Fintel reports that on July 17, 2023, Goldman Sachs maintained coverage of Etsy (NASDAQ:ETSY) with a Buy recommendation.

Analyst Price Forecast Suggests 29.35% 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 29.35% from its latest reported closing price of 92.25.

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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 1508 funds or institutions reporting positions in Etsy. This is a decrease of 28 owner(s) or 1.82% in the last quarter. Average portfolio weight of all funds dedicated to ETSY is 0.23%, a decrease of 20.01%. Total shares owned by institutions increased in the last three months by 2.60% to 147,792K shares. The put/call ratio of ETSY is 0.80, 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.

This article originally appeared on Fintel

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