1stdibs.com (NASDAQ:DIBS) Upgraded to “Buy” at Wall Street Zen

Wall Street Zen upgraded shares of 1stdibs.com (NASDAQ:DIBS) from a hold rating to a buy rating in a research report released on Saturday.

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of 1stdibs.com in a research note on Wednesday, June 24th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $7.00.

1stdibs.com Trading Up 2.4%

DIBS stock opened at $5.08 on Friday. The firm has a 50-day moving average of $4.48 and a two-hundred day moving average of $5.02. 1stdibs.com has a 12 month low of $2.50 and a 12 month high of $6.62. The company has a market cap of $170.79 million, a price-to-earnings ratio of -23.09 and a beta of 0.80.

1stdibs.com (NASDAQ:DIBS) last issued its earnings results on Wednesday, August 5th. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.03. The business had revenue of $23.32 million for the quarter, compared to analysts’ expectations of $22.23 million. 1stdibs.com had a negative return on equity of 8.97% and a negative net margin of 8.54%. As a group, equities analysts forecast that 1stdibs.com will post -0.17 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO David S. Rosenblatt bought 47,500 shares of the stock in a transaction on Tuesday, May 12th. The stock was bought at an average price of $4.51 per share, with a total value of $214,225.00. Following the completion of the purchase, the chief executive officer directly owned 712,802 shares in the company, valued at $3,214,737.02. This represents a 7.14% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 24.21% of the company’s stock.

Hedge Funds Weigh In On 1stdibs.com

Several hedge funds and other institutional investors have recently made changes to their positions in DIBS. Public Employees Retirement System of Ohio lifted its stake in 1stdibs.com by 62.7% during the first quarter. Public Employees Retirement System of Ohio now owns 9,085 shares of the company’s stock worth $50,000 after purchasing an additional 3,500 shares during the last quarter. JPMorgan Chase & Co. increased its stake in 1stdibs.com by 59.1% in the third quarter. JPMorgan Chase & Co. now owns 10,395 shares of the company’s stock valued at $27,000 after purchasing an additional 3,862 shares during the last quarter. Bank of America Corp DE increased its stake in 1stdibs.com by 43.5% in the third quarter. Bank of America Corp DE now owns 13,216 shares of the company’s stock valued at $34,000 after purchasing an additional 4,006 shares during the last quarter. Two Sigma Investments LP raised its holdings in 1stdibs.com by 4.0% during the third quarter. Two Sigma Investments LP now owns 112,460 shares of the company’s stock worth $291,000 after purchasing an additional 4,296 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its holdings in 1stdibs.com by 21.5% during the third quarter. Jacobs Levy Equity Management Inc. now owns 40,328 shares of the company’s stock worth $104,000 after purchasing an additional 7,132 shares in the last quarter. Hedge funds and other institutional investors own 66.97% of the company’s stock.

1stdibs.com Company Profile

1stDibs.com is an online marketplace specializing in high-end furniture, fine art, jewelry, watches, fashion and decor. The platform curates offerings from independent dealers, galleries and luxury brands, enabling vetted sellers to reach discerning buyers around the world. Headquartered in New York with an additional office in Paris, 1stDibs has built a reputation for quality and authenticity through rigorous seller screening and detailed item vetting.

Launched in 2001 by founder Michael Bruno, the company has grown into a leading destination for both private collectors and interior design professionals.