Etsy, Inc. (ETSY) Shares Gap Up on Analyst Upgrade
Etsy, Inc. (NASDAQ:ETSY) gapped up prior to trading on Monday after Stifel Nicolaus raised their price target on the stock from $13.00 to $15.00. The stock had previously closed at $14.81, but opened at $15.15. Stifel Nicolaus currently has a hold rating on the stock. Etsy shares last traded at $15.50, with a volume of 1,157,914 shares trading hands.
Several other research firms also recently weighed in on ETSY. BidaskClub downgraded Etsy from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. Royal Bank Of Canada increased their price objective on Etsy from $12.00 to $16.00 and gave the company a “sector perform” rating in a report on Friday, August 4th. Loop Capital downgraded Etsy from a “buy” rating to a “hold” rating in a report on Wednesday, May 17th. Roth Capital set a $14.00 price objective on Etsy and gave the company a “hold” rating in a report on Monday, July 31st. Finally, Zacks Investment Research raised Etsy from a “hold” rating to a “buy” rating and set a $17.00 price objective for the company in a report on Tuesday, July 4th. Eleven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Etsy has a consensus rating of “Hold” and an average target price of $14.33.
Several large investors have recently modified their holdings of the company. FNY Managed Accounts LLC bought a new stake in shares of Etsy during the first quarter valued at $105,000. UBS Group AG increased its stake in shares of Etsy by 30.7% in the first quarter. UBS Group AG now owns 10,091 shares of the specialty retailer’s stock valued at $108,000 after buying an additional 2,373 shares in the last quarter. Creative Planning increased its stake in shares of Etsy by 77.4% in the first quarter. Creative Planning now owns 12,053 shares of the specialty retailer’s stock valued at $128,000 after buying an additional 5,258 shares in the last quarter. Marathon Trading Investment Management LLC bought a new stake in shares of Etsy during the first quarter valued at $174,000. Finally, Principal Financial Group Inc. increased its stake in shares of Etsy by 9.0% in the second quarter. Principal Financial Group Inc. now owns 16,099 shares of the specialty retailer’s stock valued at $241,000 after buying an additional 1,330 shares in the last quarter. 69.59% of the stock is owned by hedge funds and other institutional investors.
The firm has a 50 day moving average of $14.68 and a 200 day moving average of $12.49. The company’s market capitalization is $1.73 billion.
Etsy (NASDAQ:ETSY) last released its quarterly earnings data on Thursday, August 3rd. The specialty retailer reported $0.10 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.06. Etsy had a positive return on equity of 3.77% and a negative net margin of 3.16%. The business had revenue of $101.70 million during the quarter, compared to analyst estimates of $101.14 million. During the same quarter in the previous year, the firm posted ($0.06) EPS. The business’s revenue for the quarter was up 19.2% compared to the same quarter last year. On average, analysts anticipate that Etsy, Inc. will post $0.28 EPS for the current year.
Etsy Company Profile
Etsy, Inc (Etsy) operates a marketplace where people around the world connect, both online and offline, to make, sell and buy goods. The Company offers a range of seller services and tools that help entrepreneurs start, grow and manage their businesses. The Company’s community includes Etsy sellers, Etsy buyers, Etsy employees, its partners and investors.
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