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.
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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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