Piper Jaffray Companies Reaffirms “Neutral” Rating for Etsy, Inc. (ETSY)
Etsy, Inc. (NASDAQ:ETSY)‘s stock had its “neutral” rating restated by analysts at Piper Jaffray Companies in a research note issued on Wednesday. They presently have a $14.50 price target on the specialty retailer’s stock. Piper Jaffray Companies’ target price suggests a potential downside of 12.39% from the stock’s previous close.
Other equities research analysts have also recently issued research reports about the stock. Zacks Investment Research raised shares of Etsy from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a research report on Friday, September 15th. Stifel Nicolaus reaffirmed a “hold” rating and set a $13.00 price target on shares of Etsy in a research report on Friday, June 23rd. Royal Bank Of Canada lifted their price objective on shares of Etsy from $12.00 to $16.00 and gave the stock a “sector perform” rating in a research note on Friday, August 4th. BidaskClub cut shares of Etsy from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. Finally, Roth Capital set a $14.00 price objective on shares of Etsy and gave the company a “hold” rating in a report on Monday, July 31st. Ten investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Etsy currently has a consensus rating of “Hold” and an average price target of $15.00.
Etsy (NASDAQ:ETSY) traded down 2.82% during midday trading on Wednesday, reaching $16.55. The company’s stock had a trading volume of 1,329,844 shares. Etsy has a 52 week low of $9.41 and a 52 week high of $17.90. The firm has a 50 day moving average price of $16.58 and a 200-day moving average price of $13.85. The firm’s market cap is $1.84 billion.
Etsy (NASDAQ:ETSY) last posted its quarterly earnings data on Thursday, August 3rd. The specialty retailer reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.06. The firm had revenue of $101.70 million for the quarter, compared to analysts’ expectations of $101.14 million. Etsy had a positive return on equity of 3.83% and a negative net margin of 3.16%. The company’s quarterly revenue was up 19.2% compared to the same quarter last year. During the same quarter last year, the business earned ($0.06) EPS. On average, analysts forecast that Etsy will post $0.27 earnings per share for the current fiscal year.
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In other news, CEO Josh Silverman acquired 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, with a total value of $1,002,880.00. Following the completion of the purchase, the chief executive officer now directly owns 64,000 shares of the company’s stock, valued at approximately $1,002,880. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 4.00% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. FNY Managed Accounts LLC acquired a new stake in shares of Etsy in the 1st quarter valued at $105,000. UBS Group AG boosted its stake in Etsy by 30.7% in the first quarter. UBS Group AG now owns 10,091 shares of the specialty retailer’s stock valued at $108,000 after buying an additional 2,373 shares in the last quarter. Royal Bank of Canada boosted its stake in Etsy by 30.3% in the second quarter. Royal Bank of Canada now owns 8,812 shares of the specialty retailer’s stock valued at $133,000 after buying an additional 2,049 shares in the last quarter. Ameritas Investment Partners Inc. boosted its stake in Etsy by 12.0% in the second quarter. Ameritas Investment Partners Inc. now owns 10,160 shares of the specialty retailer’s stock valued at $152,000 after buying an additional 1,092 shares in the last quarter. Finally, Marathon Trading Investment Management LLC acquired a new stake in Etsy in the first quarter valued at about $174,000. Hedge funds and other institutional investors own 73.03% 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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