Etsy (NASDAQ:ETSY) Price Target Cut to $51.00 by Analysts at Stifel Nicolaus

Etsy (NASDAQ:ETSY) had its target price reduced by stock analysts at Stifel Nicolaus from $56.00 to $51.00 in a report released on Thursday,Benzinga reports. The firm currently has a “hold” rating on the specialty retailer’s stock. Stifel Nicolaus’ target price would indicate a potential upside of 0.51% from the stock’s previous close.

A number of other research analysts also recently commented on ETSY. Raymond James lowered their target price on Etsy from $72.00 to $65.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $60.00 price target on shares of Etsy in a research report on Thursday. UBS Group reduced their price target on Etsy from $55.00 to $54.00 and set a “neutral” rating for the company in a research report on Thursday. Jefferies Financial Group raised Etsy from an “underperform” rating to a “hold” rating and boosted their price target for the stock from $45.00 to $55.00 in a research report on Monday, January 13th. Finally, Canaccord Genuity Group cut their price objective on Etsy from $105.00 to $76.00 and set a “buy” rating for the company in a research report on Thursday. Four research analysts have rated the stock with a sell rating, fourteen have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $60.42.

Etsy Trading Down 1.5 %

NASDAQ ETSY traded down $0.79 on Thursday, reaching $50.74. The stock had a trading volume of 2,910,184 shares, compared to its average volume of 3,242,498. The business has a 50 day moving average price of $54.73 and a 200 day moving average price of $53.83. Etsy has a 1 year low of $47.10 and a 1 year high of $78.65. The company has a market capitalization of $5.71 billion, a price-to-earnings ratio of 25.89, a P/E/G ratio of 2.83 and a beta of 2.00.

Etsy (NASDAQ:ETSY) last issued its earnings results on Wednesday, February 19th. The specialty retailer reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.08. Etsy had a negative return on equity of 46.79% and a net margin of 9.17%. The firm had revenue of $852.16 million for the quarter, compared to the consensus estimate of $861.37 million. During the same quarter in the previous year, the company posted $0.62 earnings per share. The business’s quarterly revenue was up 1.2% compared to the same quarter last year. On average, analysts anticipate that Etsy will post 2.25 earnings per share for the current fiscal year.

Etsy announced that its board has approved a share buyback program on Wednesday, October 30th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the specialty retailer to repurchase up to 17.8% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In related news, insider Nicholas Daniel sold 1,500 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $55.34, for a total transaction of $83,010.00. Following the sale, the insider now directly owns 22,198 shares in the company, valued at $1,228,437.32. This represents a 6.33 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Etsy by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 12,309,622 shares of the specialty retailer’s stock worth $651,056,000 after buying an additional 56,772 shares in the last quarter. Pacer Advisors Inc. lifted its stake in shares of Etsy by 183.9% in the 3rd quarter. Pacer Advisors Inc. now owns 5,961,952 shares of the specialty retailer’s stock valued at $331,067,000 after purchasing an additional 3,861,668 shares during the period. Renaissance Technologies LLC lifted its stake in shares of Etsy by 4.5% in the 4th quarter. Renaissance Technologies LLC now owns 5,421,641 shares of the specialty retailer’s stock valued at $286,751,000 after purchasing an additional 235,550 shares during the period. Van ECK Associates Corp lifted its stake in shares of Etsy by 17.4% in the 4th quarter. Van ECK Associates Corp now owns 3,527,742 shares of the specialty retailer’s stock valued at $186,583,000 after purchasing an additional 522,111 shares during the period. Finally, DAVENPORT & Co LLC lifted its stake in shares of Etsy by 12.1% in the 4th quarter. DAVENPORT & Co LLC now owns 1,748,008 shares of the specialty retailer’s stock valued at $92,452,000 after purchasing an additional 188,386 shares during the period. Institutional investors and hedge funds own 99.53% of the company’s stock.

About Etsy

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.