Analysts Set Etsy Inc (ETSY) Price Target at $15.55
Etsy Inc (NASDAQ:ETSY) has been assigned a consensus recommendation of “Hold” from the sixteen ratings firms that are covering the company, Marketbeat reports. Eleven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $15.55.
A number of equities analysts have recently issued reports on the company. Zacks Investment Research cut Etsy from a “buy” rating to a “hold” rating in a report on Thursday, August 31st. Royal Bank of Canada reiterated a “sector perform” rating and issued a $18.00 price objective (up from $16.00) on shares of Etsy in a report on Thursday, November 2nd. BidaskClub upgraded Etsy from a “hold” rating to a “buy” rating in a report on Saturday. Ifs Securities reiterated an “outperform” rating and issued a $18.00 price objective on shares of Etsy in a report on Thursday, August 24th. Finally, Piper Jaffray Companies reiterated a “neutral” rating and issued a $14.50 price objective on shares of Etsy in a report on Wednesday, October 4th.
In related news, Director Frederick R. Wilson sold 87,938 shares of the stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $16.24, for a total transaction of $1,428,113.12. Following the completion of the sale, the director now directly owns 822,062 shares in the company, valued at approximately $13,350,286.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 4.00% of the company’s stock.
Etsy (NASDAQ:ETSY) traded up $0.28 on Thursday, hitting $20.21. The stock had a trading volume of 2,436,976 shares, compared to its average volume of 1,984,872. Etsy has a 1 year low of $9.41 and a 1 year high of $20.25. The company has a debt-to-equity ratio of 0.19, a current ratio of 4.26 and a quick ratio of 4.26. The stock has a market cap of $2,460.00 and a PE ratio of 77.28.
Etsy announced that its Board of Directors has authorized a stock repurchase plan on Friday, November 17th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the specialty retailer to purchase shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.
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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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