Etsy Inc. (ETSY) PT Raised to $20.00
Etsy Inc. (NASDAQ:ETSY) had its target price boosted by research analysts at Citigroup Inc. from $16.00 to $20.00 in a report released on Friday. The firm currently has a “buy” rating on the stock. Citigroup Inc.’s target price would suggest a potential upside of 32.19% from the company’s current price.
Several other equities research analysts have also recently commented on the company. Goldman Sachs Group Inc. increased their price target on Etsy from $11.00 to $14.00 and gave the company a “neutral” rating in a report on Wednesday, August 3rd. Zacks Investment Research cut Etsy from a “buy” rating to a “hold” rating in a report on Monday, August 22nd. 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 research report on Wednesday, September 21st. Morgan Stanley reiterated an “equal weight” rating and issued a $13.50 price objective (up from $11.50) on shares of Etsy in a research report on Monday, September 12th. Finally, RBC Capital Markets reiterated a “neutral” rating and issued a $13.00 price objective (up from $11.00) on shares of Etsy in a research report on Friday, August 5th. Ten research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $14.59.
Etsy (NASDAQ:ETSY) traded up 5.02% on Friday, hitting $15.89. The stock had a trading volume of 922,016 shares. The company’s market cap is $1.76 billion. Etsy has a 52-week low of $6.04 and a 52-week high of $16.05. The firm’s 50-day moving average is $14.14 and its 200-day moving average is $10.80.
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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 the consensus estimate of ($0.01) by $0.05. Etsy had a negative net margin of 5.37% and a negative return on equity of 3.08%. The company earned $85.35 million during the quarter, compared to analyst estimates of $80.55 million. During the same period in the prior year, the business posted ($0.07) EPS. Etsy’s revenue for the quarter was up 38.9% compared to the same quarter last year. Equities research analysts anticipate that Etsy will post ($0.06) earnings per share for the current fiscal year.
In other news, CFO Kristina Salen sold 156,839 shares of the firm’s stock in a transaction on Wednesday, September 21st. The stock was sold at an average price of $15.00, for a total transaction of $2,352,585.00. Following the completion of the transaction, the chief financial officer now directly owns 158,581 shares in the company, valued at $2,378,715. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Frederick R. Wilson sold 216,399 shares of the firm’s stock in a transaction on Monday, August 8th. The stock was sold at an average price of $13.61, for a total value of $2,945,190.39. Following the transaction, the director now owns 822,062 shares of the company’s stock, valued at $11,188,263.82. The disclosure for this sale can be found here. 11.10% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in ETSY. Pacad Investment Ltd. purchased a new position in Etsy during the first quarter valued at approximately $131,000. JPMorgan Chase & Co. raised its position in Etsy by 42.6% in the first quarter. JPMorgan Chase & Co. now owns 543,251 shares of the company’s stock valued at $4,726,000 after buying an additional 162,213 shares in the last quarter. State Street Corp raised its position in Etsy by 8.2% in the first quarter. State Street Corp now owns 289,808 shares of the company’s stock valued at $2,523,000 after buying an additional 21,896 shares in the last quarter. Geode Capital Management LLC raised its position in Etsy by 3.9% in the first quarter. Geode Capital Management LLC now owns 169,884 shares of the company’s stock valued at $1,477,000 after buying an additional 6,370 shares in the last quarter. Finally, Bayesian Capital Management LP purchased a new position in Etsy during the first quarter valued at approximately $177,000. Institutional investors and hedge funds own 58.14% of the company’s stock.
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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