Etsy Inc. (ETSY) PT Raised to $17.00 at Maxim Group
Etsy Inc. (NASDAQ:ETSY) had its price target raised by research analysts at Maxim Group from $15.00 to $17.00 in a note issued to investors on Monday. The firm presently has a “buy” rating on the stock. Maxim Group’s price target indicates a potential upside of 15.65% from the company’s current price.
Other research analysts have also recently issued research reports about the company. Loop Capital began coverage on Etsy in a research note on Tuesday, September 13th. They set a “hold” rating and a $14.00 target price on the stock. Morgan Stanley reaffirmed an “equal weight” rating and set a $13.50 target price (up previously from $11.50) on shares of Etsy in a research note on Monday, September 12th. Monness Crespi & Hardt raised Etsy from a “neutral” rating to a “buy” rating and set a $17.00 target price on the stock in a research note on Wednesday, September 21st. Vetr cut Etsy from a “strong-buy” rating to a “buy” rating and set a $12.44 target price on the stock. in a research note on Monday, August 1st. Finally, Zacks Investment Research cut Etsy from a “buy” rating to a “hold” rating in a research note on Monday, August 22nd. Ten equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $14.09.
Etsy (NASDAQ:ETSY) opened at 14.70 on Monday. The company’s 50-day moving average price is $14.00 and its 200-day moving average price is $10.54. Etsy has a 52-week low of $6.04 and a 52-week high of $15.70. The company’s market cap is $1.63 billion.
Etsy (NASDAQ:ETSY) last issued its quarterly earnings data 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 company had revenue of $85.35 million for the quarter, compared to the consensus estimate of $80.55 million. During the same period in the previous year, the firm earned ($0.07) earnings per share. The company’s revenue was up 38.9% compared to the same quarter last year. Equities research analysts expect that Etsy will post ($0.01) EPS for the current fiscal year.
In other news, CFO Kristina Salen sold 63,161 shares of the stock in a transaction on Friday, September 23rd. The stock was sold at an average price of $15.00, for a total transaction of $947,415.00. Following the completion of the sale, the chief financial officer now owns 64,903 shares in the company, valued at approximately $973,545. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider John Allspaw sold 63,468 shares of the stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $12.50, for a total value of $793,350.00. Following the sale, the insider now owns 66,864 shares of the company’s stock, valued at approximately $835,800. The disclosure for this sale can be found here. Company insiders own 11.10% of the company’s stock.
Several hedge funds have recently modified their holdings of ETSY. BlackRock Inc. raised its stake in shares of Etsy by 341.2% in the second quarter. BlackRock Inc. now owns 10,615 shares of the company’s stock valued at $102,000 after buying an additional 8,209 shares in the last quarter. TFS Capital LLC acquired a new stake in shares of Etsy during the second quarter valued at approximately $102,000. Legal & General Group Plc raised its stake in shares of Etsy by 1,829.4% in the second quarter. Legal & General Group Plc now owns 11,017 shares of the company’s stock valued at $104,000 after buying an additional 10,446 shares in the last quarter. ProShare Advisors LLC acquired a new stake in shares of Etsy during the second quarter valued at approximately $123,000. Finally, Pacad Investment Ltd. acquired a new stake in shares of Etsy during the first quarter valued at approximately $131,000. Hedge funds and other institutional investors own 58.14% of the company’s stock.
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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