Etsy (NYSE:ETSY) Stock Rating Upgraded by Rosenblatt Securities

Etsy (NYSE:ETSY) was upgraded by equities researchers at Rosenblatt Securities to a “strong-buy” rating in a research note issued to investors on Wednesday,Zacks.com reports.

A number of other research firms have also recently issued reports on ETSY. Seaport Research Partners upgraded shares of Etsy to a “buy” rating in a report on Thursday. Weiss Ratings lowered shares of Etsy from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, August 6th. Arete Research set a $76.00 price objective on Etsy and gave the company a “buy” rating in a research note on Wednesday, May 20th. Sanford C. Bernstein upgraded shares of Etsy from a “hold” rating to an “outperform” rating in a research report on Thursday. Finally, Guggenheim raised their price objective on shares of Etsy from $85.00 to $95.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eighteen have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $84.68.

Etsy Price Performance

ETSY stock opened at $81.30 on Wednesday. The firm has a market cap of $7.72 billion, a PE ratio of 45.42, a P/E/G ratio of 5.51 and a beta of 1.84. The firm has a 50 day simple moving average of $79.54 and a 200 day simple moving average of $65.08. Etsy has a 12 month low of $44.00 and a 12 month high of $87.97.

Etsy (NYSE:ETSY) last released its earnings results on Wednesday, August 5th. The company reported ($0.49) earnings per share for the quarter, missing the consensus estimate of $0.75 by ($1.24). The firm had revenue of $668.31 million during the quarter, compared to analysts’ expectations of $646.10 million. Etsy had a negative return on equity of 34.18% and a net margin of 7.32%.The business’s revenue was down .7% on a year-over-year basis. During the same period last year, the business earned $0.25 earnings per share. As a group, sell-side analysts expect that Etsy will post 3.94 earnings per share for the current year.

Insider Transactions at Etsy

In other news, insider Josh Silverman sold 134,730 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $68.89, for a total transaction of $9,281,549.70. Following the transaction, the insider directly owned 130,694 shares in the company, valued at approximately $9,003,509.66. This represents a 50.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frederick R. Wilson sold 20,000 shares of the stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $83.22, for a total transaction of $1,664,400.00. Following the sale, the director directly owned 421,329 shares in the company, valued at $35,062,999.38. This trade represents a 4.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 584,967 shares of company stock valued at $43,908,631. Insiders own 2.50% of the company’s stock.

Institutional Trading of Etsy

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. PYA Waltman Capital LLC lifted its position in Etsy by 3.7% during the 2nd quarter. PYA Waltman Capital LLC now owns 68,185 shares of the company’s stock valued at $5,136,000 after purchasing an additional 2,412 shares during the period. Headlands Technologies LLC acquired a new stake in shares of Etsy during the 2nd quarter worth approximately $1,045,000. Two Sigma Securities LLC bought a new stake in shares of Etsy during the second quarter worth approximately $804,000. Northwestern Mutual Wealth Management Co. raised its stake in shares of Etsy by 49.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 9,159 shares of the company’s stock worth $690,000 after buying an additional 3,048 shares during the last quarter. Finally, Empowered Funds LLC acquired a new position in Etsy in the second quarter valued at about $3,548,000. 99.53% of the stock is owned by institutional investors.

More Etsy News

Here are the key news stories impacting Etsy this week:

• Positive Sentiment: Bank of America upgraded Etsy to Buy from Neutral and raised its price target to $95 from $88. The firm said recent growth appears increasingly structural rather than a temporary spike, while management’s execution under CEO Kruti Patel Goyal has been better than expected. Etsy upgraded to buy at BofA on durable growth, buyback potential
• Positive Sentiment: BofA highlighted stronger mobile engagement, conservative company estimates and the possibility of more than $1 billion in share repurchases following Etsy’s Depop sale. Buybacks could support earnings per share and provide demand for the stock. Does BofA’s Upgrade and Buyback Boost Change the Bull Case For Etsy
• Positive Sentiment: Rosenblatt Securities initiated coverage with a Buy rating and a $95 price target, implying additional upside from recent trading levels. The firm favored Etsy as improving execution offsets concerns about slower e-commerce market growth. Rosenblatt sees further upside for eBay, Etsy, and Wayfair
• Neutral Sentiment: Goldman Sachs began research coverage of Etsy, although the available report does not disclose a rating or price target. The new coverage may increase institutional attention but offers no clear valuation signal yet. Etsy Research Coverage Started at The Goldman Sachs Group
• Neutral Sentiment: At roughly $81, Etsy remains near its 52-week high and above its 50-day and 200-day moving averages. However, its elevated valuation and mixed analyst consensus leave the stock vulnerable if growth or buyback plans disappoint.
• Negative Sentiment: Two insiders reported sales under pre-arranged Rule 10b5-1 plans: Director Marla Blow sold 300 shares, while Chief Accounting Officer Merilee Buckley sold 405 shares. The transactions were modest in dollar value and appear scheduled, limiting their significance, but they still provide a minor negative signal. Etsy Director Marla Blow Sells 300 Shares

Etsy Company Profile

Etsy, Inc operates two-sided online marketplaces that connect buyers and sellers primarily in the United States, the United Kingdom, Germany, Canada, Australia, France, and India. Its primary marketplace is Etsy.com that connects artisans and entrepreneurs with various consumers. The company also offers Reverb, a musical instrument marketplace; Depop, a fashion resale marketplace; and Elo7, a Brazil-based marketplace for handmade and unique items. In addition, it offers various seller services, including Etsy Payments, a payment processing service; Etsy Ads, an advertising platform; and Shipping Labels, which allows sellers in the United States, Canada, the United Kingdom, Australia, and India to purchase discounted shipping labels.