Zacks Investment Research Downgrades Etsy (ETSY) to Sell

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Etsy (NASDAQ:ETSY) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Tuesday, Zacks.com reports.

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. “

ETSY has been the topic of a number of other research reports. Morgan Stanley lifted their price target on shares of Etsy from $49.00 to $65.00 and gave the company an “equal weight” rating in a research note on Monday, March 11th. CIBC assumed coverage on shares of Etsy in a research note on Friday, March 29th. They issued a “market perform” rating on the stock. BidaskClub raised shares of Etsy from a “hold” rating to a “buy” rating in a research note on Friday, March 1st. Goldman Sachs Group raised shares of Etsy from a “neutral” rating to a “buy” rating and lifted their price target for the company from $46.00 to $54.00 in a research note on Friday, January 4th. Finally, Roth Capital lifted their price target on shares of Etsy from $64.00 to $72.00 and gave the company a “buy” rating in a research note on Tuesday, February 26th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $67.80.

Shares of NASDAQ ETSY opened at $66.79 on Tuesday. The company has a market cap of $8.03 billion, a PE ratio of 109.49, a PEG ratio of 4.90 and a beta of 0.98. Etsy has a 12 month low of $28.08 and a 12 month high of $73.35. The company has a debt-to-equity ratio of 0.84, a quick ratio of 6.07 and a current ratio of 6.07.

Etsy (NASDAQ:ETSY) last issued its quarterly earnings data on Monday, February 25th. The specialty retailer reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.06. Etsy had a net margin of 12.84% and a return on equity of 20.00%. The business had revenue of $200.00 million for the quarter, compared to analysts’ expectations of $194.77 million. During the same quarter last year, the company earned $0.36 EPS. The business’s revenue was up 46.7% on a year-over-year basis. As a group, analysts forecast that Etsy will post 0.71 EPS for the current fiscal year.

In other Etsy news, SVP Goyal Kruti Patel sold 3,753 shares of the firm’s stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $69.69, for a total value of $261,546.57. Following the transaction, the senior vice president now owns 16,389 shares in the company, valued at approximately $1,142,149.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Michael T. Fisher sold 2,604 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $69.37, for a total value of $180,639.48. Following the completion of the transaction, the chief technology officer now owns 30,968 shares in the company, valued at approximately $2,148,250.16. The disclosure for this sale can be found here. Insiders sold a total of 126,993 shares of company stock worth $8,705,705 in the last 90 days. 3.00% of the stock is currently owned by insiders.

Hedge funds have recently made changes to their positions in the business. Advisors Asset Management Inc. purchased a new position in Etsy in the 4th quarter valued at $810,000. Two Sigma Securities LLC lifted its holdings in Etsy by 80.0% in the 4th quarter. Two Sigma Securities LLC now owns 4,768 shares of the specialty retailer’s stock valued at $227,000 after purchasing an additional 2,119 shares in the last quarter. Lisanti Capital Growth LLC purchased a new position in Etsy in the 4th quarter valued at $3,818,000. Metropolitan Life Insurance Co. NY lifted its holdings in Etsy by 349.7% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 38,026 shares of the specialty retailer’s stock valued at $1,809,000 after purchasing an additional 29,570 shares in the last quarter. Finally, Macquarie Group Ltd. lifted its holdings in Etsy by 410.8% in the 3rd quarter. Macquarie Group Ltd. now owns 33,715 shares of the specialty retailer’s stock valued at $1,732,000 after purchasing an additional 27,115 shares in the last quarter. Institutional investors own 94.27% 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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