Etsy, Inc. (NASDAQ:ETSY) PT Raised to $13.50
Etsy, Inc. (NASDAQ:ETSY) had its price objective boosted by research analysts at Morgan Stanley from $9.50 to $13.50 in a research report issued to clients and investors on Thursday. The brokerage presently has an “equal weight” rating on the specialty retailer’s stock. Morgan Stanley’s target price indicates a potential downside of 6.90% from the company’s previous close.
ETSY has been the topic of several other research reports. Loop Capital restated a “buy” rating and set a $16.00 price objective on shares of Etsy in a report on Wednesday, March 22nd. Zacks Investment Research cut Etsy from a “hold” rating to a “sell” rating in a report on Monday, May 1st. TheStreet upgraded Etsy from a “d” rating to a “c-” rating in a report on Wednesday, May 24th. Maxim Group set a $13.00 price objective on Etsy and gave the stock a “buy” rating in a report on Wednesday, May 3rd. Finally, Stifel Nicolaus restated a “hold” rating and set a $13.00 price objective on shares of Etsy in a report on Friday, June 23rd. Ten analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $13.73.
Shares of Etsy (ETSY) traded down 0.68% during trading on Thursday, hitting $14.50. The stock had a trading volume of 805,060 shares. The company’s market cap is $1.61 billion. Etsy has a 12-month low of $9.41 and a 12-month high of $16.05. The stock’s 50 day moving average is $14.35 and its 200-day moving average is $12.32.
Etsy (NASDAQ:ETSY) last posted its quarterly earnings data on Tuesday, May 2nd. The specialty retailer reported $0.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by $0.05. Etsy had a negative return on equity of 2.01% and a negative net margin of 8.29%. The business had revenue of $96.89 million for the quarter, compared to analyst estimates of $98.64 million. Analysts forecast that Etsy will post $0.03 earnings per share for the current year.
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Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FNY Managed Accounts LLC acquired a new stake in shares of Etsy during the first quarter worth approximately $105,000. UBS Group AG boosted its stake in shares of Etsy by 30.7% in the first quarter. UBS Group AG now owns 10,091 shares of the specialty retailer’s stock worth $108,000 after buying an additional 2,373 shares during the period. Creative Planning boosted its stake in shares of Etsy by 77.4% in the first quarter. Creative Planning now owns 12,053 shares of the specialty retailer’s stock worth $128,000 after buying an additional 5,258 shares during the period. Marathon Trading Investment Management LLC acquired a new stake in shares of Etsy during the first quarter worth approximately $174,000. Finally, Pier 88 Investment Partners LLC acquired a new stake in shares of Etsy during the first quarter worth approximately $284,000. 69.57% of the stock is currently owned by institutional investors.
Etsy Company Profile
Etsy, Inc (Etsy) operates a marketplace where people around the world connect, both online and offline, to make, sell and buy goods. The Company offers a range of seller services and tools that help entrepreneurs start, grow and manage their businesses. The Company’s community includes Etsy sellers, Etsy buyers, Etsy employees, its partners and investors.
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