Etsy, Inc. (ETSY) Downgraded by Zacks Investment Research to Hold
Zacks Investment Research downgraded shares of Etsy, Inc. (NASDAQ:ETSY) from a buy rating to a hold rating in a research note issued to investors on Thursday.
According to Zacks, “Etsy, Inc. offers e-commerce services. It provides online and offline marketplaces to buy and sell goods. The company’s product include art, home and living, mobile accessories, jewelry, wedding, and others. It operates primarily in Berlin, Germany, Dublin, Ireland, Hudson, New York, London, United Kingdom, Melbourne, Australia, Paris, France, San Francisco, California and Toronto, Canada. Etsy, Inc. is headquartered in Brooklyn, New York. “
Several other equities analysts also recently commented on the stock. BidaskClub upgraded shares of Etsy from a hold rating to a buy rating in a report on Saturday, August 26th. Ifs Securities reiterated an outperform rating and issued a $18.00 price objective on shares of Etsy in a report on Thursday, August 24th. Stifel Nicolaus upped their price objective on shares of Etsy from $13.00 to $15.00 and gave the company a hold rating in a report on Friday, August 4th. Royal Bank Of Canada upped their price target on shares of Etsy from $12.00 to $16.00 and gave the company a sector perform rating in a research note on Friday, August 4th. Finally, Roth Capital set a $14.00 price target on shares of Etsy and gave the company a hold rating in a research note on Monday, July 31st. Eleven research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Etsy presently has an average rating of Hold and an average target price of $14.62.
Etsy (NASDAQ:ETSY) traded down 0.92% during mid-day trading on Thursday, reaching $16.22. 198,824 shares of the company’s stock traded hands. Etsy has a 1-year low of $9.41 and a 1-year high of $16.69. The firm’s market cap is $1.80 billion. The firm has a 50 day moving average of $15.24 and a 200 day moving average of $12.92.
Etsy (NASDAQ:ETSY) last released its quarterly earnings data on Thursday, August 3rd. The specialty retailer reported $0.10 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.06. Etsy had a negative net margin of 3.16% and a positive return on equity of 3.83%. The firm had revenue of $101.70 million for the quarter, compared to the consensus estimate of $101.14 million. During the same period in the previous year, the company earned ($0.06) earnings per share. The company’s quarterly revenue was up 19.2% on a year-over-year basis. Analysts forecast that Etsy will post $0.27 EPS for the current year.
In other Etsy news, CEO Josh Silverman purchased 64,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 8th. The shares were acquired at an average cost of $15.67 per share, for a total transaction of $1,002,880.00. Following the completion of the purchase, the chief executive officer now owns 64,000 shares of the company’s stock, valued at approximately $1,002,880. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 4.00% of the company’s stock.
Large investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Etsy by 4.3% in the second quarter. Vanguard Group Inc. now owns 7,873,527 shares of the specialty retailer’s stock valued at $118,103,000 after buying an additional 325,998 shares in the last quarter. BlackRock Inc. boosted its stake in Etsy by 5.5% in the second quarter. BlackRock Inc. now owns 6,701,573 shares of the specialty retailer’s stock valued at $100,523,000 after buying an additional 351,751 shares in the last quarter. Janus Henderson Group PLC purchased a new stake in Etsy during the second quarter valued at $95,291,000. Janus Capital Management LLC boosted its stake in Etsy by 38.4% in the first quarter. Janus Capital Management LLC now owns 6,222,005 shares of the specialty retailer’s stock valued at $66,140,000 after buying an additional 1,726,152 shares in the last quarter. Finally, TPG Group Holdings SBS Advisors Inc. boosted its stake in Etsy by 2,287.5% in the second quarter. TPG Group Holdings SBS Advisors Inc. now owns 5,003,888 shares of the specialty retailer’s stock valued at $75,058,000 after buying an additional 4,794,297 shares in the last quarter. 73.04% of the stock is owned by institutional investors and hedge funds.
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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