Etsy Inc. (ETSY) Shares Up 2.4%
Etsy Inc. (NASDAQ:ETSY) shot up 2.4% during mid-day trading on Thursday . The company traded as high as $13.85 and last traded at $13.78, with a volume of 293,347 shares. The stock had previously closed at $13.46.
A number of brokerages have issued reports on ETSY. Maxim Group increased their price target on Etsy from $12.00 to $15.00 and gave the stock a “buy” rating in a research note on Wednesday, August 3rd. TheStreet initiated coverage on Etsy in a research note on Thursday, May 26th. They issued a “sell” rating for the company. Wedbush reissued a “neutral” rating and set a $13.00 price objective (up previously from $10.00) on shares of Etsy in a report on Wednesday, August 3rd. Royal Bank Of Canada reissued a “hold” rating on shares of Etsy in a report on Thursday, May 12th. Finally, Morgan Stanley dropped their price objective on shares of Etsy from $11.50 to $9.00 and set an “equal weight” rating for the company in a report on Wednesday, August 3rd. Ten equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $12.98.
The company’s market cap is $1.54 billion. The company’s 50-day moving average price is $12.59 and its 200-day moving average price is $9.83.
Etsy (NASDAQ:ETSY) last released its earnings results on Tuesday, August 2nd. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by $0.05. During the same period last year, the firm posted ($0.07) EPS. The company had revenue of $85.35 million for the quarter, compared to analysts’ expectations of $80.55 million. The business’s revenue for the quarter was up 38.9% compared to the same quarter last year. On average, analysts predict that Etsy Inc. will post ($0.03) earnings per share for the current fiscal year.
In related news, Director Frederick R. Wilson sold 216,399 shares of the business’s stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $13.61, for a total value of $2,945,190.39. Following the completion of the sale, the director now directly owns 822,062 shares in the company, valued at $11,188,263.82. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider John Allspaw sold 63,468 shares of the business’s stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $12.50, for a total transaction of $793,350.00. Following the completion of the sale, the insider now owns 66,864 shares of the company’s stock, valued at $835,800. The disclosure for this sale can be found here.
Etsy, Inc (Etsy) operates a marketplace to connect people around the both online and offline for making, selling and buying goods. The Company’s geographical segments include United States and International. The Company’s community includes Etsy sellers, Etsy buyers, wholesale partners, manufacturers and Etsy employees.
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