Zacks Investment Research upgraded shares of Etsy, Inc. (NASDAQ:ETSY) from a hold rating to a buy rating in a research report sent to investors on Friday morning. The firm currently has $20.00 target price on the specialty retailer’s stock.

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. “

ETSY has been the subject of several other reports. DA Davidson started coverage on Etsy in a report on Wednesday, September 6th. They issued a buy rating and a $18.00 price objective for the company. TheStreet upgraded Etsy from a d rating to a c- rating in a report on Wednesday, May 24th. BidaskClub upgraded Etsy from a hold rating to a buy rating in a report on Saturday, August 26th. Maxim Group set a $17.00 price objective on Etsy and gave the stock a buy rating in a report on Wednesday, June 21st. Finally, Royal Bank Of Canada reiterated a hold rating and issued a $12.00 price objective on shares of Etsy in a report on Friday, June 30th. Ten equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $15.07.

Etsy (NASDAQ ETSY) opened at 17.13 on Friday. The stock’s market capitalization is $1.90 billion. Etsy has a one year low of $9.41 and a one year high of $17.90. The company has a 50 day moving average of $15.99 and a 200-day moving average of $13.29.

Etsy (NASDAQ:ETSY) last issued 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. Etsy had a positive return on equity of 3.83% and a negative net margin of 3.16%. The firm had revenue of $101.70 million during the quarter, compared to the consensus estimate of $101.14 million. During the same period last year, the company earned ($0.06) earnings per share. The company’s revenue was up 19.2% on a year-over-year basis. Equities research analysts predict that Etsy will post $0.27 earnings per share for the current fiscal year.

ILLEGAL ACTIVITY WARNING: “Etsy, Inc. (ETSY) Raised to “Buy” at Zacks Investment Research” was posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this report on another publication, it was stolen and republished in violation of United States & international copyright and trademark laws. The correct version of this report can be viewed at https://www.thecerbatgem.com/2017/09/19/etsy-inc-etsy-raised-to-buy-at-zacks-investment-research.html.

In other news, CEO Josh Silverman bought 64,000 shares of the company’s stock in a transaction on Tuesday, August 8th. The shares were acquired at an average cost of $15.67 per share, with a total value of $1,002,880.00. Following the completion of the transaction, the chief executive officer now owns 64,000 shares of the company’s stock, valued at approximately $1,002,880. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 4.00% of the company’s stock.

Large investors have recently made changes to their positions in the business. Royal Bank of Canada boosted its position in 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 purchasing an additional 2,049 shares during the last quarter. FNY Managed Accounts LLC purchased a new position in Etsy in the first quarter worth about $105,000. UBS Group AG boosted its position in 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 purchasing an additional 2,373 shares during the last quarter. Ameritas Investment Partners Inc. boosted its position in 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 purchasing an additional 1,092 shares during the last quarter. Finally, Amalgamated Bank boosted its position in 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 purchasing an additional 1,920 shares during the last quarter. 73.03% of the stock is currently owned by institutional investors and hedge funds.

About Etsy

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.

Get a free copy of the Zacks research report on Etsy (ETSY)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Etsy (NASDAQ:ETSY)

Receive News & Stock Ratings for Etsy Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Etsy Inc. and related stocks with our FREE daily email newsletter.