Etsy, Inc. (ETSY) Stock Rating Upgraded by Zacks Investment Research
Etsy, Inc. (NASDAQ:ETSY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Friday. The firm currently has a $20.00 price target on the specialty retailer’s stock. Zacks Investment Research‘s price target points to a potential upside of 16.48% from the company’s previous close.
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. “
A number of other brokerages have also weighed in on ETSY. Stifel Nicolaus reaffirmed a “hold” rating and issued a $13.00 target price on shares of Etsy in a research note on Friday, June 23rd. Royal Bank Of Canada upped their target price on shares of Etsy from $12.00 to $16.00 and gave the stock a “sector perform” rating in a research note on Friday, August 4th. BidaskClub lowered shares of Etsy from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. Roth Capital set a $14.00 target price on shares of Etsy and gave the stock a “hold” rating in a research note on Monday, July 31st. Finally, DA Davidson started coverage on shares of Etsy in a research note on Wednesday, September 6th. They issued a “buy” rating and a $18.00 target price for the company. Ten investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Etsy has a consensus rating of “Hold” and a consensus price target of $15.07.
Shares of Etsy (ETSY) opened at 17.17 on Friday. The stock’s market capitalization is $1.91 billion. Etsy has a one year low of $9.41 and a one year high of $17.90. The company’s 50 day moving average price is $15.92 and its 200 day moving average price is $13.22.
Etsy (NASDAQ:ETSY) last announced its earnings results on Thursday, August 3rd. The specialty retailer reported $0.10 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.06. The firm had revenue of $101.70 million during the quarter, compared to analyst estimates of $101.14 million. Etsy had a negative net margin of 3.16% and a positive return on equity of 3.83%. The company’s revenue for the quarter was up 19.2% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.06) EPS. On average, analysts expect that Etsy will post $0.27 earnings per share for the current fiscal year.
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In other news, CEO Josh Silverman bought 64,000 shares of the company’s stock in a transaction dated Tuesday, August 8th. The shares were bought at an average cost of $15.67 per share, with a total value of $1,002,880.00. Following the acquisition, the chief executive officer now owns 64,000 shares in the company, valued at $1,002,880. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.00% of the stock is currently owned by corporate insiders.
Several hedge funds have recently modified their holdings of the company. Ameritas Investment Partners Inc. raised its holdings in shares of Etsy by 12.0% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 10,160 shares of the specialty retailer’s stock valued at $152,000 after purchasing an additional 1,092 shares during the period. Principal Financial Group Inc. raised its holdings in shares of Etsy by 9.0% in the 2nd quarter. Principal Financial Group Inc. now owns 16,099 shares of the specialty retailer’s stock valued at $241,000 after purchasing an additional 1,330 shares during the period. Amalgamated Bank raised its holdings in shares of Etsy by 14.9% in the 2nd quarter. Amalgamated Bank now owns 14,788 shares of the specialty retailer’s stock valued at $222,000 after purchasing an additional 1,920 shares during the period. Royal Bank of Canada raised its holdings in shares of Etsy by 30.3% in the 2nd quarter. Royal Bank of Canada now owns 8,812 shares of the specialty retailer’s stock valued at $133,000 after purchasing an additional 2,049 shares during the period. Finally, UBS Group AG raised its holdings in shares of Etsy by 30.7% in the 1st quarter. UBS Group AG now owns 10,091 shares of the specialty retailer’s stock valued at $108,000 after purchasing an additional 2,373 shares during the period. 73.04% of the stock is currently owned by institutional investors.
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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