Evercore ISI Begins Coverage on Etsy (NASDAQ:ETSY)
Evercore ISI began coverage on shares of Etsy (NASDAQ:ETSY) in a report released on Monday morning, The Fly reports. The brokerage issued an outperform rating and a $265.00 price objective on the specialty retailer’s stock.
ETSY has been the topic of a number of other research reports. Zacks Investment Research raised Etsy from a hold rating to a buy rating and set a $257.00 price target on the stock in a research note on Tuesday, March 2nd. Jefferies Financial Group increased their target price on Etsy from $205.00 to $245.00 and gave the stock a buy rating in a research report on Tuesday, January 26th. Loop Capital lifted their price target on Etsy from $210.00 to $240.00 and gave the company a buy rating in a report on Monday, January 25th. Canaccord Genuity increased their price objective on shares of Etsy from $215.00 to $270.00 and gave the stock a buy rating in a report on Thursday, March 4th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Etsy from $162.00 to $239.00 and gave the company a buy rating in a report on Monday, March 29th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eighteen have issued a buy rating to the company. The company currently has a consensus rating of Buy and a consensus target price of $207.09.
NASDAQ:ETSY opened at $204.02 on Monday. The firm has a market cap of $25.72 billion, a price-to-earnings ratio of 113.34, a price-to-earnings-growth ratio of 3.58 and a beta of 1.66. The company has a current ratio of 4.98, a quick ratio of 4.98 and a debt-to-equity ratio of 1.65. The company’s 50-day moving average is $212.21 and its two-hundred day moving average is $176.79. Etsy has a 12-month low of $47.87 and a 12-month high of $251.86.
In other news, Director Melissa Reiff sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, January 12th. The stock was sold at an average price of $200.00, for a total transaction of $400,000.00. Following the completion of the sale, the director now directly owns 3,434 shares in the company, valued at $686,800. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Merilee Buckley sold 908 shares of Etsy stock in a transaction dated Monday, April 5th. The stock was sold at an average price of $198.26, for a total value of $180,020.08. Following the sale, the chief accounting officer now directly owns 2,436 shares in the company, valued at $482,961.36. The disclosure for this sale can be found here. Insiders sold 65,965 shares of company stock valued at $13,277,770 in the last ninety days. 3.80% of the stock is owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of the business. Credit Agricole S A purchased a new position in shares of Etsy during the 4th quarter valued at approximately $25,000. Jackson Grant Investment Advisers Inc. acquired a new position in Etsy during the 4th quarter worth $27,000. Salem Investment Counselors Inc. bought a new stake in shares of Etsy in the 4th quarter worth about $27,000. Associated Banc Corp raised its stake in shares of Etsy by 450.0% in the 4th quarter. Associated Banc Corp now owns 165 shares of the specialty retailer’s stock valued at $29,000 after purchasing an additional 135 shares in the last quarter. Finally, Farmers & Merchants Investments Inc. lifted its position in shares of Etsy by 45.0% during the fourth quarter. Farmers & Merchants Investments Inc. now owns 174 shares of the specialty retailer’s stock worth $31,000 after purchasing an additional 54 shares during the last quarter. Institutional investors own 87.69% of the company’s stock.
Etsy Company Profile
Etsy, Inc operates two-sided online marketplaces that connect buyers and sellers primarily in the United States, the United Kingdom, Germany, Canada, Australia, France, and India. Its online market places include Etsy.com and Reverb.com. The company offers approximately 85 million items in its various retail categories to buyers.
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