following geographical segments: United States, United Kingdom, and Other International. The company was founded by Haim Schoppik, Robert Kalin, Jared Tarbell, and Christopher Maguires in 2005 and is headquartered in New York, NY.

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Analyst Recommendations for Etsy (NASDAQ:ETSY)

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