Stocks of Etsy Inc. (NASDAQ:ETSY) traded higher last session on Wall Street, down -2.52% to $73.95.
According to the data, Etsy Inc. (NASDAQ:ETSY) has 31 analysts covering its stock. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $170.00 and a low of $46.00, we find $109.00. Given the previous closing price of $75.86, this indicates a potential upside of 43.69 percent. ETSY stock price is now -17.44% away from the 50-day moving average and -31.68% away from the 200-day moving average. The market capitalization of the company currently stands at $9.28B.
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A total of 14 analysts have issued a hold rating and 13 have given it a buy rating. Brokers who have rated the stock have averaged $110.79 as their price target over the next twelve months.
With the price target reduced from $120 to $105, Bernstein Downgraded its rating from Outperform to Mkt Perform for Etsy Inc. (NASDAQ: ETSY).
In other news, Silverman Josh, President & CEO sold 20,850 shares of the company’s stock on Aug 02. The stock was sold for $1,992,715 at an average price of $95.57. Upon completion of the transaction, the President & CEO now directly owns 14,674 shares in the company, valued at $1.09 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jul 21, Chief Product Officer Daniel Nicholas sold 1,760 shares of the business’s stock. A total of $178,904 was realized by selling the stock at an average price of $101.65. This leaves the insider owning 8,704 shares of the company worth $0.64 million. Insiders disposed of 751,261 shares of company stock worth roughly $55.56 million over the past 1 year. A total of 0.60% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in ETSY stock. A new stake in Etsy Inc. shares was purchased by POINT72 ASSET MANAGEMENT, L.P. during the first quarter worth $44,210,000. SCHONFELD STRATEGIC ADVISORS LLC invested $18,165,000 in shares of ETSY during the first quarter. In the first quarter, TWINBEECH CAPITAL LP acquired a new stake in Etsy Inc. valued at approximately $17,346,000. GTS SECURITIES LLC acquired a new stake in ETSY for approximately $13,924,000. DEEPWATER ASSET MANAGEMENT, LLC purchased a new stake in ETSY valued at around $10,226,000 in the second quarter. In total, there are 1,070 active investors with 101.54% ownership of the company’s stock.
Wednesday’s opening bell rang with an opening price of $75.14 for Etsy Inc. (NASDAQ: ETSY). During the past 12 months, Etsy Inc. has had a low of $75.68 and a high of $149.91. The fifty day moving average price for ETSY is $89.35 and a two-hundred day moving average price translates $108.10 for the stock.
The latest earnings results from Etsy Inc. (NASDAQ: ETSY) was released for Jun, 2023. According to the Internet Retail Company, earnings per share came in at $0.45, beating analysts’ expectations of $0.43 by 0.02. This compares to $0.50 EPS in the same period last year. The net profit margin was -26.80% and return on equity was 132.90% for ETSY. The company reported revenue of $628.88 million for the quarter, compared to $585.13 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 7.48 percent. For the current quarter, analysts expect ETSY to generate $633.74M in revenue.
Etsy Inc.(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, 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. In addition, it offers various seller services, including Etsy Payments, a payment processing service; Etsy Ads, an advertising platform; and Shipping Labels, which allows sellers in the United States, Canada, the United Kingdom, Australia, and India to purchase discounted shipping labels. Further, the company provides various seller tools, including Shop Manager dashboard, a centralized hub for Etsy sellers includes ability to manage inventory, check order status, receive notifications about repeat customers, add photos, listing videos, and purchase and print shipping labels. Additionally, it offers educational resources comprising blog posts, video tutorials, Etsy Seller Handbook, Etsy.com online forums, and insights; Etsy Teams, a platform to build personal relationships with other Etsy sellers; and a Star Seller program. As of December 31, 2022, it connected a total of 7.5 million active sellers to 95.1 million active buyers. The company was formerly known as Indieco, Inc changed its name to Etsy, Inc. in June 2006. Etsy, Inc. was founded in 2005 and is headquartered in Brooklyn, New York.
