Needham & Company LLC Lowers Etsy (NASDAQ:ETSY) Price Target to $75.00

Etsy (NASDAQ:ETSY) had its price objective reduced by equities researchers at Needham & Company LLC from $95.00 to $75.00 in a research note issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the specialty retailer’s stock. Needham & Company LLC’s target price points to a potential upside of 7.54% from the stock’s current price.

A number of other analysts also recently issued reports on ETSY. Oppenheimer dropped their price objective on shares of Etsy from $95.00 to $80.00 and set an “outperform” rating for the company in a report on Monday. Truist Financial decreased their target price on shares of Etsy from $87.00 to $85.00 and set a “buy” rating on the stock in a research report on Thursday, February 22nd. Deutsche Bank Aktiengesellschaft reduced their price objective on Etsy from $80.00 to $65.00 and set a “hold” rating on the stock in a research note on Wednesday, April 10th. Wells Fargo & Company lowered their target price on Etsy from $62.00 to $60.00 and set an “underweight” rating for the company in a research note on Thursday, April 4th. Finally, UBS Group reduced their price target on Etsy from $75.00 to $72.00 and set a “neutral” rating on the stock in a research report on Thursday, February 22nd. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $82.38.

Etsy Trading Up 1.6 %

Etsy stock opened at $69.74 on Thursday. Etsy has a 1-year low of $58.20 and a 1-year high of $102.81. The firm has a market capitalization of $8.16 billion, a price-to-earnings ratio of 31.13, a P/E/G ratio of 4.81 and a beta of 2.00. The firm has a 50 day simple moving average of $68.42 and a 200 day simple moving average of $71.66.

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. Etsy had a net margin of 11.19% and a negative return on equity of 70.75%. The firm had revenue of $842.32 million during the quarter, compared to the consensus estimate of $827.40 million. On average, equities research analysts forecast that Etsy will post 2.56 EPS for the current year.

Insider Activity at Etsy

In other Etsy news, insider Nicholas Daniel sold 1,500 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $71.82, for a total value of $107,730.00. Following the completion of the transaction, the insider now owns 13,138 shares in the company, valued at $943,571.16. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Nicholas Daniel sold 1,500 shares of the business’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $71.82, for a total transaction of $107,730.00. Following the sale, the insider now owns 13,138 shares of the company’s stock, valued at $943,571.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Merilee Buckley sold 1,671 shares of the firm’s stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $65.04, for a total transaction of $108,681.84. Following the transaction, the chief accounting officer now directly owns 2,827 shares of the company’s stock, valued at approximately $183,868.08. The disclosure for this sale can be found here. Insiders have sold 66,968 shares of company stock worth $4,836,827 over the last ninety days. 2.60% of the stock is owned by corporate insiders.

Institutional Trading of Etsy

A number of hedge funds have recently made changes to their positions in ETSY. CVA Family Office LLC purchased a new position in Etsy in the 4th quarter worth approximately $27,000. Operose Advisors LLC purchased a new stake in Etsy during the 3rd quarter valued at $28,000. Sunbelt Securities Inc. raised its stake in Etsy by 3,900.0% during the 1st quarter. Sunbelt Securities Inc. now owns 440 shares of the specialty retailer’s stock valued at $30,000 after buying an additional 429 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in Etsy by 402.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 447 shares of the specialty retailer’s stock valued at $36,000 after buying an additional 358 shares during the last quarter. Finally, Tompkins Financial Corp purchased a new stake in shares of Etsy in the 4th quarter worth $41,000. 99.53% of the stock is owned by 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.