Etsy (NYSE:ETSY) Upgraded at Rosenblatt Securities

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

A number of other research firms also recently issued reports on ETSY. Susquehanna downgraded shares of Etsy to a “neutral” rating in a research report on Thursday, May 21st. Needham & Company LLC lifted their price objective on shares of Etsy from $85.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Morgan Stanley raised shares of Etsy from an “underweight” rating to an “outperform” rating in a report on Thursday. B. Riley Financial boosted their price objective on Etsy from $75.00 to $82.00 and gave the company a “neutral” rating in a research report on Monday, August 10th. Finally, Jefferies Financial Group boosted their price target on shares of Etsy from $62.00 to $80.00 and gave the company a “hold” rating in a research report on Tuesday, July 14th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eighteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Etsy presently has an average rating of “Hold” and a consensus price target of $84.68.

Etsy Trading Up 1.0%

Shares of NYSE ETSY opened at $81.30 on Wednesday. Etsy has a 1-year low of $44.00 and a 1-year high of $87.97. The business’s 50 day moving average is $79.54 and its 200-day moving average is $65.08. The firm has a market cap of $7.72 billion, a P/E ratio of 45.42, a price-to-earnings-growth ratio of 5.51 and a beta of 1.84.

Etsy (NYSE:ETSY) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.49) EPS for the quarter, missing analysts’ consensus estimates of $0.75 by ($1.24). Etsy had a negative return on equity of 34.18% and a net margin of 7.32%.The company had revenue of $668.31 million for the quarter, compared to the consensus estimate of $646.10 million. During the same quarter last year, the business earned $0.25 EPS. Etsy’s revenue was down .7% on a year-over-year basis. Analysts forecast that Etsy will post 3.94 EPS for the current year.

Insider Buying and Selling

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

Institutional Investors Weigh In On Etsy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. EFG International AG purchased a new position in Etsy during the fourth quarter valued at approximately $33,000. Global Retirement Partners LLC acquired a new stake in Etsy in the 2nd quarter valued at approximately $34,000. Blue Trust Inc. grew its position in Etsy by 19.3% in the 1st quarter. Blue Trust Inc. now owns 1,238 shares of the company’s stock valued at $62,000 after acquiring an additional 200 shares in the last quarter. Danske Bank A S purchased a new stake in shares of Etsy during the third quarter worth $66,000. Finally, Federation des caisses Desjardins du Quebec raised its holdings in Etsy by 22.8% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 1,210 shares of the company’s stock valued at $67,000 after acquiring an additional 225 shares in the last quarter. 99.53% of the stock is currently owned by hedge funds and other institutional investors.

Etsy News Summary

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

About Etsy

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.