Royal Bank Of Canada Reiterates “Sector Perform” Rating for Etsy, Inc. (ETSY)
Etsy, Inc. (NASDAQ:ETSY)‘s stock had its “sector perform” rating restated by investment analysts at Royal Bank Of Canada in a note issued to investors on Thursday. They currently have a $18.00 price target on the specialty retailer’s stock, up from their previous price target of $16.00. Royal Bank Of Canada’s price target would indicate a potential upside of 4.96% from the company’s current price.
The analysts wrote, “We continue to rate Discovery Buy. Discovery Communications announced 3Q17 earnings featuring slightly better-than-expected results on revenues and adjusted OIBDA. Revenues were up +6%, including domestic revenues up by +4% and international revenues up +11%. Domestically, advertising was up +3%. This favorable outcome in what was likely a negative market during the quarter was led by favorable viewing trends for the company’s networks and aided by +1% from monetization of inventory on Discovery Go, the company’s TV Everywhere product. The exclusion of assets associated with Group 9 reduced advertising growth by +1%.””
A number of other equities analysts also recently commented on the company. DA Davidson started coverage on Etsy in a research report on Wednesday, September 6th. They set a “buy” rating and a $18.00 price objective for the company. Morgan Stanley reissued an “equal weight” rating and set a $13.50 price objective (up from $9.50) on shares of Etsy in a research report on Thursday, July 20th. Zacks Investment Research downgraded Etsy from a “buy” rating to a “hold” rating in a report on Wednesday, September 13th. Ifs Securities reaffirmed an “outperform” rating and issued a $18.00 price target on shares of Etsy in a report on Thursday, August 24th. Finally, Piper Jaffray Companies reaffirmed a “neutral” rating and issued a $14.50 price target on shares of Etsy in a report on Wednesday, October 4th. Ten analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Etsy currently has a consensus rating of “Hold” and a consensus price target of $15.38.
Shares of Etsy (NASDAQ:ETSY) traded up $0.56 during trading on Thursday, hitting $17.15. The stock had a trading volume of 3,439,142 shares, compared to its average volume of 1,330,000. Etsy has a 1-year low of $9.41 and a 1-year high of $17.90. The firm has a market capitalization of $1,980.00 and a P/E ratio of 150.82. The company has a debt-to-equity ratio of 0.22, a quick ratio of 4.26 and a current ratio of 4.26.
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Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of 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 acquiring an additional 325,998 shares during the period. BlackRock Inc. boosted its holdings in shares of 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 acquiring an additional 351,751 shares during the period. Janus Henderson Group PLC acquired a new stake in shares of Etsy in the second quarter valued at approximately $95,291,000. TPG Group Holdings SBS Advisors Inc. boosted its holdings in shares of 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 acquiring an additional 4,794,297 shares during the period. Finally, State Street Corp boosted its holdings in shares of Etsy by 4.4% in the second quarter. State Street Corp now owns 2,401,810 shares of the specialty retailer’s stock valued at $36,040,000 after acquiring an additional 101,859 shares during the period. 73.82% 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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