Truist Financial Increases Etsy (NASDAQ:ETSY) Price Target to $77.00

Etsy (NASDAQ:ETSY) had its price target upped by Truist Financial from $75.00 to $77.00 in a research note issued to investors on Friday, Benzinga reports. Truist Financial currently has a buy rating on the specialty retailer’s stock.

ETSY has been the subject of a number of other reports. BTIG Research decreased their target price on Etsy from $87.00 to $78.00 and set a buy rating for the company in a report on Thursday, May 2nd. Deutsche Bank Aktiengesellschaft decreased their price target on Etsy from $80.00 to $65.00 and set a hold rating for the company in a report on Wednesday, April 10th. Oppenheimer cut their target price on Etsy from $95.00 to $80.00 and set an outperform rating on the stock in a research report on Monday, April 29th. Needham & Company LLC cut their target price on Etsy from $95.00 to $75.00 and set a buy rating on the stock in a research report on Thursday, May 2nd. Finally, Loop Capital cut Etsy from a hold rating to a sell rating and cut their target price for the stock from $70.00 to $50.00 in a research report on Thursday, May 2nd. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Hold and a consensus price target of $78.75.

Etsy Stock Up 2.6 %

ETSY opened at $63.87 on Friday. Etsy has a 52 week low of $55.08 and a 52 week high of $102.81. The business has a fifty day simple moving average of $61.09 and a 200-day simple moving average of $66.15. The firm has a market cap of $7.47 billion, a P/E ratio of 29.16, a P/E/G ratio of 5.09 and a beta of 2.02.

Etsy (NASDAQ:ETSY) last released its earnings results on Wednesday, May 1st. The specialty retailer reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.01). The company had revenue of $646.00 million during the quarter, compared to analysts’ expectations of $646.30 million. Etsy had a net margin of 10.75% and a negative return on equity of 67.27%. The company’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter last year, the business posted $0.53 earnings per share. Sell-side analysts expect that Etsy will post 2.48 earnings per share for the current year.

Insider Buying and Selling at Etsy

In other Etsy news, insider Toni Thompson Nadal sold 1,444 shares of Etsy stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $65.68, for a total value of $94,841.92. Following the sale, the insider now owns 592 shares of the company’s stock, valued at approximately $38,882.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Etsy

Institutional investors have recently modified their holdings of the company. CVA Family Office LLC purchased a new stake in shares of Etsy during the 4th quarter worth approximately $27,000. Sunbelt Securities Inc. boosted its stake in shares of Etsy by 3,900.0% during 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 in the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Etsy by 402.2% during 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 in the last quarter. Larson Financial Group LLC boosted its stake in shares of Etsy by 1,576.5% during 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 in the last quarter. Finally, Principal Securities Inc. purchased a new stake in Etsy in the 4th quarter valued at approximately $47,000. 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.