Brokerages Set Etsy Inc (ETSY) Target Price at $67.08

Etsy Inc (NASDAQ:ETSY) has been given an average recommendation of “Buy” by the nineteen ratings firms that are currently covering the company, Marketbeat Ratings reports. Nine investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $67.08.

A number of brokerages recently commented on ETSY. Zacks Investment Research lowered shares of Etsy from a “buy” rating to a “hold” rating in a research note on Friday, January 4th. BidaskClub lowered shares of Etsy from a “buy” rating to a “hold” rating in a research report on Thursday, March 21st. Oppenheimer began coverage on shares of Etsy in a research report on Friday. They set a “market perform” rating on the stock. BTIG Research increased their target price on shares of Etsy to $67.00 and gave the stock a “buy” rating in a research report on Tuesday, February 26th. Finally, Royal Bank of Canada restated a “hold” rating and set a $60.00 target price on shares of Etsy in a research report on Wednesday, March 13th.

Shares of ETSY opened at $67.22 on Wednesday. Etsy has a 52 week low of $26.81 and a 52 week high of $73.35. The stock has a market capitalization of $8.03 billion, a P/E ratio of 111.88, a P/E/G ratio of 7.15 and a beta of 1.04. 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 announced its quarterly earnings results on Monday, February 25th. The specialty retailer reported $0.32 EPS for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.06. Etsy had a net margin of 12.84% and a return on equity of 20.00%. The business had revenue of $200.00 million for the quarter, compared to analyst estimates of $194.77 million. During the same quarter in the prior year, the business earned $0.36 EPS. Etsy’s quarterly revenue was up 46.7% on a year-over-year basis. Equities analysts expect that Etsy will post 0.69 earnings per share for the current year.

In other Etsy news, insider Michael T. Fisher sold 2,604 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $69.36, for a total transaction of $180,613.44. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Jill Simeone sold 11,572 shares of the stock in a transaction that occurred on Friday, January 4th. The stock was sold at an average price of $50.00, for a total transaction of $578,600.00. Following the transaction, the general counsel now owns 2,859 shares in the company, valued at approximately $142,950. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 131,050 shares of company stock worth $8,761,823. Company insiders own 2.80% of the company’s stock.

Several large investors have recently made changes to their positions in the business. BlackRock Inc. boosted its position in shares of Etsy by 2.9% during the 4th quarter. BlackRock Inc. now owns 8,339,528 shares of the specialty retailer’s stock worth $396,711,000 after acquiring an additional 238,711 shares in the last quarter. Lord Abbett & CO. LLC boosted its position in shares of Etsy by 265.0% during the 4th quarter. Lord Abbett & CO. LLC now owns 2,392,175 shares of the specialty retailer’s stock worth $113,796,000 after acquiring an additional 1,736,734 shares in the last quarter. FMR LLC boosted its position in shares of Etsy by 68.3% during the 4th quarter. FMR LLC now owns 1,882,900 shares of the specialty retailer’s stock worth $89,570,000 after acquiring an additional 763,816 shares in the last quarter. 1832 Asset Management L.P. boosted its position in shares of Etsy by 33.1% during the 4th quarter. 1832 Asset Management L.P. now owns 1,507,000 shares of the specialty retailer’s stock worth $69,924,000 after acquiring an additional 374,900 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Etsy by 7.5% during the 4th quarter. Geode Capital Management LLC now owns 1,498,337 shares of the specialty retailer’s stock worth $71,275,000 after acquiring an additional 104,042 shares in the last quarter. Hedge funds and other institutional investors own 94.87% of the company’s stock.

About Etsy

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: Asset Allocation

Analyst Recommendations for Etsy (NASDAQ:ETSY)

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