Zacks Investment Research upgraded shares of Etsy, Inc. (NASDAQ:ETSY) from a hold rating to a buy rating in a report released on Thursday. They currently have $19.00 price target on the specialty retailer’s stock.
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. “
A number of other equities analysts have also issued reports on ETSY. Loop Capital lowered Etsy from a buy rating to a hold rating in a research note on Wednesday, May 17th. Maxim Group restated a buy rating and issued a $17.00 target price (up previously from $13.00) on shares of Etsy in a research note on Wednesday, May 17th. TheStreet upgraded Etsy from a d rating to a c- rating in a research note on Wednesday, May 24th. Citigroup Inc. restated a neutral rating and issued a $14.00 target price (up previously from $12.95) on shares of Etsy in a research note on Thursday, May 25th. Finally, Roth Capital set a $14.00 price target 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 issued a buy rating to the company’s stock. The company has an average rating of Hold and an average target price of $15.00.
Shares of Etsy (NASDAQ:ETSY) opened at 16.88 on Thursday. The company has a 50 day moving average price of $15.51 and a 200 day moving average price of $13.05. Etsy has a one year low of $9.41 and a one year high of $17.49. The company’s market cap is $1.87 billion.
Etsy (NASDAQ:ETSY) last issued its earnings results on Thursday, August 3rd. The specialty retailer reported $0.10 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.06. The company had revenue of $101.70 million during 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 quarter last year, the business posted ($0.06) EPS. Equities analysts predict that Etsy will post $0.27 EPS for the current year.
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In other news, CEO Josh Silverman acquired 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 acquisition, the chief executive officer now owns 64,000 shares in the company, valued at approximately $1,002,880. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 4.00% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Creative Planning lifted its stake in Etsy by 77.4% in the 1st quarter. Creative Planning now owns 12,053 shares of the specialty retailer’s stock worth $128,000 after purchasing an additional 5,258 shares in the last quarter. Wells Fargo & Company MN lifted its stake in Etsy by 70.6% in the 1st 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 in the last quarter. Algert Global LLC purchased a new position in Etsy in the 1st quarter worth approximately $301,000. BNP Paribas Arbitrage SA lifted its stake in Etsy by 263.8% in the 1st 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 in the last quarter. Finally, UBS Asset Management Americas Inc. lifted its stake in Etsy by 83.7% in the 1st 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 in 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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