Etsy Inc. (NASDAQ:ETSY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Monday. The firm presently has a $16.00 target price on the stock. Zacks Investment Research’s price target would suggest a potential upside of 8.70% from the stock’s current price.
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. “
Other analysts have also recently issued reports about the company. Vetr cut Etsy from a “strong-buy” rating to a “buy” rating and set a $12.44 price objective on the stock. in a report on Monday, August 1st. Citigroup Inc. initiated coverage on Etsy in a report on Monday, August 1st. They set a “buy” rating and a $14.00 price objective on the stock. Maxim Group upped their price objective on Etsy from $12.00 to $15.00 and gave the stock a “buy” rating in a report on Wednesday, August 3rd. Monness Crespi & Hardt raised Etsy from a “neutral” rating to a “buy” rating and set a $17.00 price objective on the stock in a report on Wednesday, September 21st. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $13.50 price objective (up from $11.50) on shares of Etsy in a report on Monday, September 12th. Nine equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $14.16.
Etsy (NASDAQ:ETSY) traded up 3.08% during mid-day trading on Monday, reaching $14.72. 2,401,498 shares of the company traded hands. Etsy has a 12-month low of $6.04 and a 12-month high of $15.70. The firm’s market capitalization is $1.63 billion. The company’s 50 day moving average price is $14.04 and its 200 day moving average price is $10.63.
Etsy (NASDAQ:ETSY) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported ($0.06) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by $0.05. Etsy had a negative return on equity of 3.08% and a negative net margin of 5.37%. The business earned $85.35 million during the quarter, compared to the consensus estimate of $80.55 million. During the same quarter in the previous year, the company earned ($0.07) earnings per share. The company’s revenue for the quarter was up 38.9% compared to the same quarter last year. Equities research analysts predict that Etsy will post ($0.06) EPS for the current year.
In other news, CFO Kristina Salen sold 156,839 shares of the stock in a transaction on Wednesday, September 21st. The stock was sold at an average price of $15.00, for a total transaction of $2,352,585.00. Following the transaction, the chief financial officer now owns 158,581 shares of the company’s stock, valued at approximately $2,378,715. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider John Allspaw sold 63,468 shares of the stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $12.50, for a total value of $793,350.00. Following the transaction, the insider now directly owns 66,864 shares in the company, valued at approximately $835,800. The disclosure for this sale can be found here. 11.10% of the stock is owned by company insiders.
Institutional investors have recently bought and sold shares of the company. BlackRock Fund Advisors increased its position in Etsy by 401.1% in the second quarter. BlackRock Fund Advisors now owns 2,462,098 shares of the company’s stock worth $23,612,000 after buying an additional 1,970,739 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Etsy by 28.7% in the second quarter. Vanguard Group Inc. now owns 5,425,487 shares of the company’s stock worth $52,031,000 after buying an additional 1,210,862 shares during the last quarter. State Street Corp increased its stake in shares of Etsy by 416.3% in the second quarter. State Street Corp now owns 1,496,378 shares of the company’s stock worth $14,350,000 after buying an additional 1,206,570 shares during the last quarter. Lord Abbett & CO. LLC increased its stake in shares of Etsy by 396.8% in the second quarter. Lord Abbett & CO. LLC now owns 1,327,915 shares of the company’s stock worth $12,735,000 after buying an additional 1,060,646 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. increased its stake in shares of Etsy by 206.9% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,307,356 shares of the company’s stock worth $12,538,000 after buying an additional 881,323 shares during the last quarter. 58.14% of the stock is currently owned by institutional investors and hedge funds.
Etsy, Inc (Etsy) operates a marketplace to connect people around the both online and offline for making, selling and buying goods. The Company’s geographical segments include United States and International. The Company’s community includes Etsy sellers, Etsy buyers, wholesale partners, manufacturers and Etsy employees.
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