Etsy (ETSY) Lifted to “Buy” at Zacks Investment Research

Etsy (NASDAQ:ETSY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Friday. The firm currently has a $49.00 price target on the specialty retailer’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 14.38% from the company’s current price.

According to Zacks, “Etsy, Inc. offers e-commerce services. It provides online and offline marketplaces to buy and sell goods. The company’s product include art, home and living, mobile accessories, jewelry, wedding, and others. It operates primarily in Berlin, Germany, Dublin, Ireland, Hudson, New York, London, United Kingdom, Melbourne, Australia, Paris, France, San Francisco, California and Toronto, Canada. Etsy, Inc. is headquartered in Brooklyn, New York. “

Several other equities analysts have also commented on ETSY. TheStreet lowered shares of Etsy from a “b-” rating to a “c+” rating in a report on Tuesday, October 9th. Wedbush started coverage on shares of Etsy in a report on Friday, September 14th. They issued a “buy” rating on the stock. Royal Bank of Canada reissued a “hold” rating and issued a $45.00 target price on shares of Etsy in a report on Tuesday, August 7th. KeyCorp raised their target price on shares of Etsy from $51.00 to $59.00 and gave the company an “overweight” rating in a report on Tuesday, October 2nd. Finally, Morgan Stanley raised their target price on shares of Etsy from $23.00 to $36.00 and gave the company an “underweight” rating in a report on Wednesday, July 11th. Six analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $46.04.

NASDAQ:ETSY opened at $42.84 on Friday. Etsy has a 52 week low of $16.08 and a 52 week high of $53.25. The stock has a market cap of $5.13 billion, a P/E ratio of 112.74, a price-to-earnings-growth ratio of 6.84 and a beta of 0.61. The company has a debt-to-equity ratio of 0.90, a quick ratio of 5.87 and a current ratio of 5.87.

Etsy (NASDAQ:ETSY) last released its quarterly earnings results on Monday, August 6th. The specialty retailer reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). Etsy had a return on equity of 13.23% and a net margin of 17.52%. The business had revenue of $132.39 million for the quarter, compared to the consensus estimate of $127.10 million. During the same period in the prior year, the business posted $0.10 earnings per share. Etsy’s revenue was up 30.2% compared to the same quarter last year. Equities research analysts anticipate that Etsy will post 0.42 earnings per share for the current year.

In other news, Director Melissa Reiff sold 35,000 shares of the firm’s stock in a transaction that occurred on Friday, August 17th. The shares were sold at an average price of $46.01, for a total value of $1,610,350.00. Following the sale, the director now directly owns 25,285 shares in the company, valued at approximately $1,163,362.85. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director M Michele Burns sold 45,000 shares of the firm’s stock in a transaction that occurred on Friday, August 10th. The shares were sold at an average price of $44.48, for a total transaction of $2,001,600.00. Following the completion of the sale, the director now owns 28,103 shares in the company, valued at $1,250,021.44. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 107,062 shares of company stock worth $4,834,580. 2.80% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently bought and sold shares of ETSY. UBS Group AG boosted its stake in shares of Etsy by 35.7% in the 1st quarter. UBS Group AG now owns 12,755 shares of the specialty retailer’s stock valued at $358,000 after purchasing an additional 3,359 shares in the last quarter. LPL Financial LLC boosted its position in Etsy by 268.2% during the 1st quarter. LPL Financial LLC now owns 54,720 shares of the specialty retailer’s stock worth $1,535,000 after buying an additional 39,858 shares during the period. Xact Kapitalforvaltning AB acquired a new stake in Etsy during the 1st quarter worth approximately $341,000. Allianz Asset Management GmbH boosted its position in Etsy by 132.5% during the 1st quarter. Allianz Asset Management GmbH now owns 38,298 shares of the specialty retailer’s stock worth $1,075,000 after buying an additional 21,823 shares during the period. Finally, Clinton Group Inc. acquired a new stake in Etsy during the 2nd quarter worth approximately $248,000. Institutional investors own 86.57% 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.

See Also: Earnings Per Share (EPS)

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