Etsy Inc. (ETSY) Trading 15.2% Higher
Etsy Inc. (NASDAQ:ETSY) shares traded up 15.2% during mid-day trading on Monday . The company traded as high as $11.81 and last traded at $11.59, with a volume of 5,455,361 shares trading hands. The stock had previously closed at $10.06.
A number of research analysts have recently issued reports on the company. Citigroup Inc. assumed coverage on Etsy in a research note on Monday. They issued a “buy” rating and a $14.00 price objective on the stock. TheStreet assumed coverage on Etsy in a research note on Thursday, May 26th. They issued a “sell” rating on the stock. Maxim Group initiated coverage on Etsy in a research note on Thursday, May 26th. They issued a “buy” rating and a $12.00 price objective on the stock. Royal Bank Of Canada reaffirmed a “hold” rating on shares of Etsy in a research report on Thursday, May 12th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $10.00 target price (up from $9.00) on shares of Etsy in a research report on Wednesday, May 4th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $11.40.
The company’s market capitalization is $1.32 billion. The company has a 50 day moving average price of $9.70 and a 200 day moving average price of $8.67.
Etsy (NASDAQ:ETSY) last posted its earnings results on Tuesday, May 3rd. The company reported ($0.84) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.03) by $0.81. The firm had revenue of $58.54 million for the quarter, compared to the consensus estimate of $75.15 million. During the same period in the prior year, the company posted ($0.84) EPS. The company’s revenue for the quarter was up 39.8% compared to the same quarter last year. On average, equities research analysts predict that Etsy Inc. will post ($0.02) earnings per share for the current fiscal year.
In other news, CTO John Allspaw sold 206,312 shares of the stock in a transaction dated Tuesday, June 21st. The shares were sold at an average price of $10.00, for a total transaction of $2,063,120.00. Following the completion of the sale, the chief technology officer now directly owns 14,729 shares in the company, valued at $147,290. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Frederick R. Wilson sold 200,000 shares of the stock in a transaction dated Thursday, May 12th. The stock was sold at an average price of $8.27, for a total transaction of $1,654,000.00. Following the sale, the director now owns 822,062 shares of the company’s stock, valued at $6,798,452.74. The disclosure for this sale can be found here.
Etsy, Inc (Etsy) operates a marketplace where people around the world connect, both online and offline, to make, sell and buy goods. Handmade goods are the foundation of its marketplace. The Company operates a platform for third-party sellers. The Company offers a mix of marketplace activities and services.
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