Citigroup initiated coverage on shares of Etsy (NASDAQ:ETSY) in a research report report published on Friday morning, Marketbeat reports. The firm issued a buy rating and a $70.00 target price on the specialty retailer’s stock.
Other research analysts also recently issued research reports about the stock. Loop Capital upped their target price on shares of Etsy to $65.00 and gave the stock 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 report on Monday, November 19th. Morgan Stanley upgraded shares of Etsy from an underweight rating to an equal weight rating and increased their price objective for the company from $36.00 to $48.00 in a research report on Wednesday, October 24th. BidaskClub downgraded shares of Etsy from a buy rating to a hold rating in a research report on Tuesday, October 9th. Finally, DA Davidson restated a buy rating and set a $59.00 price objective (up previously from $53.00) on shares of Etsy in a research report on Friday, September 14th. Four 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’s stock. The stock presently has an average rating of Buy and a consensus target price of $50.38.
Shares of NASDAQ ETSY traded down $1.58 during midday trading on Friday, hitting $53.92. The stock had a trading volume of 2,126,934 shares, compared to its average volume of 2,542,752. The company has a market cap of $6.69 billion, a PE ratio of 141.89, a P/E/G ratio of 6.27 and a beta of 0.68. Etsy has a 52 week low of $16.72 and a 52 week high of $58.30. The company has a debt-to-equity ratio of 0.85, a quick ratio of 5.49 and a current ratio of 5.49.
Etsy (NASDAQ:ETSY) last issued its earnings results on Tuesday, November 6th. The specialty retailer reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.09. The firm had revenue of $150.37 million for the quarter, compared to the consensus estimate of $149.76 million. Etsy had a net margin of 15.00% and a return on equity of 14.10%. The business’s revenue was up 41.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.21 earnings per share. On average, analysts forecast that Etsy will post 0.59 earnings per share for the current fiscal year.
In related news, Director Jonathan D. Klein sold 35,900 shares of the stock in a transaction that occurred on 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 transaction, the director now owns 165,165 shares in the company, valued at $8,443,234.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.80% of the stock is owned by corporate insiders.
A number of institutional investors have recently modified their holdings of ETSY. Clearbridge Investments LLC increased its holdings in Etsy by 12.6% during the third quarter. Clearbridge Investments LLC now owns 644,530 shares of the specialty retailer’s stock valued at $33,116,000 after buying an additional 72,370 shares during the last quarter. Legal & General Group Plc increased its holdings in Etsy by 11.5% during the third quarter. Legal & General Group Plc now owns 49,972 shares of the specialty retailer’s stock valued at $2,568,000 after buying an additional 5,160 shares during the last quarter. Glenmede Trust Co. NA increased its holdings in Etsy by 69.6% during the third quarter. Glenmede Trust Co. NA now owns 971,374 shares of the specialty retailer’s stock valued at $49,908,000 after buying an additional 398,632 shares during the last quarter. Macquarie Group Ltd. increased its holdings in Etsy by 410.8% during the third quarter. Macquarie Group Ltd. now owns 33,715 shares of the specialty retailer’s stock valued at $1,732,000 after buying an additional 27,115 shares during the last quarter. Finally, HBK Sorce Advisory LLC purchased a new stake in Etsy during the third quarter valued at approximately $453,000. 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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