B. Riley Lowers Etsy (NASDAQ:ETSY) Price Target to $83.00

Etsy (NASDAQ:ETSY) had its target price lowered by B. Riley from $91.00 to $83.00 in a research note issued to investors on Thursday morning, Benzinga reports. The brokerage currently has a buy rating on the specialty retailer’s stock. B. Riley also issued estimates for Etsy’s FY2024 earnings at $2.80 EPS, FY2025 earnings at $3.53 EPS, FY2026 earnings at $4.31 EPS, FY2027 earnings at $5.19 EPS and FY2028 earnings at $6.11 EPS.

Several other equities research analysts have also recently commented on ETSY. Evercore ISI dropped their price objective on Etsy from $95.00 to $90.00 and set an outperform rating on the stock in a research report on Thursday, February 22nd. Deutsche Bank Aktiengesellschaft dropped their price objective on Etsy from $80.00 to $65.00 and set a hold rating on the stock in a research report on Wednesday, April 10th. BTIG Research dropped their price objective on Etsy from $87.00 to $78.00 and set a buy rating on the stock in a research report on Thursday. Needham & Company LLC dropped their price objective on Etsy from $95.00 to $75.00 and set a buy rating on the stock in a research report on Thursday. Finally, Barclays dropped their price objective on Etsy from $67.00 to $60.00 and set an equal weight rating on the stock in a research report on Thursday. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus target price of $79.96.

Etsy Stock Up 1.2 %

Shares of NASDAQ ETSY traded up $0.73 during trading on Thursday, reaching $59.97. The company had a trading volume of 5,617,654 shares, compared to its average volume of 3,661,918. Etsy has a 12-month low of $56.60 and a 12-month high of $102.81. The stock has a market cap of $7.02 billion, a PE ratio of 27.38, a P/E/G ratio of 4.16 and a beta of 2.00. The business’s 50-day moving average is $67.77 and its 200 day moving average is $71.52.

Etsy (NASDAQ:ETSY) last released its earnings results on Wednesday, May 1st. The specialty retailer reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.01). Etsy had a negative return on equity of 67.27% and a net margin of 10.75%. The company had revenue of $646.00 million during the quarter, compared to analysts’ expectations of $646.30 million. During the same period in the prior year, the company posted $0.53 earnings per share. The company’s revenue was up .8% on a year-over-year basis. On average, analysts anticipate that Etsy will post 2.55 earnings per share for the current year.

Insider Transactions at Etsy

In related news, insider Nicholas Daniel sold 1,500 shares of the stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $71.82, for a total transaction of $107,730.00. Following the completion of the sale, the insider now owns 13,138 shares in the company, valued at $943,571.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Nicholas Daniel sold 1,500 shares of the stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $71.82, for a total transaction of $107,730.00. Following the completion of the sale, the insider now owns 13,138 shares in the company, valued at $943,571.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Josh Silverman sold 63,047 shares of the stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $72.50, for a total value of $4,570,907.50. Following the sale, the chief executive officer now owns 23,140 shares of the company’s stock, valued at approximately $1,677,650. The disclosure for this sale can be found here. Insiders have sold 66,968 shares of company stock valued at $4,836,827 over the last quarter. 2.60% of the stock is currently owned by company insiders.

Institutional Trading of Etsy

Institutional investors have recently made changes to their positions in the business. CVA Family Office LLC purchased a new stake in shares of Etsy during the fourth quarter worth about $27,000. Operose Advisors LLC bought a new stake in Etsy in the 3rd quarter worth approximately $28,000. Sunbelt Securities Inc. increased its stake in Etsy by 3,900.0% in the 1st quarter. Sunbelt Securities Inc. now owns 440 shares of the specialty retailer’s stock worth $30,000 after acquiring an additional 429 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in Etsy by 402.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 447 shares of the specialty retailer’s stock worth $36,000 after acquiring an additional 358 shares during the last quarter. Finally, Larson Financial Group LLC increased its stake in Etsy by 1,576.5% in the 1st quarter. Larson Financial Group LLC now owns 570 shares of the specialty retailer’s stock worth $39,000 after acquiring an additional 536 shares during the last quarter. 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.