Etsy, Inc. (ETSY) Upgraded at BidaskClub
BidaskClub upgraded shares of Etsy, Inc. (NASDAQ:ETSY) from a hold rating to a buy rating in a research note issued to investors on Saturday morning.
ETSY has been the topic of several other research reports. Zacks Investment Research cut shares of Etsy from a hold rating to a sell rating in a report on Monday, May 1st. TheStreet upgraded shares of Etsy from a d rating to a c- rating in a report on Wednesday, May 24th. Maxim Group set a $17.00 price target on shares of Etsy and gave the company a buy rating in a report on Wednesday, June 21st. Loop Capital reiterated a buy rating and issued a $13.00 price target (down previously from $16.00) on shares of Etsy in a report on Wednesday, May 3rd. Finally, Stifel Nicolaus reiterated a hold rating and issued a $13.00 price target on shares of Etsy in a report on Friday, June 23rd. Ten analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Etsy presently has a consensus rating of Hold and an average target price of $14.62.
Shares of Etsy (NASDAQ:ETSY) opened at 15.83 on Friday. Etsy has a 12-month low of $9.41 and a 12-month high of $16.69. The firm has a 50-day moving average of $15.12 and a 200 day moving average of $12.82. The firm’s market capitalization is $1.76 billion.
Etsy (NASDAQ:ETSY) last released its quarterly earnings results on Thursday, August 3rd. The specialty retailer reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.06. The business had revenue of $101.70 million for the quarter, compared to analysts’ expectations of $101.14 million. Etsy had a negative net margin of 3.16% and a positive return on equity of 3.83%. The firm’s revenue for the quarter was up 19.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.06) earnings per share. On average, equities research analysts expect that Etsy will post $0.27 earnings per share for the current year.
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In other Etsy news, CEO Josh Silverman bought 64,000 shares of the company’s stock in a transaction dated Tuesday, August 8th. The shares were purchased at an average price of $15.67 per share, for a total transaction of $1,002,880.00. Following the acquisition, the chief executive officer now owns 64,000 shares in the company, valued at approximately $1,002,880. The purchase was disclosed in a filing with the SEC, which is available at this link. Insiders own 4.00% of the company’s stock.
Several hedge funds have recently made changes to their positions in ETSY. Ameritas Investment Partners Inc. boosted its stake in shares of Etsy by 12.0% in the second quarter. Ameritas Investment Partners Inc. now owns 10,160 shares of the specialty retailer’s stock worth $152,000 after buying an additional 1,092 shares during the period. Principal Financial Group Inc. boosted its stake in shares of Etsy by 9.0% in the second quarter. Principal Financial Group Inc. now owns 16,099 shares of the specialty retailer’s stock worth $241,000 after buying an additional 1,330 shares during the period. Amalgamated Bank boosted its stake in shares of Etsy by 14.9% in the second quarter. Amalgamated Bank now owns 14,788 shares of the specialty retailer’s stock worth $222,000 after buying an additional 1,920 shares during the period. Royal Bank of Canada boosted its stake in shares of Etsy by 30.3% in the second quarter. Royal Bank of Canada now owns 8,812 shares of the specialty retailer’s stock worth $133,000 after buying an additional 2,049 shares during the period. Finally, UBS Group AG boosted its stake in shares of Etsy by 30.7% in the first quarter. UBS Group AG now owns 10,091 shares of the specialty retailer’s stock worth $108,000 after buying an additional 2,373 shares during the period. Hedge funds and other institutional investors own 73.04% of the company’s stock.
Etsy Company Profile
Etsy, Inc (Etsy) operates a marketplace where people around the world connect, both online and offline, to make, sell and buy goods. The Company offers a range of seller services and tools that help entrepreneurs start, grow and manage their businesses. The Company’s community includes Etsy sellers, Etsy buyers, Etsy employees, its partners and investors.
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