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

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

Several other brokerages have also recently commented on ETSY. Morgan Stanley reiterated an “underweight” rating and issued a $55.00 target price (down from $65.00) on shares of Etsy in a report on Thursday, April 18th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Etsy from $80.00 to $65.00 and set a “hold” rating for the company in a research report on Wednesday, April 10th. Truist Financial reduced their price target on shares of Etsy from $87.00 to $85.00 and set a “buy” rating for the company in a research report on Thursday, February 22nd. The Goldman Sachs Group lowered shares of Etsy from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $84.00 to $80.00 in a research report on Wednesday, January 10th. Finally, UBS Group reduced their price target on shares of Etsy from $75.00 to $72.00 and set a “neutral” rating for the company in a research report on Thursday, February 22nd. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $82.38.

Etsy Trading Up 1.6 %

NASDAQ:ETSY opened at $69.74 on Thursday. Etsy has a twelve month low of $58.20 and a twelve month high of $102.81. The company has a 50-day moving average of $68.42 and a 200-day moving average of $71.66. The firm has a market cap of $8.16 billion, a price-to-earnings ratio of 31.13, a price-to-earnings-growth ratio of 4.81 and a beta of 2.00.

Etsy (NASDAQ:ETSY) last announced its earnings results on Wednesday, February 21st. The specialty retailer reported $0.78 EPS for the quarter, hitting the consensus estimate of $0.78. Etsy had a net margin of 11.19% and a negative return on equity of 70.75%. The company had revenue of $842.32 million during the quarter, compared to analysts’ expectations of $827.40 million. On average, research analysts forecast that Etsy will post 2.56 earnings per share for the current year.

Insider Activity

In other news, CAO Merilee Buckley sold 1,671 shares of Etsy stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $65.04, for a total value of $108,681.84. Following the transaction, the chief accounting officer now owns 2,827 shares of the company’s stock, valued at $183,868.08. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, insider Nicholas Daniel sold 750 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $66.01, for a total value of $49,507.50. Following the sale, the insider now owns 19,682 shares in the company, valued at $1,299,208.82. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Merilee Buckley sold 1,671 shares of the firm’s stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $65.04, for a total transaction of $108,681.84. Following the completion of the sale, the chief accounting officer now owns 2,827 shares in the company, valued at approximately $183,868.08. The disclosure for this sale can be found here. Insiders have sold a total of 66,968 shares of company stock valued at $4,836,827 over the last 90 days. 2.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Etsy

A number of institutional investors have recently bought and sold shares of the business. Capital International Investors boosted its stake in Etsy by 0.6% during the fourth quarter. Capital International Investors now owns 8,175,260 shares of the specialty retailer’s stock worth $662,605,000 after buying an additional 45,305 shares in the last quarter. Van ECK Associates Corp boosted its stake in Etsy by 9.2% during the first quarter. Van ECK Associates Corp now owns 5,042,610 shares of the specialty retailer’s stock worth $346,528,000 after buying an additional 425,620 shares in the last quarter. Bares Capital Management Inc. boosted its stake in Etsy by 0.9% during the fourth quarter. Bares Capital Management Inc. now owns 4,080,338 shares of the specialty retailer’s stock worth $330,711,000 after buying an additional 36,623 shares in the last quarter. Artisan Partners Limited Partnership boosted its stake in Etsy by 2.0% during the fourth quarter. Artisan Partners Limited Partnership now owns 1,555,432 shares of the specialty retailer’s stock worth $126,068,000 after buying an additional 30,561 shares in the last quarter. Finally, TD Asset Management Inc boosted its stake in Etsy by 260.2% during the fourth quarter. TD Asset Management Inc now owns 1,319,190 shares of the specialty retailer’s stock worth $106,920,000 after buying an additional 952,907 shares in the last quarter. Institutional investors and hedge funds 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.