Barclays Issues Pessimistic Forecast for Etsy (NASDAQ:ETSY) Stock Price

Etsy (NASDAQ:ETSY) had its target price trimmed by Barclays from $60.00 to $55.00 in a research report report published on Thursday morning, Benzinga reports. The firm currently has an equal weight rating on the specialty retailer’s stock.

A number of other brokerages also recently issued reports on ETSY. Wells Fargo & Company lowered their price target on Etsy from $58.00 to $47.00 and set an “underweight” rating on the stock in a research report on Thursday, October 3rd. Cantor Fitzgerald reissued a “neutral” rating and set a $50.00 target price on shares of Etsy in a report on Monday, October 7th. Wolfe Research assumed coverage on Etsy in a report on Tuesday, July 16th. They set a “peer perform” rating for the company. Loop Capital reduced their target price on Etsy from $50.00 to $45.00 and set a “sell” rating for the company in a report on Monday, August 12th. Finally, Truist Financial reissued a “buy” rating and set a $76.00 target price on shares of Etsy in a report on Tuesday, September 24th. Four equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $64.87.

Etsy Stock Up 2.6 %

Shares of ETSY opened at $52.77 on Thursday. Etsy has a 52 week low of $47.10 and a 52 week high of $89.58. The company has a market capitalization of $6.06 billion, a price-to-earnings ratio of 26.92, a PEG ratio of 5.94 and a beta of 1.99. The stock’s 50-day moving average price is $52.60 and its 200-day moving average price is $58.15.

Etsy (NASDAQ:ETSY) last issued its earnings results on Wednesday, October 30th. The specialty retailer reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.09). Etsy had a negative return on equity of 46.79% and a net margin of 9.17%. The company had revenue of $662.40 million during the quarter, compared to analysts’ expectations of $652.47 million. During the same quarter in the previous year, the company earned $0.64 EPS. The firm’s quarterly revenue was up 4.1% compared to the same quarter last year. As a group, equities analysts anticipate that Etsy will post 2.3 EPS for the current fiscal year.

Etsy announced that its board has approved a share buyback plan on Wednesday, October 30th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the specialty retailer to buy up to 17.8% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at Etsy

In other Etsy news, CAO Merilee Buckley sold 1,676 shares of Etsy stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $51.11, for a total value of $85,660.36. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Etsy news, insider Nicholas Daniel sold 750 shares of Etsy stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $55.40, for a total value of $41,550.00. Following the sale, the insider now owns 18,083 shares in the company, valued at $1,001,798.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Merilee Buckley sold 1,676 shares of Etsy stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $51.11, for a total value of $85,660.36. The disclosure for this sale can be found here. Insiders have sold 4,619 shares of company stock worth $240,825 over the last quarter. 2.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Etsy

A number of institutional investors have recently modified their holdings of ETSY. Blue Trust Inc. grew its stake in shares of Etsy by 106.5% in the third quarter. Blue Trust Inc. now owns 448 shares of the specialty retailer’s stock valued at $26,000 after buying an additional 231 shares in the last quarter. UMB Bank n.a. grew its stake in shares of Etsy by 112.3% in the third quarter. UMB Bank n.a. now owns 552 shares of the specialty retailer’s stock valued at $31,000 after buying an additional 292 shares in the last quarter. Larson Financial Group LLC grew its stake in shares of Etsy by 1,576.5% in the first quarter. Larson Financial Group LLC now owns 570 shares of the specialty retailer’s stock valued at $39,000 after buying an additional 536 shares in the last quarter. 1620 Investment Advisors Inc. acquired a new stake in shares of Etsy in the second quarter valued at $42,000. Finally, Capital Performance Advisors LLP acquired a new stake in shares of Etsy in the third quarter valued at $43,000. 99.53% of the stock is owned by institutional investors and hedge funds.

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.