Etsy (NASDAQ:ETSY) Given New $43.00 Price Target at Cantor Fitzgerald

Etsy (NASDAQ:ETSY) had its price target reduced by Cantor Fitzgerald from $46.00 to $43.00 in a research note released on Thursday,Benzinga reports. Cantor Fitzgerald currently has a neutral rating on the specialty retailer’s stock. Cantor Fitzgerald also issued estimates for Etsy’s FY2025 earnings at $2.59 EPS.

Other research analysts also recently issued research reports about the company. Stifel Nicolaus lowered their target price on Etsy from $64.00 to $56.00 and set a “hold” rating on the stock in a report on Monday, October 28th. JMP Securities restated a “market perform” rating on shares of Etsy in a research note on Monday, December 16th. Barclays lowered their price target on Etsy from $60.00 to $55.00 and set an “equal weight” rating on the stock in a report on Thursday, October 31st. UBS Group dropped their price objective on shares of Etsy from $55.00 to $54.00 and set a “neutral” rating for the company in a report on Thursday. Finally, Jefferies Financial Group raised shares of Etsy from an “underperform” rating to a “hold” rating and raised their target price for the company from $45.00 to $55.00 in a report on Monday, January 13th. Four equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $58.78.

Etsy Trading Down 0.3 %

NASDAQ ETSY opened at $51.26 on Thursday. The stock has a market cap of $5.49 billion, a P/E ratio of 21.63, a P/E/G ratio of 2.57 and a beta of 2.00. The stock’s fifty day moving average price is $54.43 and its 200-day moving average price is $53.78. Etsy has a 12 month low of $47.10 and a 12 month high of $74.82.

Etsy (NASDAQ:ETSY) last posted its quarterly earnings results on Wednesday, February 19th. The specialty retailer reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.08. The firm had revenue of $852.16 million during the quarter, compared to analysts’ expectations of $861.37 million. Etsy had a negative return on equity of 46.62% and a net margin of 10.80%. The company’s revenue was up 1.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.62 earnings per share. As a group, analysts forecast that Etsy will post 2.57 earnings per share for the current fiscal year.

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

Insiders Place Their Bets

In other Etsy news, insider Nicholas Daniel sold 1,500 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $55.34, for a total transaction of $83,010.00. Following the transaction, the insider now owns 22,198 shares of the company’s stock, valued at approximately $1,228,437.32. This trade represents a 6.33 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.60% of the stock is currently owned by company insiders.

Institutional Trading of Etsy

Hedge funds have recently bought and sold shares of the stock. Blue Trust Inc. grew its stake in 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 purchasing an additional 231 shares during the last quarter. Lindbrook Capital LLC increased its stake in Etsy by 55.7% during the 4th quarter. Lindbrook Capital LLC now owns 506 shares of the specialty retailer’s stock valued at $27,000 after purchasing an additional 181 shares in the last quarter. True Wealth Design LLC increased its position in shares of Etsy by 112.7% in the 4th quarter. True Wealth Design LLC now owns 551 shares of the specialty retailer’s stock valued at $29,000 after acquiring an additional 292 shares during the period. Hurley Capital LLC acquired a new position in shares of Etsy in the fourth quarter valued at about $32,000. Finally, Strategic Investment Solutions Inc. IL purchased a new position in Etsy during the 4th quarter worth approximately $34,000. Hedge funds and other institutional investors 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.