ValuEngine Lowers Etsy (ETSY) to Buy

ValuEngine lowered shares of Etsy (NASDAQ:ETSY) from a strong-buy rating to a buy rating in a research report released on Thursday, ValuEngine reports.

Other equities analysts have also issued reports about the stock. Deutsche Bank initiated coverage on shares of Etsy in a report on Tuesday, January 29th. They issued a buy rating and a $64.00 price target on the stock. BidaskClub raised shares of Etsy from a hold rating to a buy rating in a report on Thursday, January 17th. Roth Capital lifted their price target on shares of Etsy from $64.00 to $72.00 and gave the stock a buy rating in a report on Tuesday, February 26th. DA Davidson lifted their price target on shares of Etsy to $71.00 and gave the stock a buy rating in a report on Tuesday, February 26th. Finally, BTIG Research lifted their price target on shares of Etsy to $67.00 and gave the stock a buy rating in a report on Tuesday, February 26th. Nine research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Etsy currently has a consensus rating of Buy and an average target price of $68.87.

Shares of NASDAQ:ETSY opened at $59.30 on Thursday. The company has a market capitalization of $7.43 billion, a P/E ratio of 97.21, a price-to-earnings-growth ratio of 4.44 and a beta of 0.98. Etsy has a 52 week low of $28.60 and a 52 week high of $73.35. The company has a quick ratio of 6.07, a current ratio of 6.07 and a debt-to-equity ratio of 0.84.

Etsy (NASDAQ:ETSY) last released its quarterly earnings results on Wednesday, May 8th. The specialty retailer reported $0.24 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.10. Etsy had a net margin of 14.74% and a return on equity of 24.74%. The business had revenue of $169.33 million for the quarter, compared to analyst estimates of $170.72 million. During the same period in the previous year, the company earned $0.10 earnings per share. The business’s revenue for the quarter was up 40.0% on a year-over-year basis. On average, sell-side analysts predict that Etsy will post 0.71 EPS for the current fiscal year.

In other news, General Counsel Jill Simeone sold 1,158 shares of the business’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $69.34, for a total transaction of $80,295.72. Following the sale, the general counsel now directly owns 4,734 shares of the company’s stock, valued at $328,255.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Michael T. Fisher sold 57,292 shares of the business’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $68.65, for a total transaction of $3,933,095.80. Following the sale, the insider now directly owns 84,518 shares in the company, valued at $5,802,160.70. The disclosure for this sale can be found here. Insiders have sold 184,285 shares of company stock worth $12,638,801 over the last three months. Corporate insiders own 3.00% of the company’s stock.

A number of large investors have recently bought and sold shares of ETSY. Quadrant Capital Group LLC purchased a new stake in Etsy in the first quarter valued at $30,000. Optimum Investment Advisors purchased a new stake in Etsy in the fourth quarter valued at $33,000. Rockefeller Capital Management L.P. purchased a new stake in Etsy in the first quarter valued at $33,000. Quantamental Technologies LLC purchased a new stake in Etsy in the fourth quarter valued at $43,000. Finally, First Quadrant L P CA purchased a new stake in Etsy in the fourth quarter valued at $45,000. 93.66% of the stock is currently owned by 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.

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Analyst Recommendations for Etsy (NASDAQ:ETSY)

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