Wells Fargo Maintains Etsy (ETSY) Underweight Recommendation

Fintel reports that on September 27, 2023, Wells Fargo maintained coverage of Etsy (NASDAQ:ETSY) with a Underweight recommendation.

Analyst Price Forecast Suggests 81.47% Upside

As of August 31, 2023, the average one-year price target for Etsy is 112.28. The forecasts range from a low of 46.46 to a high of $178.50. The average price target represents an increase of 81.47% from its latest reported closing price of 61.87.

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The projected annual revenue for Etsy is 2,783MM, an increase of 4.18%. The projected annual non-GAAP EPS is 2.89.

What is the Fund Sentiment?

There are 1406 funds or institutions reporting positions in Etsy. This is a decrease of 113 owner(s) or 7.44% in the last quarter. Average portfolio weight of all funds dedicated to ETSY is 0.18%, a decrease of 28.42%. Total shares owned by institutions decreased in the last three months by 7.01% to 137,462K shares. The put/call ratio of ETSY is 0.67, indicating a bullish outlook.

What are Other Shareholders Doing?

Capital International Investors holds 8,022K shares representing 6.52% ownership of the company. In it's prior filing, the firm reported owning 6,606K shares, representing an increase of 17.64%. The firm decreased its portfolio allocation in ETSY by 13.45% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 3,832K shares representing 3.11% ownership of the company. In it's prior filing, the firm reported owning 3,858K shares, representing a decrease of 0.69%. The firm decreased its portfolio allocation in ETSY by 30.36% over the last quarter.

AGTHX - GROWTH FUND OF AMERICA holds 3,559K shares representing 2.89% ownership of the company. In it's prior filing, the firm reported owning 3,237K shares, representing an increase of 9.06%. The firm decreased its portfolio allocation in ETSY by 30.31% over the last quarter.

Wellington Management Group Llp holds 3,192K shares representing 2.59% ownership of the company. In it's prior filing, the firm reported owning 7,347K shares, representing a decrease of 130.17%. The firm decreased its portfolio allocation in ETSY by 68.49% over the last quarter.

Clearbridge Investments holds 3,119K shares representing 2.54% ownership of the company. In it's prior filing, the firm reported owning 3,254K shares, representing a decrease of 4.32%. The firm decreased its portfolio allocation in ETSY by 31.20% 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.

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