BidaskClub Lowers Etsy (ETSY) to Hold

Etsy (NASDAQ:ETSY) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued on Monday, February 4th.

Other equities analysts have also issued research reports about the stock. TheStreet upgraded shares of Etsy from a “c+” rating to a “b” rating in a research report on Monday, November 19th. Goldman Sachs Group raised shares of Etsy from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $46.00 to $54.00 in a research note on Friday, January 4th. ValuEngine cut shares of Etsy from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 21st. Loop Capital set a $70.00 target price on shares of Etsy and gave the stock a “buy” rating in a research note on Monday, December 17th. Finally, Citigroup started coverage on shares of Etsy in a research note on Friday, December 7th. They set a “buy” rating and a $70.00 target price on the stock. Five analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. Etsy has an average rating of “Buy” and an average price target of $63.43.

Shares of ETSY traded up $1.50 during mid-day trading on Monday, reaching $72.77. The stock had a trading volume of 3,372,252 shares, compared to its average volume of 2,413,040. The firm has a market cap of $6.83 billion, a P/E ratio of 119.30, a PEG ratio of 5.43 and a beta of 0.93. Etsy has a 12 month low of $24.41 and a 12 month high of $73.33. 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 (NASDAQ:ETSY) last posted its quarterly earnings results on Monday, February 25th. The specialty retailer reported $0.32 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.06. Etsy had a net margin of 15.00% and a return on equity of 14.10%. The business had revenue of $200.00 million during the quarter, compared to analyst estimates of $194.77 million. During the same period in the prior year, the business posted $0.36 earnings per share. The company’s revenue was up 46.7% on a year-over-year basis. Equities analysts anticipate that Etsy will post 0.7 earnings per share for the current year.

In related news, General Counsel Jill Simeone sold 11,572 shares of the company’s stock in a transaction that occurred on Friday, January 4th. The shares were sold at an average price of $50.00, for a total transaction of $578,600.00. Following the sale, the general counsel now directly owns 2,859 shares in the company, valued at $142,950. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael T. Fisher sold 46,874 shares of the company’s stock in a transaction that occurred on Tuesday, February 26th. The stock was sold at an average price of $65.00, for a total transaction of $3,046,810.00. The disclosure for this sale can be found here. 2.80% of the stock is owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in ETSY. Dimensional Fund Advisors LP purchased a new position in Etsy in the second quarter worth $1,708,000. Raymond James & Associates boosted its holdings in shares of Etsy by 73.2% during the second quarter. Raymond James & Associates now owns 41,476 shares of the specialty retailer’s stock worth $1,750,000 after acquiring an additional 17,531 shares during the period. Bank of America Corp DE boosted its holdings in shares of Etsy by 154.5% during the second quarter. Bank of America Corp DE now owns 190,156 shares of the specialty retailer’s stock worth $8,022,000 after acquiring an additional 115,428 shares during the period. Bank of New York Mellon Corp raised its position in shares of Etsy by 4.7% in the second quarter. Bank of New York Mellon Corp now owns 986,641 shares of the specialty retailer’s stock valued at $41,626,000 after buying an additional 44,500 shares in the last quarter. Finally, Northern Trust Corp raised its position in shares of Etsy by 0.3% in the second quarter. Northern Trust Corp now owns 1,399,809 shares of the specialty retailer’s stock valued at $59,058,000 after buying an additional 4,275 shares in the last quarter. Hedge funds and other institutional investors own 88.86% 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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Analyst Recommendations for Etsy (NASDAQ:ETSY)

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