Etsy Inc. (ETSY) Lowered to Strong Sell at Zacks Investment Research
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. “
Several other equities analysts have also commented on the company. Morgan Stanley decreased their price target on Etsy from $11.50 to $9.00 and set an equal weight rating on the stock in a research note on Wednesday, August 3rd. Citigroup Inc. upped their price target on Etsy from $16.00 to $20.00 and gave the company a buy rating in a research note on Friday, October 7th. Goldman Sachs Group Inc. upped their price target on Etsy from $11.00 to $14.00 and gave the company a neutral rating in a research note on Wednesday, August 3rd. Loop Capital initiated coverage on Etsy in a research note on Tuesday, September 13th. They issued a hold rating and a $14.00 price target on the stock. Finally, Vetr lowered Etsy from a strong-buy rating to a buy rating and set a $12.44 price target on the stock. in a research note on Monday, August 1st. One analyst has rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of Hold and an average price target of $14.73.
Shares of Etsy (NASDAQ:ETSY) traded up 1.25% during midday trading on Monday, reaching $14.55. The company had a trading volume of 36,134 shares. Etsy has a 52 week low of $6.04 and a 52 week high of $16.05. The company’s 50 day moving average price is $14.38 and its 200-day moving average price is $11.13. The company’s market capitalization is $1.62 billion.
Etsy (NASDAQ:ETSY) last released its quarterly earnings data on Tuesday, August 2nd. The company reported ($0.06) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.01) by $0.05. The company had revenue of $85.35 million for the quarter, compared to analyst estimates of $80.55 million. Etsy had a negative return on equity of 3.08% and a negative net margin of 5.37%. The business’s quarterly revenue was up 38.9% on a year-over-year basis. During the same period last year, the firm posted ($0.07) EPS. On average, equities research analysts predict that Etsy will post ($0.06) earnings per share for the current fiscal year.
In other Etsy news, CEO Chad Dickerson sold 105,289 shares of the company’s stock in a transaction dated Monday, October 10th. The stock was sold at an average price of $16.00, for a total transaction of $1,684,624.00. Following the sale, the chief executive officer now owns 857,645 shares in the company, valued at approximately $13,722,320. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Frederick R. Wilson sold 216,399 shares of the company’s stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $13.61, for a total value of $2,945,190.39. Following the sale, the director now owns 822,062 shares in the company, valued at approximately $11,188,263.82. The disclosure for this sale can be found here. 11.10% of the stock is owned by corporate insiders.
A number of large investors have recently modified their holdings of ETSY. BNP Paribas Arbitrage SA increased its stake in shares of Etsy by 107.6% in the third quarter. BNP Paribas Arbitrage SA now owns 8,598 shares of the company’s stock valued at $123,000 after buying an additional 4,456 shares during the period. BlackRock Inc. increased its stake in shares of Etsy by 341.2% in the second quarter. BlackRock Inc. now owns 10,615 shares of the company’s stock valued at $102,000 after buying an additional 8,209 shares during the period. TFS Capital LLC bought a new stake in shares of Etsy during the second quarter valued at $102,000. Legal & General Group Plc increased its stake in shares of Etsy by 1,829.4% in the second quarter. Legal & General Group Plc now owns 11,017 shares of the company’s stock valued at $104,000 after buying an additional 10,446 shares during the period. Finally, Amalgamated Bank bought a new stake in shares of Etsy during the second quarter valued at $161,000. Institutional investors own 58.14% of the company’s stock.
Etsy Company Profile
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Etsy Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Etsy Inc. and related companies with MarketBeat.com's FREE daily email newsletter.