Etsy’s (ETSY) Neutral Rating Reiterated at Piper Jaffray Companies
Etsy, Inc. (NASDAQ:ETSY)‘s stock had its “neutral” rating reiterated by investment analysts at Piper Jaffray Companies in a research note issued to investors on Wednesday. They currently have a $14.50 target price on the specialty retailer’s stock. Piper Jaffray Companies’ price objective would suggest a potential downside of 12.39% from the company’s previous close.
A number of other research firms have also weighed in on ETSY. Zacks Investment Research raised Etsy from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a report on Friday, September 15th. Stifel Nicolaus reissued a “hold” rating and set a $13.00 target price on shares of Etsy in a report on Friday, June 23rd. Royal Bank Of Canada boosted their target price on Etsy from $12.00 to $16.00 and gave the stock a “sector perform” rating in a report on Friday, August 4th. BidaskClub lowered Etsy from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. Finally, Roth Capital set a $14.00 target price on Etsy and gave the stock a “hold” rating in a report on Monday, July 31st. Ten investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $15.00.
Etsy (NASDAQ ETSY) traded down 2.82% during midday trading on Wednesday, hitting $16.55. The stock had a trading volume of 1,329,844 shares. The firm’s market capitalization is $1.84 billion. Etsy has a 1-year low of $9.41 and a 1-year high of $17.90. The firm has a 50-day moving average price of $16.58 and a 200-day moving average price of $13.85.
Etsy (NASDAQ:ETSY) last posted its quarterly earnings results on Thursday, August 3rd. The specialty retailer reported $0.10 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.06. The firm 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 business’s quarterly revenue was up 19.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.06) EPS. On average, equities research analysts anticipate that Etsy will post $0.27 earnings per share for the current year.
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In other news, CEO Josh Silverman purchased 64,000 shares of Etsy stock in a transaction that occurred on Tuesday, August 8th. The stock was acquired at an average cost of $15.67 per share, for a total transaction of $1,002,880.00. Following the purchase, the chief executive officer now directly owns 64,000 shares of the company’s stock, valued at approximately $1,002,880. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 4.00% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Royal Bank of Canada boosted its stake in Etsy by 30.3% in the 2nd quarter. Royal Bank of Canada now owns 8,812 shares of the specialty retailer’s stock valued at $133,000 after purchasing an additional 2,049 shares during the period. FNY Managed Accounts LLC bought a new stake in Etsy in the 1st quarter valued at $105,000. UBS Group AG boosted its stake in Etsy by 30.7% in the 1st quarter. UBS Group AG now owns 10,091 shares of the specialty retailer’s stock valued at $108,000 after purchasing an additional 2,373 shares during the period. Ameritas Investment Partners Inc. boosted its stake in Etsy by 12.0% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 10,160 shares of the specialty retailer’s stock valued at $152,000 after purchasing an additional 1,092 shares during the period. Finally, Amalgamated Bank boosted its stake in Etsy by 14.9% in the 2nd quarter. Amalgamated Bank now owns 14,788 shares of the specialty retailer’s stock valued at $222,000 after purchasing an additional 1,920 shares during the period. Institutional investors and hedge funds own 73.03% 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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