Etsy (NYSE:ETSY) Given New $78.00 Price Target at BTIG Research

Etsy (NYSE:ETSY) had its target price raised by BTIG Research from $65.00 to $78.00 in a research report report published on Wednesday,Benzinga reports. BTIG Research currently has a buy rating on the stock.

Other equities analysts also recently issued research reports about the stock. Wall Street Zen raised shares of Etsy from a “hold” rating to a “buy” rating in a report on Saturday, April 11th. Jefferies Financial Group decreased their price target on Etsy from $62.00 to $55.00 and set a “hold” rating for the company in a research note on Thursday, February 12th. Citigroup reaffirmed a “buy” rating on shares of Etsy in a report on Tuesday, December 30th. Barclays raised shares of Etsy from an “equal weight” rating to an “overweight” rating and set a $72.00 price objective for the company in a research note on Thursday, February 19th. Finally, Cantor Fitzgerald increased their price objective on Etsy from $51.00 to $59.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eighteen have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, Etsy currently has an average rating of “Hold” and a consensus target price of $63.33.

Etsy Price Performance

NYSE:ETSY opened at $69.58 on Wednesday. The company’s 50 day moving average is $55.16. The company has a market capitalization of $6.60 billion, a price-to-earnings ratio of 53.11, a PEG ratio of 9.90 and a beta of 1.77. Etsy has a 52 week low of $41.51 and a 52 week high of $76.51.

Etsy (NYSE:ETSY) last announced its quarterly earnings results on Wednesday, April 29th. The company reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.02). Etsy had a negative return on equity of 24.94% and a net margin of 5.65%.The company had revenue of $631.28 million during the quarter, compared to the consensus estimate of $622.39 million. During the same period last year, the business posted ($0.49) EPS. The company’s revenue for the quarter was up 3.1% on a year-over-year basis. On average, sell-side analysts forecast that Etsy will post 3.12 EPS for the current fiscal year.

Insider Transactions at Etsy

In related news, Director Charles Andrew Ballard sold 1,790 shares of the company’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $55.74, for a total value of $99,774.60. Following the completion of the transaction, the director directly owned 4,006 shares in the company, valued at approximately $223,294.44. This represents a 30.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Josh Silverman sold 70,000 shares of the firm’s stock in a transaction dated Tuesday, April 21st. The stock was sold at an average price of $65.00, for a total transaction of $4,550,000.00. Following the transaction, the insider owned 130,694 shares of the company’s stock, valued at approximately $8,495,110. This represents a 34.88% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 168,636 shares of company stock worth $10,253,703. 2.80% of the stock is currently owned by company insiders.

Institutional Trading of Etsy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. EFG International AG bought a new position in Etsy during the 4th quarter worth approximately $33,000. Salomon & Ludwin LLC acquired a new stake in shares of Etsy in the 3rd quarter valued at about $55,000. SJS Investment Consulting Inc. grew its stake in shares of Etsy by 12,600.0% during the 3rd quarter. SJS Investment Consulting Inc. now owns 762 shares of the company’s stock worth $51,000 after acquiring an additional 756 shares in the last quarter. Abich Financial Wealth Management LLC acquired a new stake in shares of Etsy in the third quarter valued at about $51,000. Finally, Danske Bank A S acquired a new position in shares of Etsy during the 3rd quarter worth approximately $66,000. 99.53% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting Etsy

Here are the key news stories impacting Etsy this week:

• Positive Sentiment: Etsy reported Q1 revenue and marketplace strength that outpaced expectations — management flagged improving gross merchandise sales and buyer activity, which markets interpreted as a return to growth. Read More.
• Positive Sentiment: Market reaction also reflected headline Q1 coverage noting revenue and EPS beats on an adjusted basis and an improved outlook from management; that drove an early intraday pop. Read More.
• Positive Sentiment: BTIG raised its price target to $78 and reiterated a Buy rating, giving analysts’ endorsement that supported the rally. Read More.
• Positive Sentiment: Other sell?side support preceded the print (UBS nudged its target higher), adding to upward momentum as analysts re?price shares on signs of recovery. Read More.
• Positive Sentiment: Management highlighted product work — including AI features to improve discovery and bring back shoppers — which investors view as a practical lever to sustain marketplace momentum. Read More.
• Neutral Sentiment: Earnings call transcript and summaries are available for deeper reads on metrics and guidance; these are useful for investors who want to parse GMV, take?rates, marketing spend and margin trajectory. Read More.
• Negative Sentiment: There are mixed accounting signals: some outlets report adjusted EPS beat while GAAP EPS and certain consensus comparisons were weaker or below some estimates, and investors should watch margin and return?on?equity metrics as the company reaccelerates growth. Read More.

About Etsy

Etsy, Inc operates two-sided online marketplaces that connect buyers and sellers primarily 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.