BidaskClub Upgrades Etsy (ETSY) to Buy

Etsy (NASDAQ:ETSY) was upgraded by BidaskClub from a “hold” rating to a “buy” rating in a report released on Monday, BidAskClub reports.

ETSY has been the topic of several other reports. Citigroup reissued a “buy” rating and set a $80.00 target price on shares of Etsy in a research note on Tuesday, February 26th. KeyCorp increased their target price on shares of Etsy from $75.00 to $90.00 and gave the stock an “overweight” rating in a research note on Friday, March 8th. ValuEngine lowered shares of Etsy from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 9th. Zacks Investment Research lowered shares of Etsy from a “hold” rating to a “sell” rating in a research note on Tuesday, April 30th. Finally, Loop Capital increased their target price on shares of Etsy from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Tuesday, February 26th. Eight research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Etsy has an average rating of “Buy” and an average price target of $68.87.

Shares of NASDAQ:ETSY traded up $0.34 during trading on Monday, reaching $63.12. The stock had a trading volume of 1,707,217 shares, compared to its average volume of 2,747,532. The company has a debt-to-equity ratio of 0.81, a quick ratio of 4.87 and a current ratio of 4.87. Etsy has a 52 week low of $28.60 and a 52 week high of $73.35. The firm has a market cap of $7.59 billion, a P/E ratio of 103.48, a P/E/G ratio of 3.96 and a beta of 0.98.



Etsy (NASDAQ:ETSY) last posted its quarterly earnings data on Wednesday, May 8th. The specialty retailer reported $0.24 EPS for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.10. The company had revenue of $169.33 million for the quarter, compared to analyst estimates of $170.72 million. Etsy had a net margin of 14.74% and a return on equity of 24.24%. The company’s quarterly revenue was up 40.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.10 EPS. As a group, sell-side analysts anticipate that Etsy will post 0.82 earnings per share for the current year.

In other Etsy news, CTO Michael T. Fisher sold 2,604 shares of the company’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $69.37, for a total transaction of $180,639.48. Following the transaction, the chief technology officer now owns 30,968 shares in the company, valued at $2,148,250.16. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Goyal Kruti Patel sold 3,753 shares of the company’s stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $69.69, for a total transaction of $261,546.57. Following the transaction, the senior vice president now owns 16,389 shares in the company, valued at approximately $1,142,149.41. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 184,285 shares of company stock worth $12,638,801. Corporate insiders own 3.00% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ETSY. Freestone Capital Holdings LLC purchased a new stake in shares of Etsy in the first quarter valued at about $13,445,000. Quadrant Capital Group LLC purchased a new stake in shares of Etsy in the first quarter valued at about $30,000. Institutional & Family Asset Management LLC raised its holdings in shares of Etsy by 267.7% in the first quarter. Institutional & Family Asset Management LLC now owns 467 shares of the specialty retailer’s stock valued at $31,000 after purchasing an additional 340 shares during the last quarter. Rockefeller Capital Management L.P. purchased a new stake in shares of Etsy in the first quarter valued at about $33,000. Finally, Optimum Investment Advisors purchased a new stake in shares of Etsy in the fourth quarter valued at about $33,000. Hedge funds and other institutional investors own 93.69% of the company’s stock.

Etsy Company Profile

Etsy, Inc operates Etsy.com, a commerce platform to make, sell, and buy goods online and offline primarily in the United States, United Kingdom, Canada, Australia, France, and Germany. It provides various seller services and tools that are designed to help entrepreneurs for starting, managing, and scaling their businesses.

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Analyst Recommendations for Etsy (NASDAQ:ETSY)

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