Goldman Sachs Group upgraded shares of Etsy (NASDAQ:ETSY) from a neutral rating to a buy rating in a report released on Friday, January 4th, MarketBeat Ratings reports. They currently have $54.00 price objective on the specialty retailer’s stock, up from their previous price objective of $46.00.
Several other analysts have also issued reports on ETSY. Zacks Investment Research raised shares of Etsy from a hold rating to a buy rating and set a $49.00 price target on the stock in a research report on Friday, November 2nd. BidaskClub lowered shares of Etsy from a buy rating to a hold rating in a research report on Saturday, December 22nd. ValuEngine lowered shares of Etsy from a strong-buy rating to a buy rating in a research report on Friday, December 21st. BTIG Research assumed coverage on shares of Etsy in a research report on Tuesday, November 13th. They set a buy rating and a $59.00 price target on the stock. Finally, Loop Capital set a $57.00 price target on shares of Etsy and gave the stock a buy rating in a research report on Tuesday, November 6th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Etsy presently has a consensus rating of Buy and an average target price of $52.07.
Shares of ETSY stock opened at $51.34 on Friday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 5.49 and a current ratio of 5.49. The firm has a market capitalization of $6.36 billion, a PE ratio of 122.72, a price-to-earnings-growth ratio of 4.55 and a beta of 0.85. 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 data on Tuesday, November 6th. The specialty retailer reported $0.15 EPS for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.09. The business had revenue of $150.37 million for 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%. The firm’s revenue for the quarter was up 41.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.21 earnings per share. Analysts anticipate 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 company’s stock in a transaction dated Tuesday, November 13th. The shares were sold at an average price of $51.12, for a total value of $1,835,208.00. Following the transaction, the director now directly owns 165,165 shares in the company, valued at $8,443,234.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Jill Simeone sold 11,572 shares of the company’s stock in a transaction dated Friday, January 4th. The shares were sold at an average price of $50.00, for a total transaction of $578,600.00. Following the completion of the transaction, the general counsel now owns 2,859 shares in the company, valued at $142,950. The disclosure for this sale can be found here. Corporate insiders own 2.80% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Cornerstone Advisors Inc. acquired a new stake in Etsy during the third quarter worth about $29,000. American International Group Inc. grew its stake in Etsy by 1.8% during the third quarter. American International Group Inc. now owns 79,285 shares of the specialty retailer’s stock worth $4,074,000 after buying an additional 1,429 shares in the last quarter. LPL Financial LLC grew its stake in Etsy by 6.4% during the third quarter. LPL Financial LLC now owns 37,844 shares of the specialty retailer’s stock worth $1,944,000 after buying an additional 2,261 shares in the last quarter. Mount Yale Investment Advisors LLC acquired a new stake in Etsy during the second quarter worth about $102,000. Finally, Great West Life Assurance Co. Can grew its stake 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 worth $463,000 after buying an additional 2,492 shares in the last quarter. Institutional investors and hedge funds own 89.86% of the company’s stock.
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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