Oppenheimer Begins Coverage on Etsy (NASDAQ:ETSY)

Oppenheimer assumed coverage on shares of Etsy (NASDAQ:ETSY) in a research note published on Friday, March 29th, BenzingaRatingsTable reports. The brokerage issued a market perform rating on the specialty retailer’s stock.

ETSY has been the subject of a number of other research reports. Citigroup restated a buy rating and set a $80.00 price objective on shares of Etsy in a report on Tuesday, February 26th. KeyCorp upped their target price on Etsy from $75.00 to $90.00 and gave the stock an overweight rating in a report on Friday, March 8th. BidaskClub upgraded Etsy from a hold rating to a buy rating in a report on Thursday, January 17th. ValuEngine upgraded Etsy from a buy rating to a strong-buy rating in a report on Saturday, January 19th. Finally, Zacks Investment Research cut Etsy from a buy rating to a hold rating in a research note on Friday, January 4th. Nine research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus target price of $67.53.

Shares of NASDAQ ETSY traded down $0.85 during trading hours on Friday, hitting $63.40. 1,813,053 shares of the company traded hands, compared to its average volume of 1,703,443. The company has a market cap of $7.58 billion, a P/E ratio of 103.93, a P/E/G ratio of 4.60 and a beta of 1.01. The company has a debt-to-equity ratio of 0.84, a quick ratio of 6.07 and a current ratio of 6.07. Etsy has a 12 month low of $28.08 and a 12 month high of $73.35.

Etsy (NASDAQ:ETSY) last posted its quarterly earnings data on Monday, February 25th. The specialty retailer reported $0.32 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.06. Etsy had a return on equity of 20.00% and a net margin of 12.84%. The company had revenue of $200.00 million during the quarter, compared to analysts’ expectations of $194.77 million. During the same quarter in the previous year, the business earned $0.36 EPS. Etsy’s revenue was up 46.7% compared to the same quarter last year. As a group, equities analysts predict that Etsy will post 0.71 EPS for the current year.

In related news, insider Michael T. Fisher sold 46,874 shares of the firm’s stock in a transaction dated Tuesday, February 26th. The stock was sold at an average price of $65.00, for a total transaction of $3,046,810.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CTO Michael T. Fisher sold 2,604 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $69.37, for a total value of $180,639.48. Following the sale, the chief technology officer now directly owns 30,968 shares in the company, valued at $2,148,250.16. The disclosure for this sale can be found here. Insiders sold 126,993 shares of company stock worth $8,705,705 over the last three months. Corporate insiders own 2.80% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the stock. Cornerstone Advisors Inc. purchased a new position in Etsy during the third quarter worth approximately $29,000. Optimum Investment Advisors purchased a new position in Etsy during the fourth quarter worth approximately $33,000. Quantamental Technologies LLC purchased a new position in shares of Etsy in the fourth quarter valued at approximately $43,000. First Quadrant L P CA purchased a new position in shares of Etsy in the fourth quarter valued at approximately $45,000. Finally, NumerixS Investment Technologies Inc purchased a new position in shares of Etsy in the fourth quarter valued at approximately $76,000. 94.87% of the stock is currently owned by hedge funds and other institutional investors.

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.

Featured Story: Can individual investors take part in an IPO?

Analyst Recommendations for Etsy (NASDAQ:ETSY)

Receive News & Ratings for Etsy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Etsy and related companies with MarketBeat.com's FREE daily email newsletter.