Etsy (NASDAQ:ETSY) was upgraded by stock analysts at BTIG Research from a “neutral” rating to a “buy” rating in a note issued to investors on Friday, Briefing.com reports. The brokerage currently has a $138.00 price objective on the specialty retailer’s stock. BTIG Research’s price objective indicates a potential upside of 24.81% from the stock’s previous close.
Other equities analysts have also recently issued research reports about the company. Goldman Sachs Group raised their price objective on Etsy from $88.00 to $120.00 and gave the company a “buy” rating in a report on Monday, June 22nd. They noted that the move was a valuation call. Loop Capital raised their price objective on Etsy from $120.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, August 6th. BidaskClub cut Etsy from a “buy” rating to a “hold” rating in a report on Saturday, September 5th. Deutsche Bank raised their price objective on Etsy from $86.00 to $156.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Finally, Morgan Stanley raised their price objective on Etsy from $65.00 to $68.00 and gave the company an “underweight” rating in a report on Thursday, August 6th. One analyst has rated the stock with a sell rating, two have given a hold rating and eighteen have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $129.27.
ETSY stock opened at $110.57 on Friday. The stock has a 50-day moving average price of $121.31 and a two-hundred day moving average price of $84.62. The stock has a market cap of $13.45 billion, a PE ratio of 90.63, a price-to-earnings-growth ratio of 2.13 and a beta of 1.39. The company has a current ratio of 4.27, a quick ratio of 4.27 and a debt-to-equity ratio of 1.63. Etsy has a 1 year low of $29.95 and a 1 year high of $141.41.
Etsy (NASDAQ:ETSY) last released its earnings results on Wednesday, August 5th. The specialty retailer reported $0.75 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.36. The firm had revenue of $428.74 million during the quarter, compared to analysts’ expectations of $334.37 million. Etsy had a return on equity of 35.91% and a net margin of 13.78%. On average, analysts forecast that Etsy will post 2 earnings per share for the current fiscal year.
In other Etsy news, Director Melissa Reiff sold 3,029 shares of the firm’s stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $86.11, for a total transaction of $260,827.19. Following the completion of the sale, the director now directly owns 2,831 shares in the company, valued at $243,777.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CMO Ryan M. Scott sold 599 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $124.97, for a total transaction of $74,857.03. Following the sale, the chief marketing officer now owns 1,197 shares of the company’s stock, valued at $149,589.09. The disclosure for this sale can be found here. Insiders have sold 367,289 shares of company stock valued at $42,513,816 over the last 90 days. Company insiders own 3.80% of the company’s stock.
Hedge funds have recently modified their holdings of the business. Wellington Management Group LLP grew its stake in shares of Etsy by 95.0% during the 1st quarter. Wellington Management Group LLP now owns 8,003,777 shares of the specialty retailer’s stock worth $307,665,000 after purchasing an additional 3,899,952 shares during the period. William Blair Investment Management LLC raised its stake in shares of Etsy by 47.6% during the first quarter. William Blair Investment Management LLC now owns 3,230,730 shares of the specialty retailer’s stock worth $124,189,000 after purchasing an additional 1,041,562 shares during the last quarter. State Street Corp grew its holdings in Etsy by 4.6% during the first quarter. State Street Corp now owns 2,921,528 shares of the specialty retailer’s stock worth $112,304,000 after acquiring an additional 127,428 shares during the period. Alliancebernstein L.P. grew its holdings in Etsy by 402.2% during the first quarter. Alliancebernstein L.P. now owns 2,663,762 shares of the specialty retailer’s stock worth $102,395,000 after acquiring an additional 2,133,322 shares during the period. Finally, Majedie Asset Management Ltd grew its holdings in Etsy by 22.4% during the first quarter. Majedie Asset Management Ltd now owns 1,476,330 shares of the specialty retailer’s stock worth $56,878,000 after acquiring an additional 270,196 shares during the period. Hedge funds and other institutional investors own 91.78% 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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