BidaskClub upgraded shares of Etsy (NASDAQ:ETSY) from a hold rating to a buy rating in a research note released on Friday.
Other analysts have also issued research reports about the stock. Loop Capital boosted their price target on shares of Etsy to $65.00 and gave the company a buy rating in a research note on Friday, September 14th. TheStreet upgraded shares of Etsy from a c+ rating to a b rating in a research note on Monday, November 19th. Morgan Stanley upgraded shares of Etsy from an underweight rating to an equal weight rating and upped their target price for the stock from $36.00 to $48.00 in a research note on Wednesday, October 24th. Wedbush reiterated a neutral rating and issued a $50.00 target price on shares of Etsy in a research note on Thursday, September 13th. Finally, DA Davidson reiterated a buy rating and issued a $59.00 target price (up previously from $53.00) on shares of Etsy in a research note on Friday, September 14th. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of Buy and an average target price of $50.38.
Shares of ETSY stock opened at $53.92 on Friday. The firm has a market cap of $6.69 billion, a price-to-earnings ratio of 141.89, a price-to-earnings-growth ratio of 6.27 and a beta of 0.68. The company has a debt-to-equity ratio of 0.85, a current ratio of 5.49 and a quick ratio of 5.49. Etsy has a 12 month low of $16.72 and a 12 month high of $58.30.
Etsy (NASDAQ:ETSY) last announced its quarterly earnings results on Tuesday, November 6th. The specialty retailer reported $0.15 EPS for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.09. The business had revenue of $150.37 million during the quarter, compared to analyst estimates of $149.76 million. Etsy had a net margin of 15.00% and a return on equity of 14.10%. Etsy’s quarterly revenue was up 41.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.21 EPS. Analysts forecast that Etsy will post 0.59 EPS for the current year.
In related news, Director Jonathan D. Klein sold 35,900 shares of the stock in a transaction dated Tuesday, November 13th. The shares were sold at an average price of $51.12, for a total transaction of $1,835,208.00. Following the completion of the transaction, the director now owns 165,165 shares in the company, valued at $8,443,234.80. The transaction was disclosed in a document filed with the SEC, which is available through this link. 2.80% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Sei Investments Co. grew its position in Etsy by 16.7% during the second quarter. Sei Investments Co. now owns 52,631 shares of the specialty retailer’s stock valued at $2,220,000 after buying an additional 7,547 shares during the period. Canada Pension Plan Investment Board grew its position in Etsy by 48.1% during the second quarter. Canada Pension Plan Investment Board now owns 344,800 shares of the specialty retailer’s stock valued at $14,547,000 after buying an additional 112,000 shares during the period. Dupont Capital Management Corp bought a new position in Etsy during the second quarter valued at about $672,000. Great West Life Assurance Co. Can grew its position in Etsy by 29.4% during the second quarter. Great West Life Assurance Co. Can now owns 10,965 shares of the specialty retailer’s stock valued at $463,000 after buying an additional 2,492 shares during the period. Finally, Calamos Advisors LLC bought a new position in Etsy during the third quarter valued at about $309,000. Institutional investors own 89.86% 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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