Wedbush Reaffirms Neutral Rating for Etsy Inc. (ETSY)
Etsy Inc. (NASDAQ:ETSY)‘s stock had its “neutral” rating reiterated by investment analysts at Wedbush in a report issued on Thursday. They presently have a $15.00 price objective on the stock, up from their prior price objective of $13.00. Wedbush’s price objective suggests a potential upside of 3.59% from the company’s previous close.
ETSY has been the subject of a number of other reports. Citigroup Inc. began coverage on Etsy in a report on Monday, August 1st. They set a “buy” rating and a $14.00 price objective for the company. Zacks Investment Research raised shares of Etsy from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a research report on Friday, August 5th. Roth Capital raised shares of Etsy from a “sell” rating to a “neutral” rating and upped their price target for the stock from $6.50 to $14.25 in a research report on Wednesday, August 3rd. Maxim Group upped their price target on shares of Etsy from $12.00 to $15.00 and gave the stock a “buy” rating in a research report on Wednesday, August 3rd. Finally, TheStreet raised shares of Etsy from a “sell” rating to a “hold” rating in a research report on Wednesday, August 3rd. 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 a consensus rating of “Hold” and an average target price of $14.73.
Etsy (NASDAQ:ETSY) traded down 2.29% during mid-day trading on Thursday, hitting $14.48. The stock had a trading volume of 1,061,558 shares. The stock’s market cap is $1.61 billion. The company has a 50 day moving average price of $14.35 and a 200 day moving average price of $11.06. Etsy has a one year low of $6.04 and a one year high of $16.05.
Etsy (NASDAQ:ETSY) last released its quarterly earnings data on Tuesday, August 2nd. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by $0.05. The firm had revenue of $85.35 million for the quarter, compared to analyst estimates of $80.55 million. Etsy had a negative return on equity of 3.08% and a negative net margin of 5.37%. The company’s quarterly revenue was up 38.9% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.07) earnings per share. On average, equities analysts anticipate that Etsy will post ($0.06) EPS for the current year.
In other news, Director Frederick R. Wilson sold 216,399 shares of the stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $13.61, for a total transaction of $2,945,190.39. Following the transaction, the director now owns 822,062 shares of the company’s stock, valued at $11,188,263.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John Allspaw sold 63,468 shares of the stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $12.50, for a total transaction of $793,350.00. Following the transaction, the insider now directly owns 66,864 shares in the company, valued at approximately $835,800. The disclosure for this sale can be found here. Insiders own 11.10% of the company’s stock.
Institutional investors have recently modified their holdings of the company. BNP Paribas Arbitrage SA boosted its position in shares of Etsy by 107.6% in the third quarter. BNP Paribas Arbitrage SA now owns 8,598 shares of the company’s stock valued at $123,000 after buying an additional 4,456 shares during the last quarter. BlackRock Inc. raised its stake in 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 during the period. TFS Capital LLC acquired a new stake in Etsy during the second quarter valued at $102,000. Legal & General Group Plc raised its stake in 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 during the period. Finally, Amalgamated Bank acquired a new stake in Etsy during the second quarter valued at $161,000. 58.14% of the stock is currently owned by institutional investors and hedge funds.
Etsy Company Profile
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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