Etsy (NYSE:ETSY) Rating Increased to Strong-Buy at Rosenblatt Securities

Rosenblatt Securities upgraded shares of Etsy (NYSE:ETSY) to a strong-buy rating in a research report sent to investors on Wednesday morning,Zacks.com reports.

A number of other research firms have also recently commented on ETSY. UBS Group lifted their target price on Etsy from $74.00 to $86.00 and gave the stock a “neutral” rating in a research note on Friday, August 7th. Wall Street Zen lowered shares of Etsy from a “buy” rating to a “hold” rating in a research report on Sunday, May 31st. JPMorgan Chase & Co. upgraded shares of Etsy from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $85.00 to $100.00 in a research note on Friday, August 7th. Seaport Research Partners upgraded shares of Etsy to a “buy” rating in a research note on Thursday. Finally, Jefferies Financial Group increased their price objective on Etsy from $62.00 to $80.00 and gave the company a “hold” rating in a report on Tuesday, July 14th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eighteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Etsy presently has an average rating of “Hold” and an average price target of $84.68.

Etsy Stock Performance

Shares of NYSE ETSY opened at $81.30 on Wednesday. The company has a market capitalization of $7.72 billion, a P/E ratio of 45.42, a price-to-earnings-growth ratio of 5.51 and a beta of 1.84. Etsy has a 52-week low of $44.00 and a 52-week high of $87.97. The company’s 50 day moving average price is $79.54 and its 200-day moving average price is $65.08.

Etsy (NYSE:ETSY) last released its earnings results on Wednesday, August 5th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($1.24). The business had revenue of $668.31 million during the quarter, compared to the consensus estimate of $646.10 million. Etsy had a net margin of 7.32% and a negative return on equity of 34.18%. The business’s revenue was down .7% on a year-over-year basis. During the same period in the prior year, the company earned $0.25 earnings per share. Analysts forecast that Etsy will post 3.94 earnings per share for the current year.

Insider Buying and Selling at Etsy

In other news, insider Josh Silverman sold 134,730 shares of the firm’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $68.89, for a total transaction of $9,281,549.70. Following the sale, the insider owned 130,694 shares in the company, valued at approximately $9,003,509.66. This trade represents a 50.76% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frederick R. Wilson sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $83.22, for a total value of $1,664,400.00. Following the transaction, the director owned 421,329 shares in the company, valued at approximately $35,062,999.38. The trade was a 4.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 584,967 shares of company stock valued at $43,908,631. Insiders own 2.50% of the company’s stock.

Hedge Funds Weigh In On Etsy

A number of institutional investors and hedge funds have recently modified their holdings of the company. EFG International AG bought a new position in shares of Etsy in the fourth quarter worth approximately $33,000. Global Retirement Partners LLC bought a new stake in shares of Etsy during the 2nd quarter worth approximately $34,000. Blue Trust Inc. boosted its position in Etsy by 19.3% in the 1st quarter. Blue Trust Inc. now owns 1,238 shares of the company’s stock valued at $62,000 after buying an additional 200 shares during the period. Danske Bank A S purchased a new stake in shares of Etsy in the 3rd quarter worth $66,000. Finally, Federation des caisses Desjardins du Quebec raised its stake in Etsy by 22.8% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 1,210 shares of the company’s stock worth $67,000 after buying an additional 225 shares in the last quarter. 99.53% of the stock is currently owned by hedge funds and other institutional investors.

Etsy News Summary

Here are the key news stories impacting Etsy this week:

• Positive Sentiment: Bank of America upgraded Etsy to Buy from Neutral and raised its price target to $95 from $88. The firm said recent growth appears increasingly structural rather than a temporary spike, while management’s execution under CEO Kruti Patel Goyal has been better than expected. Etsy upgraded to buy at BofA on durable growth, buyback potential
• Positive Sentiment: BofA highlighted stronger mobile engagement, conservative company estimates and the possibility of more than $1 billion in share repurchases following Etsy’s Depop sale. Buybacks could support earnings per share and provide demand for the stock. Does BofA’s Upgrade and Buyback Boost Change the Bull Case For Etsy
• Positive Sentiment: Rosenblatt Securities initiated coverage with a Buy rating and a $95 price target, implying additional upside from recent trading levels. The firm favored Etsy as improving execution offsets concerns about slower e-commerce market growth. Rosenblatt sees further upside for eBay, Etsy, and Wayfair
• Neutral Sentiment: Goldman Sachs began research coverage of Etsy, although the available report does not disclose a rating or price target. The new coverage may increase institutional attention but offers no clear valuation signal yet. Etsy Research Coverage Started at The Goldman Sachs Group
• Neutral Sentiment: At roughly $81, Etsy remains near its 52-week high and above its 50-day and 200-day moving averages. However, its elevated valuation and mixed analyst consensus leave the stock vulnerable if growth or buyback plans disappoint.
• Negative Sentiment: Two insiders reported sales under pre-arranged Rule 10b5-1 plans: Director Marla Blow sold 300 shares, while Chief Accounting Officer Merilee Buckley sold 405 shares. The transactions were modest in dollar value and appear scheduled, limiting their significance, but they still provide a minor negative signal. Etsy Director Marla Blow Sells 300 Shares

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 primary marketplace is Etsy.com that connects artisans and entrepreneurs with various consumers. The company also offers Reverb, a musical instrument marketplace; Depop, a fashion resale marketplace; and Elo7, a Brazil-based marketplace for handmade and unique items. In addition, it offers various seller services, including Etsy Payments, a payment processing service; Etsy Ads, an advertising platform; and Shipping Labels, which allows sellers in the United States, Canada, the United Kingdom, Australia, and India to purchase discounted shipping labels.