Etsy Inc. (ETSY) PT Raised to $20.00
Etsy Inc. (NASDAQ:ETSY) had its price target raised by investment analysts at Citigroup Inc. from $16.00 to $20.00 in a research report issued to clients and investors on Friday. The brokerage presently has a “buy” rating on the stock. Citigroup Inc.’s target price indicates a potential upside of 32.19% from the company’s previous close.
A number of other equities analysts have also recently commented on the company. Goldman Sachs Group Inc. lifted their target price on Etsy from $11.00 to $14.00 and gave the stock a “neutral” rating in a report on Wednesday, August 3rd. Zacks Investment Research cut Etsy from a “buy” rating to a “hold” rating in a report on Monday, August 22nd. Monness Crespi & Hardt upgraded Etsy from a “neutral” rating to a “buy” rating and set a $17.00 target price for the company in a report on Wednesday, September 21st. Morgan Stanley reiterated an “equal weight” rating and issued a $13.50 target price (up previously from $11.50) on shares of Etsy in a report on Monday, September 12th. Finally, RBC Capital Markets reiterated a “neutral” rating and issued a $13.00 target price (up previously from $11.00) on shares of Etsy in a report on Friday, August 5th. Ten analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Etsy presently has a consensus rating of “Hold” and an average target price of $14.59.
Etsy (NASDAQ:ETSY) traded up 5.02% during trading on Friday, reaching $15.89. The company’s stock had a trading volume of 922,016 shares. The company’s market capitalization is $1.76 billion. Etsy has a 12-month low of $6.04 and a 12-month high of $16.05. The firm’s 50-day moving average price is $14.14 and its 200 day moving average price is $10.80.
Etsy (NASDAQ:ETSY) last announced its earnings results on Tuesday, August 2nd. The company reported ($0.06) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.01) by $0.05. The company earned $85.35 million during the quarter, compared to analysts’ expectations of $80.55 million. Etsy had a negative return on equity of 3.08% and a negative net margin of 5.37%. Etsy’s revenue for the quarter was up 38.9% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.07) EPS. On average, analysts predict that Etsy will post ($0.06) earnings per share for the current fiscal year.
In other Etsy news, insider John Allspaw sold 63,468 shares of Etsy stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $12.50, for a total transaction of $793,350.00. Following the completion of the sale, the insider now directly owns 66,864 shares of the company’s stock, valued at approximately $835,800. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Kristina Salen sold 20,000 shares of Etsy stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $15.00, for a total value of $300,000.00. Following the sale, the chief financial officer now directly owns 4,706 shares of the company’s stock, valued at $70,590. The disclosure for this sale can be found here. Corporate insiders own 11.10% of the company’s stock.
A number of large investors have recently modified their holdings of ETSY. Pacad Investment Ltd. purchased a new stake in shares of Etsy during the first quarter worth $131,000. JPMorgan Chase & Co. raised its stake in shares of Etsy by 42.6% in the first quarter. JPMorgan Chase & Co. now owns 543,251 shares of the company’s stock worth $4,726,000 after buying an additional 162,213 shares during the period. State Street Corp raised its stake in shares of Etsy by 8.2% in the first quarter. State Street Corp now owns 289,808 shares of the company’s stock worth $2,523,000 after buying an additional 21,896 shares during the period. Geode Capital Management LLC raised its stake in shares of Etsy by 3.9% in the first quarter. Geode Capital Management LLC now owns 169,884 shares of the company’s stock worth $1,477,000 after buying an additional 6,370 shares during the period. Finally, Bayesian Capital Management LP purchased a new stake in shares of Etsy during the first quarter worth $177,000. 58.14% of the stock is 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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