Stifel Nicolaus Has Lowered Expectations for Etsy (NASDAQ:ETSY) Stock Price

Etsy (NASDAQ:ETSY) had its price target trimmed by Stifel Nicolaus from $51.00 to $45.00 in a research report released on Wednesday morning,Benzinga reports. The firm currently has a hold rating on the specialty retailer’s stock.

A number of other research analysts have also weighed in on the company. Citigroup decreased their target price on Etsy from $56.00 to $53.00 and set a “neutral” rating on the stock in a report on Thursday, February 20th. Piper Sandler dropped their price objective on shares of Etsy from $52.00 to $40.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. Jefferies Financial Group raised shares of Etsy from an “underperform” rating to a “hold” rating and lifted their target price for the stock from $45.00 to $55.00 in a report on Monday, January 13th. Bank of America lowered their price target on shares of Etsy from $55.00 to $50.00 and set a “neutral” rating on the stock in a report on Tuesday, April 8th. Finally, The Goldman Sachs Group reduced their price objective on Etsy from $45.00 to $35.00 and set a “sell” rating for the company in a report on Tuesday. Four research analysts have rated the stock with a sell rating, fifteen have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $55.75.

Etsy Trading Down 0.3 %

Shares of ETSY opened at $45.78 on Wednesday. The company’s fifty day simple moving average is $47.11 and its 200 day simple moving average is $51.38. Etsy has a 1-year low of $40.05 and a 1-year high of $71.72. The company has a market cap of $4.82 billion, a price-to-earnings ratio of 19.32, a PEG ratio of 2.57 and a beta of 2.15.

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

Insiders Place Their Bets

In other news, insider Toni Thompson Nadal sold 1,444 shares of the business’s stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $48.30, for a total transaction of $69,745.20. Following the completion of the transaction, the insider now owns 592 shares of the company’s stock, valued at approximately $28,593.60. The trade was a 70.92 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Merilee Buckley sold 1,676 shares of the firm’s stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $48.40, for a total value of $81,118.40. The disclosure for this sale can be found here. Insiders sold 50,952 shares of company stock worth $2,554,620 over the last three months. Insiders own 2.60% of the company’s stock.

Institutional Trading of Etsy

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Lindbrook Capital LLC boosted its holdings in shares of 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 acquiring an additional 181 shares in the last quarter. True Wealth Design LLC raised its position in Etsy by 112.7% in the fourth quarter. True Wealth Design LLC now owns 551 shares of the specialty retailer’s stock valued at $29,000 after purchasing an additional 292 shares during the last quarter. Hurley Capital LLC acquired a new stake in shares of Etsy during the fourth quarter valued at about $32,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of Etsy during the fourth quarter worth about $34,000. Finally, Summit Securities Group LLC acquired a new position in shares of Etsy in the fourth quarter valued at approximately $37,000. Institutional investors 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.