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

Etsy (NASDAQ:ETSY) had its target price cut by stock analysts at Cantor Fitzgerald from $46.00 to $43.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the specialty retailer’s stock. Cantor Fitzgerald’s price target would indicate a potential downside of 15.29% from the stock’s previous close.

A number of other research firms have also recently commented on ETSY. Deutsche Bank Aktiengesellschaft cut Etsy to a “hold” rating and decreased their price target for the stock from $45.00 to $43.00 in a research note on Wednesday, February 12th. Barclays lowered their target price on Etsy from $60.00 to $55.00 and set an “equal weight” rating for the company in a research note on Thursday, October 31st. Citigroup increased their price target on Etsy from $54.00 to $56.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. Stifel Nicolaus lowered their price objective on Etsy from $64.00 to $56.00 and set a “hold” rating for the company in a research report on Monday, October 28th. Finally, Moffett Nathanson raised their target price on shares of Etsy from $60.00 to $61.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. 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 stock presently has a consensus rating of “Hold” and an average target price of $61.88.

Etsy Stock Performance

Shares of Etsy stock traded down $0.77 during trading hours on Thursday, hitting $50.76. The company’s stock had a trading volume of 920,709 shares, compared to its average volume of 3,184,353. The stock has a market cap of $5.71 billion, a price-to-earnings ratio of 25.84, a P/E/G ratio of 2.83 and a beta of 2.00. Etsy has a twelve month low of $47.10 and a twelve month high of $78.65. The firm has a fifty day moving average of $54.73 and a 200-day moving average of $53.83.

Etsy (NASDAQ:ETSY) last announced its 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 company had revenue of $852.16 million during the quarter, compared to analyst estimates of $861.37 million. Etsy had a net margin of 9.17% and a negative return on equity of 46.79%. Etsy’s revenue was up 1.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.62 earnings per share. On average, sell-side analysts expect that Etsy will post 2.25 earnings per share for the current fiscal year.

Etsy declared that its board has authorized a stock 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 purchase up to 17.8% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

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

Hedge Funds Weigh In On Etsy

A number of institutional investors have recently made changes to their positions in the stock. Blue Trust Inc. increased its position in Etsy by 106.5% during the 3rd quarter. Blue Trust Inc. now owns 448 shares of the specialty retailer’s stock worth $26,000 after purchasing an additional 231 shares in the last quarter. Lindbrook Capital LLC grew its holdings in shares of Etsy by 55.7% during the fourth quarter. Lindbrook Capital LLC now owns 506 shares of the specialty retailer’s stock worth $27,000 after buying an additional 181 shares in the last quarter. True Wealth Design LLC lifted its stake in shares of Etsy by 112.7% during the fourth quarter. True Wealth Design LLC now owns 551 shares of the specialty retailer’s stock valued at $29,000 after buying an additional 292 shares during the period. Hurley Capital LLC acquired a new stake in Etsy during the fourth quarter worth approximately $32,000. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in Etsy in the 4th quarter worth approximately $34,000. 99.53% of the stock is owned by institutional investors and hedge funds.

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.