Piper Sandler lifts Etsy Inc. [ETSY] price estimate. Who else is bullish?

Etsy Inc. [NASDAQ: ETSY] closed the trading session at $98.96 on 05/03/23. The day’s price range saw the stock hit a low of $98.06, while the highest price level was $102.31. The company report on May 3, 2023 at 4:05 PM that Etsy, Inc. Reports First Quarter 2023 Results.

Etsy, Inc. (NASDAQ: ETSY), which operates two-sided online marketplaces that connect millions of passionate and creative buyers and sellers around the world, today announced results for its first quarter ended March 31, 2023.

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“We are pleased that Etsy has once again delivered solid top and bottom line performance in the first quarter, maintaining the vast majority of our pandemic gains in the face of stiff macroeconomic headwinds,” said Josh Silverman, Etsy, Inc. Chief Executive Officer. “We’ve kicked off an exciting pipeline of product development and marketing initiatives to drive improved customer experiences and engagement in 2023. We believe that Etsy can be more relevant, more often, to many more millions of buyers around the world. So we’ll be focused on welcoming new buyers to the joy of Etsy, deepening buyer curiosity and engagement, instilling trust when transacting with us, and being the preferred platform for our sellers because we help them grow effectively and efficiently.”.

The stocks have a year to date performance of -17.38 percent and weekly performance of 1.22 percent. The stock has been moved at 5.38 percent over the last six months. The stock has performed -8.58 percent around the most recent 30 days and changed -29.10 percent over the most recent 3-months.

If compared to the average trading volume of 3.22M shares, ETSY reached to a volume of 6309154 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Etsy Inc. [ETSY]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ETSY shares is $131.25 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ETSY stock is a recommendation set at 2.40. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Piper Sandler have made an estimate for Etsy Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on April 04, 2023. While these analysts kept the previous recommendation, Jefferies raised their target price from $150 to $85. The new note on the price target was released on March 09, 2023, representing the official price target for Etsy Inc. stock. Previously, the target price had yet another raise from $125 to $150, while Oppenheimer kept a Outperform rating on ETSY stock.

The Average True Range (ATR) for Etsy Inc. is set at 3.98, with the Price to Sales ratio for ETSY stock in the period of the last 12 months amounting to 4.78. Price to Free Cash Flow for ETSY in the course of the last twelve months was 18.12 with Quick ratio for the last quarter at 2.40.

ETSY stock trade performance evaluation

Etsy Inc. [ETSY] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.22. With this latest performance, ETSY shares dropped by -8.58% in over the last four-week period, additionally plugging by 5.38% over the last 6 months – not to mention a rise of 1.95% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ETSY stock in for the last two-week period is set at 40.91, with the RSI for the last a single of trading hit 42.31, and the three-weeks RSI is set at 40.67 for Etsy Inc. [ETSY]. The present Moving Average for the last 50 days of trading for this stock 107.96, while it was recorded at 99.19 for the last single week of trading, and 113.69 for the last 200 days.

Etsy Inc. [ETSY]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Etsy Inc. [ETSY] shares currently have an operating margin of +15.17 and a Gross Margin at +70.98. Etsy Inc.’s Net Margin is presently recorded at -27.06.

Return on Total Capital for ETSY is now 15.73, given the latest momentum, and Return on Invested Capital for the company is -28.14. Return on Equity for this stock declined to -1,707.02, with Return on Assets sitting at -21.47. Additionally, ETSY Total Debt to Total Capital is recorded at 129.03, with Total Debt to Total Assets ending up at 92.31.

Reflecting on the efficiency of the workforce at the company, Etsy Inc. [ETSY] managed to generate an average of -$248,849 per employee. Receivables Turnover for the company is 10.08 with a Total Asset Turnover recorded at a value of 0.79.Etsy Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.40 and a Current Ratio set at 2.40.

Earnings per share (EPS) analysis for Etsy Inc. [ETSY] stock

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ETSY. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Etsy Inc. go to 16.00%.

Etsy Inc. [ETSY]: Insider Ownership positions

There are presently around $11,928 million, or 101.74% of ETSY stock, in the hands of institutional investors. The top three institutional holders of ETSY stocks are: VANGUARD GROUP INC with ownership of 13,892,541, which is approximately 0.424% of the company’s market cap and around 0.60% of the total institutional ownership; BLACKROCK INC., holding 11,464,130 shares of the stock with an approximate value of $1.13 billion in ETSY stocks shares; and WELLINGTON MANAGEMENT GROUP LLP, currently with $762.7 million in ETSY stock with ownership of nearly 16.226% of the company’s market capitalization.

Positions in Etsy Inc. stocks held by institutional investors increased at the end of Wednesday and at the time of the Wednesday reporting period, where 367 institutional holders increased their position in Etsy Inc. [NASDAQ:ETSY] by around 14,068,175 shares. Additionally, 355 investors decreased positions by around 12,272,093 shares, while 110 investors held positions by with 94,182,948 shares. The mentioned changes placed institutional holdings at 120,523,216 shares, according to the latest SEC report filing. ETSY stock had 108 new institutional investments in for a total of 1,708,449 shares, while 87 institutional investors sold positions of 2,312,723 shares during the same period.


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