Etsy’s (ETSY) Buy Rating Reiterated at Citigroup Inc.
Etsy Inc. (NASDAQ:ETSY)‘s stock had its “buy” rating reiterated by research analysts at Citigroup Inc. in a note issued to investors on Tuesday.
Other equities analysts have also recently issued research reports about the stock. Zacks Investment Research cut shares of Etsy from a “buy” rating to a “hold” rating in a research note on Tuesday, October 4th. Maxim Group lifted their price objective on shares of Etsy from $15.00 to $17.00 and gave the stock a “buy” rating in a research note on Monday, September 26th. Wedbush reaffirmed a “neutral” rating and issued a $15.00 price objective (up previously from $13.00) on shares of Etsy in a research note on Thursday, October 13th. TheStreet raised shares of Etsy from a “sell” rating to a “hold” rating in a research note on Wednesday, August 3rd. Finally, RBC Capital Markets reaffirmed a “neutral” rating and issued a $13.00 price objective (up previously from $11.00) on shares of Etsy in a research note on Friday, August 5th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $15.46.
Etsy (NASDAQ:ETSY) opened at 12.84 on Tuesday. The firm’s 50-day moving average is $13.05 and its 200-day moving average is $12.00. The stock’s market cap is $1.43 billion. Etsy has a 1-year low of $6.04 and a 1-year high of $16.05.
Etsy (NASDAQ:ETSY) last released its quarterly earnings results on Tuesday, November 1st. The company reported ($0.02) EPS for the quarter, hitting analysts’ consensus estimates of ($0.02). Etsy had a negative net margin of 3.72% and a negative return on equity of 1.69%. The company had revenue of $87.56 million for the quarter, compared to the consensus estimate of $86.79 million. During the same period in the previous year, the firm earned ($0.06) EPS. Etsy’s revenue was up 33.3% on a year-over-year basis. On average, analysts forecast that Etsy will post ($0.05) EPS for the current year.
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In related news, CFO Kristina Salen sold 156,839 shares of the firm’s stock in a transaction that occurred on Wednesday, September 21st. The shares were sold at an average price of $15.00, for a total transaction of $2,352,585.00. Following the completion of the sale, the chief financial officer now directly owns 158,581 shares in the company, valued at $2,378,715. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider John Allspaw sold 36,532 shares of the firm’s stock in a transaction that occurred on Wednesday, September 21st. The stock was sold at an average price of $15.00, for a total transaction of $547,980.00. Following the sale, the insider now owns 39,928 shares of the company’s stock, valued at $598,920. The disclosure for this sale can be found here. Corporate insiders own 11.10% of the company’s stock.
A number of hedge funds have recently bought and sold shares of ETSY. BlackRock Fund Advisors boosted its stake in Etsy by 401.1% in the second quarter. BlackRock Fund Advisors now owns 2,462,098 shares of the company’s stock worth $23,612,000 after buying an additional 1,970,739 shares during the period. Joho Capital LLC boosted its stake in Etsy by 571.8% in the third quarter. Joho Capital LLC now owns 2,104,162 shares of the company’s stock worth $30,047,000 after buying an additional 1,790,949 shares during the period. Vanguard Group Inc. boosted its stake in Etsy by 28.7% in the second quarter. Vanguard Group Inc. now owns 5,425,487 shares of the company’s stock worth $52,031,000 after buying an additional 1,210,862 shares during the period. State Street Corp boosted its stake in Etsy by 416.3% in the second quarter. State Street Corp now owns 1,496,378 shares of the company’s stock worth $14,350,000 after buying an additional 1,206,570 shares during the period. Finally, Lord Abbett & CO. LLC boosted its stake in Etsy by 396.8% in the second quarter. Lord Abbett & CO. LLC now owns 1,327,915 shares of the company’s stock worth $12,735,000 after buying an additional 1,060,646 shares during the period. Hedge funds and other institutional investors own 61.60% 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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