Etsy (NASDAQ:ETSY) had its price objective upped by equities research analysts at BTIG Research to $67.00 in a research note issued to investors on Tuesday, February 26th, The Fly reports. The brokerage currently has a “buy” rating on the specialty retailer’s stock. BTIG Research’s price target indicates a potential upside of 1.48% from the company’s current price.
A number of other research analysts have also recently weighed in on the company. Loop Capital lifted their target price on Etsy from $70.00 to $80.00 and gave the company a “buy” rating in a report on Tuesday, February 26th. Citigroup reissued a “buy” rating and issued a $80.00 price objective on shares of Etsy in a research report on Tuesday, February 26th. Deutsche Bank raised their price objective on Etsy from $64.00 to $72.00 and gave the company a “buy” rating in a research report on Tuesday, February 26th. Wedbush raised their price objective on Etsy from $50.00 to $60.00 and gave the company a “neutral” rating in a research report on Tuesday, February 26th. Finally, ValuEngine raised Etsy from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 19th. Seven investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $66.29.
Shares of ETSY stock traded down $3.42 during trading hours on Tuesday, reaching $66.02. 2,260,306 shares of the company’s stock were exchanged, compared to its average volume of 4,779,081. The company has a market cap of $7.89 billion, a price-to-earnings ratio of 108.23, a price-to-earnings-growth ratio of 7.04 and a beta of 1.04. Etsy has a 1 year low of $26.54 and a 1 year high of $73.35. The company has a current ratio of 6.07, a quick ratio of 6.07 and a debt-to-equity ratio of 0.84.
Etsy (NASDAQ:ETSY) last issued its earnings results on Monday, February 25th. The specialty retailer reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.06. Etsy had a return on equity of 20.00% and a net margin of 12.84%. The business had revenue of $200.00 million during the quarter, compared to the consensus estimate of $194.77 million. During the same period in the prior year, the business posted $0.36 EPS. The company’s revenue for the quarter was up 46.7% on a year-over-year basis. On average, equities analysts forecast that Etsy will post 0.69 earnings per share for the current fiscal year.
In other Etsy news, insider Michael T. Fisher sold 2,604 shares of Etsy stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $69.36, for a total value of $180,613.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jonathan D. Klein sold 30,000 shares of Etsy stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $70.83, for a total value of $2,124,900.00. Following the completion of the transaction, the director now owns 109,265 shares of the company’s stock, valued at $7,739,239.95. The disclosure for this sale can be found here. Over the last three months, insiders sold 131,050 shares of company stock valued at $8,761,823. 2.80% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of ETSY. Bank of New York Mellon Corp raised its holdings in Etsy by 4.7% during the second quarter. Bank of New York Mellon Corp now owns 986,641 shares of the specialty retailer’s stock worth $41,626,000 after purchasing an additional 44,500 shares in the last quarter. Bank of Montreal Can increased its holdings in shares of Etsy by 80.1% in the third quarter. Bank of Montreal Can now owns 16,885 shares of the specialty retailer’s stock valued at $867,000 after buying an additional 7,509 shares in the last quarter. Aperio Group LLC increased its holdings in shares of Etsy by 18.5% in the third quarter. Aperio Group LLC now owns 23,020 shares of the specialty retailer’s stock valued at $1,183,000 after buying an additional 3,588 shares in the last quarter. Creative Planning bought a new position in shares of Etsy in the third quarter valued at $290,000. Finally, Oppenheimer Asset Management Inc. bought a new position in shares of Etsy in the third quarter valued at $2,170,000. Institutional investors and hedge funds own 93.91% 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.
Further Reading: Moving Average (MA)
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