Citigroup Inc. Boosts Etsy Inc. (ETSY) Price Target to $20.00
A number of other research analysts have also recently weighed in on ETSY. Zacks Investment Research cut shares of Etsy from a buy rating to a hold rating in a report on Tuesday, October 4th. Maxim Group lifted their price objective on shares of Etsy from $15.00 to $17.00 and gave the company a buy rating in a report on Monday, September 26th. Monness Crespi & Hardt upgraded shares of Etsy from a neutral rating to a buy rating and set a $17.00 price objective for the company in a report on Wednesday, September 21st. Loop Capital initiated coverage on shares of Etsy in a report on Tuesday, September 13th. They issued a hold rating and a $14.00 price objective for the company. Finally, Morgan Stanley restated an equal weight rating and issued a $13.50 price objective (up previously from $11.50) on shares of Etsy in a report on Monday, September 12th. Ten research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Etsy currently has a consensus rating of Hold and a consensus price target of $14.59.
Etsy (NASDAQ:ETSY) opened at 15.27 on Friday. Etsy has a 52 week low of $6.04 and a 52 week high of $16.05. The firm’s market cap is $1.69 billion. The firm’s 50-day moving average is $14.26 and its 200-day moving average is $10.96.
Etsy (NASDAQ:ETSY) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by $0.05. Etsy had a negative net margin of 5.37% and a negative return on equity of 3.08%. The company had revenue of $85.35 million for the quarter, compared to analyst estimates of $80.55 million. During the same quarter in the prior year, the business earned ($0.07) earnings per share. Etsy’s revenue was up 38.9% on a year-over-year basis. On average, equities analysts anticipate that Etsy will post ($0.06) earnings per share for the current year.
In related news, CFO Kristina Salen sold 20,000 shares of the company’s stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $15.00, for a total value of $300,000.00. Following the completion of the sale, the chief financial officer now owns 4,706 shares in the company, valued at approximately $70,590. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider John Allspaw sold 36,532 shares of the company’s stock in a transaction on Wednesday, September 21st. The shares were sold at an average price of $15.00, for a total transaction of $547,980.00. Following the completion of the sale, the insider now owns 39,928 shares of the company’s stock, valued at approximately $598,920. The disclosure for this sale can be found here. Insiders own 11.10% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in ETSY. JPMorgan Chase & Co. increased its stake in Etsy by 42.6% in the first quarter. JPMorgan Chase & Co. now owns 543,251 shares of the company’s stock valued at $4,726,000 after buying an additional 162,213 shares during the period. SG Americas Securities LLC acquired a new stake in Etsy during the second quarter valued at approximately $1,024,000. TD Asset Management Inc. increased its stake in Etsy by 9.9% in the second quarter. TD Asset Management Inc. now owns 18,800 shares of the company’s stock valued at $180,000 after buying an additional 1,700 shares during the period. Strs Ohio acquired a new stake in Etsy during the second quarter valued at approximately $535,000. Finally, Bank of New York Mellon Corp increased its stake in Etsy by 173.8% in the second quarter. Bank of New York Mellon Corp now owns 316,333 shares of the company’s stock valued at $3,034,000 after buying an additional 200,785 shares during the period. Hedge funds and other institutional investors own 58.14% of the company’s stock.
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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