Etsy, Inc. (ETSY) Lifted to Buy at Zacks Investment Research
Etsy, Inc. (NASDAQ:ETSY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Thursday. The firm currently has a $19.00 price target on the specialty retailer’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 11.76% from the company’s current price.
According to Zacks, “Etsy, Inc. offers e-commerce services. It provides online and offline marketplaces to buy and sell goods. The company’s product include art, home and living, mobile accessories, jewelry, wedding, and others. It operates primarily in Berlin, Germany, Dublin, Ireland, Hudson, New York, London, United Kingdom, Melbourne, Australia, Paris, France, San Francisco, California and Toronto, Canada. Etsy, Inc. is headquartered in Brooklyn, New York. “
ETSY has been the subject of several other research reports. Loop Capital downgraded Etsy from a “buy” rating to a “hold” rating in a report on Wednesday, May 17th. Maxim Group reaffirmed a “buy” rating and set a $17.00 target price (up previously from $13.00) on shares of Etsy in a research report on Wednesday, May 17th. TheStreet raised Etsy from a “d” rating to a “c-” rating in a research report on Wednesday, May 24th. Citigroup Inc. reissued a “neutral” rating and issued a $14.00 price objective (up previously from $12.95) on shares of Etsy in a research report on Thursday, May 25th. Finally, Roth Capital set a $14.00 price objective on Etsy and gave the stock a “hold” rating in a research report on Thursday, June 22nd. Ten equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $15.00.
Etsy (ETSY) traded up 2.29% during mid-day trading on Thursday, hitting $17.00. 3,339,252 shares of the company were exchanged. Etsy has a 12-month low of $9.41 and a 12-month high of $17.49. The company’s market cap is $1.89 billion. The stock’s 50 day moving average is $15.38 and its 200-day moving average is $12.99.
Etsy (NASDAQ:ETSY) last posted its quarterly earnings data on Thursday, August 3rd. The specialty retailer reported $0.10 EPS for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.06. The company had revenue of $101.70 million for the quarter, compared to analyst estimates of $101.14 million. Etsy had a positive return on equity of 3.83% and a negative net margin of 3.16%. The firm’s quarterly revenue was up 19.2% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.06) earnings per share. Equities research analysts predict that Etsy will post $0.27 EPS for the current year.
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In related news, CEO Josh Silverman bought 64,000 shares of the stock in a transaction that occurred on Tuesday, August 8th. The shares were bought at an average cost of $15.67 per share, for a total transaction of $1,002,880.00. Following the completion of the transaction, the chief executive officer now owns 64,000 shares of the company’s stock, valued at $1,002,880. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 4.00% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Creative Planning lifted its position in shares of Etsy by 77.4% in the first quarter. Creative Planning now owns 12,053 shares of the specialty retailer’s stock valued at $128,000 after acquiring an additional 5,258 shares in the last quarter. Wells Fargo & Company MN increased its holdings in shares of Etsy by 70.6% in the first quarter. Wells Fargo & Company MN now owns 1,533,634 shares of the specialty retailer’s stock worth $16,303,000 after purchasing an additional 634,855 shares during the last quarter. Algert Global LLC bought a new stake in shares of Etsy in the first quarter worth about $301,000. BNP Paribas Arbitrage SA increased its holdings in shares of Etsy by 263.8% in the first quarter. BNP Paribas Arbitrage SA now owns 27,160 shares of the specialty retailer’s stock worth $289,000 after purchasing an additional 19,694 shares during the last quarter. Finally, UBS Asset Management Americas Inc. increased its holdings in shares of Etsy by 83.7% in the first quarter. UBS Asset Management Americas Inc. now owns 32,139 shares of the specialty retailer’s stock worth $342,000 after purchasing an additional 14,639 shares during the last quarter. Institutional investors own 73.04% of the company’s stock.
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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