Etsy Inc. (ETSY) PT Raised to $20.00 at Citigroup Inc.
Etsy Inc. (NASDAQ:ETSY) had its target price upped by research analysts at Citigroup Inc. from $16.00 to $20.00 in a note issued to investors on Friday. The firm presently has a “buy” rating on the stock. Citigroup Inc.’s price target would suggest a potential upside of 32.19% from the stock’s current price.
ETSY has been the subject of a number of other research reports. Loop Capital initiated coverage on Etsy in a report on Tuesday, September 13th. They set a “hold” rating and a $14.00 price target for the company. Zacks Investment Research cut Etsy from a “buy” rating to a “hold” rating in a report on Tuesday. Morgan Stanley restated an “equal weight” rating and set a $13.50 price objective (up previously from $11.50) on shares of Etsy in a report on Monday, September 12th. Monness Crespi & Hardt upgraded Etsy from a “neutral” rating to a “buy” rating and set a $17.00 price objective for the company in a report on Wednesday, September 21st. Finally, Vetr cut Etsy from a “strong-buy” rating to a “buy” rating and set a $12.44 price objective for the company. in a report on Monday, August 1st. Ten analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $14.59.
Etsy (NASDAQ:ETSY) traded up 5.056% during midday trading on Friday, reaching $15.895. The company had a trading volume of 917,295 shares. The stock’s 50 day moving average is $14.14 and its 200 day moving average is $10.80. Etsy has a one year low of $6.04 and a one year high of $16.05. The company’s market capitalization is $1.76 billion.
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Etsy (NASDAQ:ETSY) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by $0.05. Etsy had a negative return on equity of 3.08% and a negative net margin of 5.37%. The business had revenue of $85.35 million for the quarter, compared to the consensus estimate of $80.55 million. During the same quarter in the previous year, the business posted ($0.07) EPS. The company’s revenue for the quarter was up 38.9% on a year-over-year basis. Equities research analysts forecast that Etsy will post ($0.06) earnings per share for the current fiscal year.
In other Etsy news, insider John Allspaw sold 63,468 shares of the business’s stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $12.50, for a total transaction of $793,350.00. Following the completion of the transaction, the insider now directly owns 66,864 shares in the company, valued at $835,800. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Kristina Salen sold 156,839 shares of the business’s stock in a transaction that occurred on Wednesday, September 21st. The shares were sold at an average price of $15.00, for a total transaction of $2,352,585.00. Following the transaction, the chief financial officer now owns 158,581 shares of the company’s stock, valued at $2,378,715. The disclosure for this sale can be found here. Company insiders own 11.10% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Boston Private Wealth LLC increased its position in shares of Etsy by 0.3% in the second quarter. Boston Private Wealth LLC now owns 24,544 shares of the company’s stock valued at $235,000 after buying an additional 75 shares in the last quarter. Cipher Capital LP increased its position in shares of Etsy by 8.0% in the second quarter. Cipher Capital LP now owns 18,056 shares of the company’s stock valued at $173,000 after buying an additional 1,333 shares in the last quarter. TD Asset Management Inc. increased its position in shares of Etsy by 9.9% in the second quarter. TD Asset Management Inc. now owns 18,800 shares of the company’s stock valued at $180,000 after buying an additional 1,700 shares in the last quarter. Cubist Systematic Strategies LLC increased its position in shares of Etsy by 25.0% in the second quarter. Cubist Systematic Strategies LLC now owns 15,467 shares of the company’s stock valued at $148,000 after buying an additional 3,092 shares in the last quarter. Finally, A.R.T. Advisors LLC increased its position in shares of Etsy by 14.8% in the first quarter. A.R.T. Advisors LLC now owns 27,953 shares of the company’s stock valued at $243,000 after buying an additional 3,600 shares in the last quarter. Institutional investors and hedge funds own 58.14% of the company’s stock.
Etsy Company Profile
Etsy, Inc (Etsy) operates a marketplace to connect people around the both online and offline for making, selling and buying goods. The Company’s geographical segments include United States and International. The Company’s community includes Etsy sellers, Etsy buyers, wholesale partners, manufacturers and Etsy employees.
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