Etsy (NYSE:ETSY) Trading Down 3.8% – Here’s What Happened

Shares of Etsy Inc (NYSE:ETSY) were down 3.8% during mid-day trading on Thursday . The stock traded as low as $51.02 and last traded at $51.81. Approximately 1,021,451 shares changed hands during trading, a decline of 79% from the average daily volume of 4,953,364 shares. The stock had previously closed at $53.83.

Analysts Set New Price Targets

A number of research firms have recently issued reports on ETSY. BNP Paribas upgraded Etsy to a “hold” rating in a report on Monday, November 24th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Etsy in a research note on Monday. Evercore ISI cut shares of Etsy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 30th. Zacks Research downgraded shares of Etsy from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 10th. Finally, Wall Street Zen raised shares of Etsy from a “hold” rating to a “buy” rating in a research note on Friday, November 28th. Four research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock has an average rating of “Hold”.

Etsy Price Performance

The company has a market capitalization of $5.26 billion, a P/E ratio of 37.52, a P/E/G ratio of 6.68 and a beta of 1.76.

About Etsy

Etsy, Inc operates two-sided online marketplaces that connect buyers and sellers primarily in the United States, the United Kingdom, Germany, Canada, Australia, France, and India. 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.