Etsy Inc. (ETSY) Rating Increased to Buy at Monness Crespi & Hardt
Etsy Inc. (NASDAQ:ETSY) was upgraded by stock analysts at Monness Crespi & Hardt from a “neutral” rating to a “buy” rating in a note issued to investors on Wednesday. The firm presently has a $17.00 target price on the stock. Monness Crespi & Hardt’s target price points to a potential upside of 14.83% from the company’s current price.
A number of other equities research analysts have also issued reports on ETSY. Maxim Group initiated coverage on Etsy in a research report on Thursday, May 26th. They issued a “buy” rating and a $12.00 price target on the stock. TheStreet assumed coverage on Etsy in a research report on Thursday, May 26th. They issued a “sell” rating on the stock. Citigroup Inc. assumed coverage on Etsy in a report on Monday, August 1st. They issued a “buy” rating and a $14.00 price objective on the stock. Vetr downgraded Etsy from a “strong-buy” rating to a “buy” rating and set a $12.44 price objective on the stock. in a report on Monday, August 1st. Finally, Wedbush reiterated a “neutral” rating and issued a $13.00 price objective (up previously from $10.00) on shares of Etsy in a report on Wednesday, August 3rd. Ten investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $13.94.
Shares of Etsy (NASDAQ:ETSY) opened at 14.82 on Wednesday. Etsy has a 12-month low of $6.04 and a 12-month high of $15.29. The firm has a 50-day moving average of $13.91 and a 200-day moving average of $10.39. The company’s market cap is $1.65 billion.
Etsy (NASDAQ:ETSY) last posted its quarterly 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. The company earned $85.35 million during the quarter, compared to analyst estimates of $80.55 million. Etsy had a negative net margin of 5.37% and a negative return on equity of 3.08%. Etsy’s revenue for the quarter was up 38.9% on a year-over-year basis. During the same period in the prior year, the business earned ($0.07) EPS. Analysts predict that Etsy will post ($0.06) EPS for the current year.
In related news, Director Frederick R. Wilson sold 216,399 shares of the firm’s stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $13.61, for a total transaction of $2,945,190.39. Following the transaction, the director now owns 822,062 shares in the company, valued at approximately $11,188,263.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider John Allspaw sold 63,468 shares of the stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $12.50, for a total value of $793,350.00. Following the sale, the insider now directly owns 66,864 shares of the company’s stock, valued at $835,800. The disclosure for this sale can be found here. Corporate insiders own 11.10% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its stake in Etsy by 42.6% in the first quarter. JPMorgan Chase & Co. now owns 543,251 shares of the company’s stock worth $4,726,000 after buying an additional 162,213 shares during the last quarter. BlackRock Group LTD bought a new stake in Etsy during the first quarter worth $146,000. SG Americas Securities LLC bought a new stake in Etsy during the second quarter worth $1,024,000. Strs Ohio bought a new stake in Etsy during the second quarter worth $535,000. Finally, Pacad Investment Ltd. bought a new stake in Etsy during the first quarter worth $131,000. 58.14% of the stock is owned by institutional investors.
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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