Etsy (NASDAQ:ETSY) Given New $115.00 Price Target at KeyCorp

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Etsy (NASDAQ:ETSY) had its target price upped by KeyCorp from $90.00 to $115.00 in a report issued on Tuesday morning, BenzingaRatingsTable reports. KeyCorp currently has an overweight rating on the specialty retailer’s stock. KeyCorp also issued estimates for Etsy’s Q2 2020 earnings at $0.49 EPS, Q1 2021 earnings at $0.18 EPS and Q4 2021 earnings at $0.95 EPS.

Several other brokerages have also recently issued reports on ETSY. Roth Capital lifted their target price on Etsy from $61.00 to $67.00 and gave the stock a neutral rating in a report on Thursday, May 21st. Needham & Company LLC boosted their price objective on Etsy from $45.00 to $88.00 and gave the stock a buy rating in a research note on Thursday, May 7th. Jefferies Financial Group raised Etsy from a hold rating to a buy rating and boosted their price objective for the stock from $71.00 to $110.00 in a research note on Wednesday, June 10th. Goldman Sachs Group boosted their price objective on Etsy from $88.00 to $120.00 and gave the stock a buy rating in a research note on Monday, June 22nd. They noted that the move was a valuation call. Finally, BTIG Research cut Etsy from a buy rating to a neutral rating in a research note on Sunday, April 19th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of Buy and an average price target of $87.81.

NASDAQ ETSY opened at $106.23 on Tuesday. The company has a market capitalization of $12.21 billion, a PE ratio of 174.15, a price-to-earnings-growth ratio of 4.36 and a beta of 1.69. The company has a debt-to-equity ratio of 2.08, a quick ratio of 5.71 and a current ratio of 5.71. The business’s fifty day moving average is $84.15 and its 200 day moving average is $59.36. Etsy has a fifty-two week low of $29.95 and a fifty-two week high of $107.32.

Etsy (NASDAQ:ETSY) last announced its quarterly earnings data on Wednesday, May 6th. The specialty retailer reported $0.10 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($0.08). Etsy had a net margin of 8.76% and a return on equity of 18.68%. The business had revenue of $228.05 million during the quarter, compared to analysts’ expectations of $219.34 million. During the same quarter in the previous year, the firm earned $0.24 earnings per share. Etsy’s revenue was up 34.7% on a year-over-year basis. On average, sell-side analysts forecast that Etsy will post 1.05 EPS for the current year.

In related news, insider Jill Simeone sold 18,000 shares of the business’s stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $97.53, for a total value of $1,755,540.00. Following the completion of the sale, the insider now owns 15,468 shares in the company, valued at $1,508,594.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jonathan D. Klein sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $100.00, for a total value of $2,500,000.00. Following the completion of the sale, the director now owns 79,613 shares of the company’s stock, valued at approximately $7,961,300. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 308,090 shares of company stock worth $22,537,118. Insiders own 3.80% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in ETSY. Bessemer Group Inc. boosted its holdings in shares of Etsy by 201.4% in the first quarter. Bessemer Group Inc. now owns 663 shares of the specialty retailer’s stock valued at $25,000 after purchasing an additional 443 shares during the period. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Etsy in the first quarter valued at approximately $27,000. Sowell Financial Services LLC lifted its holdings in Etsy by 23.4% during the first quarter. Sowell Financial Services LLC now owns 1,035 shares of the specialty retailer’s stock worth $40,000 after buying an additional 196 shares during the period. Citizens Financial Group Inc RI lifted its holdings in Etsy by 43.8% during the first quarter. Citizens Financial Group Inc RI now owns 1,339 shares of the specialty retailer’s stock worth $51,000 after buying an additional 408 shares during the period. Finally, Keebeck Wealth Management LLC purchased a new stake in Etsy during the fourth quarter worth $53,000. Hedge funds and other institutional investors own 97.95% 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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Analyst Recommendations for Etsy (NASDAQ:ETSY)

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