Zacks Investment Research upgraded shares of Etsy (NASDAQ:ETSY) from a hold rating to a buy rating in a report published on Wednesday, Zacks.com reports. Zacks Investment Research currently has $72.00 price objective on the specialty retailer’s stock.
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 research analysts have also commented on ETSY. BidaskClub lowered shares of Zynerba Pharmaceuticals from a buy rating to a hold rating in a research note on Wednesday, June 26th. Stifel Nicolaus upgraded shares of Kimbell Royalty Partners from a hold rating to a buy rating and set a $19.00 price objective for the company in a research note on Thursday, May 9th. Roth Capital increased their price objective on shares of Etsy from $72.00 to $76.00 and gave the company a buy rating in a research note on Wednesday, May 1st. TheStreet lowered shares of WESCO International from a b- rating to a c+ rating in a research note on Friday, May 24th. Finally, Royal Bank of Canada reiterated a neutral rating on shares of Prudential Public in a research note on Wednesday, March 13th. Eight investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Etsy currently has an average rating of Buy and an average price target of $70.25.
Shares of NASDAQ ETSY opened at $64.60 on Wednesday. Etsy has a fifty-two week low of $38.02 and a fifty-two week high of $73.35. The company has a market cap of $7.76 billion, a PE ratio of 105.90, a price-to-earnings-growth ratio of 4.26 and a beta of 0.92. The company has a debt-to-equity ratio of 0.81, a quick ratio of 4.87 and a current ratio of 4.87. The company has a 50-day simple moving average of $64.45.
Etsy (NASDAQ:ETSY) last announced its quarterly earnings results on Wednesday, May 8th. The specialty retailer reported $0.24 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.10. The business had revenue of $169.33 million for the quarter, compared to analysts’ expectations of $170.72 million. Etsy had a net margin of 14.74% and a return on equity of 24.24%. The firm’s revenue for the quarter was up 40.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.10 EPS. As a group, equities analysts predict that Etsy will post 0.79 EPS for the current fiscal year.
In other news, CTO Michael T. Fisher sold 5,209 shares of the firm’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $61.31, for a total transaction of $319,363.79. Following the completion of the sale, the chief technology officer now owns 32,435 shares in the company, valued at approximately $1,988,589.85. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Goyal Kruti Patel sold 4,505 shares of the firm’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $61.80, for a total transaction of $278,409.00. Following the sale, the senior vice president now owns 16,389 shares of the company’s stock, valued at approximately $1,012,840.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 85,656 shares of company stock valued at $5,691,884. 3.00% of the stock is currently owned by company insiders.
Several hedge funds have recently modified their holdings of the company. WINTON GROUP Ltd boosted its holdings in Etsy by 22.6% in the 2nd quarter. WINTON GROUP Ltd now owns 15,219 shares of the specialty retailer’s stock valued at $934,000 after purchasing an additional 2,805 shares during the period. Amundi Pioneer Asset Management Inc. bought a new position in Etsy in the 1st quarter valued at $1,681,000. Nordea Investment Management AB boosted its holdings in Etsy by 1.3% in the 1st quarter. Nordea Investment Management AB now owns 98,156 shares of the specialty retailer’s stock valued at $6,599,000 after purchasing an additional 1,235 shares during the period. GYL Financial Synergies LLC bought a new position in Etsy in the 1st quarter valued at $838,000. Finally, Rehmann Capital Advisory Group boosted its holdings in Etsy by 2,408.7% in the 1st quarter. Rehmann Capital Advisory Group now owns 1,731 shares of the specialty retailer’s stock valued at $116,000 after purchasing an additional 1,662 shares during the period. Institutional investors own 95.58% of the company’s stock.
Etsy Company Profile
Etsy, Inc operates Etsy.com, a commerce platform to make, sell, and buy goods online and offline primarily in the United States, United Kingdom, Canada, Australia, France, and Germany. It provides various seller services and tools that are designed to help entrepreneurs for starting, managing, and scaling their businesses.
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