Cantor Fitzgerald Cuts Etsy (NASDAQ:ETSY) Price Target to $43.00

Etsy (NASDAQ:ETSY) had its price objective reduced by Cantor Fitzgerald from $46.00 to $43.00 in a report issued 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.

ETSY has been the subject of several other research reports. Morgan Stanley decreased their price target on Etsy from $47.00 to $45.00 and set an “underweight” rating for the company in a report on Monday, January 13th. Moffett Nathanson increased 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. Jefferies Financial Group upgraded shares of Etsy from an “underperform” rating to a “hold” rating and boosted their price target for the stock from $45.00 to $55.00 in a report on Monday, January 13th. Stifel Nicolaus dropped their target price on shares of Etsy from $64.00 to $56.00 and set a “hold” rating on the stock in a research report on Monday, October 28th. Finally, Citigroup boosted their target price on Etsy from $54.00 to $56.00 and gave the stock a “neutral” rating in a research note on Friday, February 14th. Four equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $58.78.

Etsy Trading Down 0.3 %

ETSY opened at $51.26 on Thursday. The company has a market cap of $5.49 billion, a price-to-earnings ratio of 21.63, a PEG ratio of 2.57 and a beta of 2.00. The company’s fifty day moving average price is $54.43 and its two-hundred day moving average price is $53.78. Etsy has a 1-year low of $47.10 and a 1-year high of $74.82.

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

Etsy declared that its board has authorized a share repurchase plan on Wednesday, October 30th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the specialty retailer to purchase up to 17.8% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling at Etsy

In related news, insider Nicholas Daniel sold 1,500 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $55.34, for a total transaction of $83,010.00. Following the sale, the insider now directly owns 22,198 shares in the company, valued at approximately $1,228,437.32. The trade was a 6.33 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Etsy

Hedge funds and other institutional investors have recently modified their holdings of the stock. Pacer Advisors Inc. boosted its holdings in Etsy by 183.9% in the 3rd quarter. Pacer Advisors Inc. now owns 5,961,952 shares of the specialty retailer’s stock valued at $331,067,000 after purchasing an additional 3,861,668 shares during the period. Norges Bank purchased a new stake in Etsy during the 4th quarter valued at about $74,235,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Etsy during the third quarter valued at approximately $55,530,000. Holocene Advisors LP bought a new stake in Etsy in the 3rd quarter worth $49,061,000. Finally, Assenagon Asset Management S.A. grew its stake in shares of Etsy by 132.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,490,399 shares of the specialty retailer’s stock worth $78,827,000 after purchasing an additional 850,520 shares during the last quarter. 99.53% of the stock is currently owned by institutional investors.

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.