Etsy, Inc. (ETSY) Upgraded to Buy by Zacks Investment Research
Etsy, Inc. (NASDAQ:ETSY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Friday. The firm presently has a $20.00 price objective on the specialty retailer’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 16.48% from the company’s previous close.
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. BidaskClub lowered Etsy from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Citigroup Inc. restated a “neutral” rating and set a $14.00 target price (up previously from $12.95) on shares of Etsy in a research report on Thursday, May 25th. Maxim Group set a $17.00 target price on Etsy and gave the company a “buy” rating in a research report on Wednesday, June 21st. Ifs Securities restated an “outperform” rating and set a $18.00 target price on shares of Etsy in a research report on Thursday, August 24th. Finally, Stifel Nicolaus boosted their target price on Etsy from $13.00 to $15.00 and gave the company a “hold” rating in a research report on Friday, August 4th. Ten investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $15.07.
Etsy (ETSY) traded down 3.32% on Friday, reaching $17.17. The company’s stock had a trading volume of 4,674,658 shares. Etsy has a one year low of $9.41 and a one year high of $17.90. The firm has a 50-day moving average of $15.92 and a 200-day moving average of $13.22. The company’s market capitalization is $1.91 billion.
Etsy (NASDAQ:ETSY) last announced its earnings results on Thursday, August 3rd. The specialty retailer reported $0.10 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.06. Etsy had a positive return on equity of 3.83% and a negative net margin of 3.16%. The business had revenue of $101.70 million during the quarter, compared to analyst estimates of $101.14 million. During the same quarter in the previous year, the business earned ($0.06) earnings per share. The company’s revenue for the quarter was up 19.2% compared to the same quarter last year. Analysts predict that Etsy will post $0.27 EPS for the current year.
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In related news, CEO Josh Silverman purchased 64,000 shares of the firm’s stock in a transaction dated Tuesday, August 8th. The stock was purchased at an average price of $15.67 per share, with a total value of $1,002,880.00. Following the completion of the purchase, the chief executive officer now owns 64,000 shares of the company’s stock, valued at approximately $1,002,880. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 4.00% of the company’s stock.
Several institutional investors have recently bought and sold shares of ETSY. Wells Fargo & Company MN raised its stake in shares of Etsy by 70.6% during the first quarter. Wells Fargo & Company MN now owns 1,533,634 shares of the specialty retailer’s stock valued at $16,303,000 after acquiring an additional 634,855 shares in the last quarter. BNP Paribas Arbitrage SA raised its stake in shares of Etsy by 263.8% during the first quarter. BNP Paribas Arbitrage SA now owns 27,160 shares of the specialty retailer’s stock valued at $289,000 after acquiring an additional 19,694 shares in the last quarter. UBS Asset Management Americas Inc. raised its stake in shares of Etsy by 83.7% during the first quarter. UBS Asset Management Americas Inc. now owns 32,139 shares of the specialty retailer’s stock valued at $342,000 after acquiring an additional 14,639 shares in the last quarter. TD Asset Management Inc. raised its stake in shares of Etsy by 52.7% during the first quarter. TD Asset Management Inc. now owns 39,100 shares of the specialty retailer’s stock valued at $416,000 after acquiring an additional 13,500 shares in the last quarter. Finally, Alambic Investment Management L.P. bought a new stake in shares of Etsy during the first quarter valued at approximately $539,000. 73.04% of the stock is owned by hedge funds and other institutional investors.
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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