Etsy, Inc. (ETSY) Stock Price Up -5.8% Following Analyst Upgrade

Shares of Etsy, Inc. (NASDAQ:ETSY) rose 5.8% on Wednesday after TheStreet upgraded the stock from a d rating to a c- rating. The company traded as high as $14.11 and last traded at $12.94, with a volume of 2,579,838 shares. The stock had previously closed at $13.73.

Other analysts have also issued reports about the stock. Roth Capital set a $16.00 target price on shares of Etsy and gave the stock a “buy” rating in a report on Monday, February 27th. Maxim Group reiterated a “buy” rating and set a $17.00 target price on shares of Etsy in a report on Tuesday, April 25th. Loop Capital reiterated a “buy” rating and set a $16.00 target price on shares of Etsy in a report on Wednesday, March 22nd. Stifel Nicolaus reiterated a “hold” rating and set a $14.00 target price on shares of Etsy in a report on Thursday, March 2nd. Finally, Wedbush reissued a “neutral” rating and issued a $13.00 price target (down from $14.00) on shares of Etsy in a research note on Wednesday, March 1st. One research analyst has rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company. Etsy has an average rating of “Hold” and an average target price of $13.61.

Several institutional investors have recently made changes to their positions in ETSY. Point72 Asset Management L.P. increased its position in shares of Etsy by 204.5% in the first quarter. Point72 Asset Management L.P. now owns 1,141,948 shares of the specialty retailer’s stock worth $12,139,000 after buying an additional 766,948 shares in the last quarter. FNY Managed Accounts LLC acquired a new position in shares of Etsy during the first quarter worth $105,000. Janus Capital Management LLC increased its position in shares of Etsy by 38.4% in the first quarter. Janus Capital Management LLC now owns 6,222,005 shares of the specialty retailer’s stock worth $66,140,000 after buying an additional 1,726,152 shares in the last quarter. Grandeur Peak Global Advisors LLC increased its position in shares of Etsy by 4.7% in the first quarter. Grandeur Peak Global Advisors LLC now owns 100,000 shares of the specialty retailer’s stock worth $1,063,000 after buying an additional 4,450 shares in the last quarter. Finally, Credit Suisse AG increased its position in shares of Etsy by 13.0% in the first quarter. Credit Suisse AG now owns 129,519 shares of the specialty retailer’s stock worth $1,377,000 after buying an additional 14,894 shares in the last quarter. 69.50% of the stock is owned by institutional investors and hedge funds.

The firm’s 50-day moving average price is $12.66 and its 200 day moving average price is $11.91. The firm’s market capitalization is $1.52 billion.

Etsy (NASDAQ:ETSY) last posted its quarterly earnings data on Tuesday, May 2nd. The specialty retailer reported $0.00 EPS for the quarter, missing the consensus estimate of $0.05 by $0.05. The firm had revenue of $96.89 million for the quarter, compared to the consensus estimate of $98.64 million. Etsy had a negative return on equity of 2.01% and a negative net margin of 8.29%. On average, analysts expect that Etsy, Inc. will post $0.01 EPS for the current fiscal year.

TRADEMARK VIOLATION WARNING: “Etsy, Inc. (ETSY) Stock Price Up -5.8% Following Analyst Upgrade” was first posted by Markets Daily and is the property of of Markets Daily. If you are reading this article on another website, it was stolen and reposted in violation of U.S. and international copyright & trademark legislation. The legal version of this article can be accessed at https://www.themarketsdaily.com/2017/06/16/etsy-inc-etsy-trading-up-5-8-following-analyst-upgrade-updated-updated-updated.html.

About Etsy

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.

Receive News & Ratings for Etsy Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Etsy Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply