Fintel reports that on July 11, 2023, JMP Securities reiterated coverage of Etsy (NASDAQ:ETSY) with a Market Outperform recommendation.
Analyst Price Forecast Suggests 39.02% Upside
As of July 6, 2023, the average one-year price target for Etsy is 119.32. The forecasts range from a low of 46.46 to a high of $195.30. The average price target represents an increase of 39.02% from its latest reported closing price of 85.83.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Etsy is 2,783MM, an increase of 5.91%. The projected annual non-GAAP EPS is 2.89.
What is the Fund Sentiment?
There are 1513 funds or institutions reporting positions in Etsy. This is a decrease of 37 owner(s) or 2.39% in the last quarter. Average portfolio weight of all funds dedicated to ETSY is 0.24%, a decrease of 19.62%. Total shares owned by institutions increased in the last three months by 2.21% to 147,872K shares. 
The put/call ratio of ETSY is 0.79, indicating a bullish outlook.
What are Other Shareholders Doing?
Wellington Management Group Llp holds 7,347K shares representing 5.96% ownership of the company. In it's prior filing, the firm reported owning 7,707K shares, representing a decrease of 4.89%. The firm decreased its portfolio allocation in ETSY by 12.43% over the last quarter.
Capital International Investors holds 6,606K shares representing 5.36% ownership of the company. In it's prior filing, the firm reported owning 6,346K shares, representing an increase of 3.94%. The firm decreased its portfolio allocation in ETSY by 7.27% over the last quarter.
Jpmorgan Chase holds 4,694K shares representing 3.81% ownership of the company. In it's prior filing, the firm reported owning 1,045K shares, representing an increase of 77.74%. The firm increased its portfolio allocation in ETSY by 285.90% over the last quarter.
Alliancebernstein holds 4,336K shares representing 3.51% ownership of the company. In it's prior filing, the firm reported owning 4,215K shares, representing an increase of 2.80%. The firm decreased its portfolio allocation in ETSY by 22.96% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 3,858K shares representing 3.13% ownership of the company. In it's prior filing, the firm reported owning 3,817K shares, representing an increase of 1.06%. The firm decreased its portfolio allocation in ETSY by 13.25% over the last quarter.
Etsy Background Information
(This description is provided by the company.)
Etsy, Inc. operates two-sided online marketplaces that connect millions of passionate and creative buyers and sellers around the world. Our primary marketplace, Etsy.com, is the global destination for unique and creative goods. Buyers come to Etsy to be inspired and delighted by items that are crafted and curated by creative entrepreneurs. For sellers, we offer a range of tools and services that address key business needs. In addition, Etsy, Inc. owns Reverb, a leading global online marketplace dedicated to buying and selling new, used, and vintage musical instruments. Etsy's mission is to keep commerce human, and we're committed to using the power of business to strengthen communities and empower people. Our company was founded in 2005 and is headquartered in Brooklyn, New York.
Additional reading:
- Form of Restricted Stock Unit (RSU) Agreement under 2015 Equity Incentive Plan (2023)
- Form of Performance Stock Unit (PSU) Agreement under 2015 Equity Incentive Plan (2023)
- Amended and Restated Compensation Program for Non-Employee Directors, effective February 6, 2023
- Letter Agreement between Etsy, Inc. and Colin Stretch, dated January 20, 2023
- Amended and Restated Credit Agreement dated as of March 24, 2023, among Etsy, Inc., JPMorgan Chase Bank, N.A., and the other parties thereto
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
