Etsy (NASDAQ:ETSY) Earns Overweight Rating from KeyCorp

KeyCorp reissued their overweight rating on shares of Etsy (NASDAQ:ETSY) in a research note released on Wednesday, March 14th. The brokerage currently has a $33.00 price objective on the specialty retailer’s stock, up from their prior price objective of $28.00. KeyCorp also issued estimates for Etsy’s Q1 2018 earnings at $0.05 EPS, Q2 2018 earnings at $0.02 EPS, Q3 2018 earnings at $0.10 EPS, Q4 2018 earnings at $0.23 EPS, FY2018 earnings at $0.39 EPS and FY2019 earnings at $0.52 EPS.

Several other equities research analysts have also weighed in on ETSY. BidaskClub raised Etsy from a hold rating to a buy rating in a research report on Saturday, December 9th. Zacks Investment Research raised Etsy from a hold rating to a buy rating and set a $23.00 target price on the stock in a research report on Tuesday, January 9th. Morgan Stanley lowered Etsy from an equal weight rating to an underweight rating and set a $17.00 target price on the stock. in a research report on Friday, January 12th. Roth Capital raised Etsy from a neutral rating to a buy rating and increased their target price for the stock from $20.50 to $28.00 in a research report on Wednesday, February 28th. Finally, Stifel Nicolaus reaffirmed a hold rating and issued a $24.00 target price (up from $18.00) on shares of Etsy in a research report on Wednesday, February 28th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Etsy currently has a consensus rating of Hold and an average price target of $21.96.

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Shares of ETSY stock traded down $0.91 on Wednesday, hitting $27.63. 2,878,333 shares of the stock traded hands, compared to its average volume of 2,808,278. The company has a current ratio of 4.29, a quick ratio of 4.29 and a debt-to-equity ratio of 0.16. The firm has a market cap of $3,357.13, a P/E ratio of 72.71, a P/E/G ratio of 4.38 and a beta of 0.19. Etsy has a 1-year low of $9.90 and a 1-year high of $29.15.

Etsy (NASDAQ:ETSY) last issued its earnings results on Tuesday, February 27th. The specialty retailer reported $0.15 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.07. Etsy had a return on equity of 13.20% and a net margin of 18.54%. The firm had revenue of $136.27 million for the quarter, compared to analyst estimates of $132.89 million. research analysts forecast that Etsy will post 0.36 EPS for the current fiscal year.

In other news, Director Jonathan D. Klein sold 50,000 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $21.31, for a total value of $1,065,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 4.00% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. Tuttle Tactical Management LLC bought a new position in Etsy during the fourth quarter valued at about $1,463,000. William Blair Investment Management LLC boosted its stake in Etsy by 63.0% during the fourth quarter. William Blair Investment Management LLC now owns 313,418 shares of the specialty retailer’s stock valued at $6,409,000 after buying an additional 121,193 shares in the last quarter. Pier Capital LLC bought a new position in Etsy during the fourth quarter valued at about $4,476,000. MetLife Investment Advisors LLC bought a new position in Etsy during the fourth quarter valued at about $1,126,000. Finally, Gotham Asset Management LLC bought a new position in Etsy during the fourth quarter valued at about $2,348,000. 79.84% of the stock is owned by institutional investors and hedge funds.

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Etsy Company Profile

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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