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.

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.

Analyst Recommendations for Etsy (NASDAQ:ETSY)

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