Etsy (NASDAQ:ETSY) Lifted to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Etsy (NASDAQ:ETSY) from a hold rating to a buy rating in a research note published on Wednesday, Zacks.com reports. They currently have $72.00 price target on the specialty retailer’s stock.

According to Zacks, “Etsy, Inc. offers e-commerce services. It provides online and offline marketplaces to buy and sell goods. The company’s product include art, home and living, mobile accessories, jewelry, wedding, and others. It operates primarily in Berlin, Germany, Dublin, Ireland, Hudson, New York, London, United Kingdom, Melbourne, Australia, Paris, France, San Francisco, California and Toronto, Canada. Etsy, Inc. is headquartered in Brooklyn, New York. “

ETSY has been the subject of several other research reports. BTIG Research reaffirmed a hold rating on shares of Etsy in a research report on Tuesday, March 19th. Stifel Nicolaus raised shares of Kimbell Royalty Partners from a hold rating to a buy rating and set a $19.00 price target for the company in a research report on Thursday, May 9th. ValuEngine raised shares of VESTAS WIND SYS/ADR from a hold rating to a buy rating in a research report on Thursday, May 9th. Canaccord Genuity upped their price target on shares of Roots from C$5.00 to C$5.50 in a research report on Thursday, April 4th. Finally, Oppenheimer assumed coverage on shares of Etsy in a research report on Friday, March 29th. They issued a market perform rating for the company. Eight research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $70.25.

Etsy stock opened at $64.60 on Wednesday. The stock has a market cap of $7.76 billion, a PE ratio of 105.90, a price-to-earnings-growth ratio of 4.26 and a beta of 0.92. The company has a debt-to-equity ratio of 0.81, a quick ratio of 4.87 and a current ratio of 4.87. Etsy has a 1 year low of $38.02 and a 1 year high of $73.35. The firm has a 50-day moving average of $64.45.

Etsy (NASDAQ:ETSY) last released its quarterly earnings data on Wednesday, May 8th. The specialty retailer reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.10. The company had revenue of $169.33 million during the quarter, compared to analysts’ expectations of $170.72 million. Etsy had a net margin of 14.74% and a return on equity of 24.24%. The firm’s quarterly revenue was up 40.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.10 EPS. On average, research analysts predict that Etsy will post 0.79 earnings per share for the current year.

In related news, insider Michael T. Fisher sold 57,292 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the insider now owns 84,518 shares in the company, valued at approximately $5,802,160.70. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Goyal Kruti Patel sold 4,505 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $61.80, for a total transaction of $278,409.00. Following the transaction, the senior vice president now owns 16,389 shares of the company’s stock, valued at approximately $1,012,840.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 85,656 shares of company stock valued at $5,691,884. 3.00% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. First Trust Advisors LP increased its stake in Etsy by 1,054.2% during the 1st quarter. First Trust Advisors LP now owns 2,426,537 shares of the specialty retailer’s stock valued at $163,112,000 after purchasing an additional 2,216,303 shares in the last quarter. Norges Bank acquired a new position in Etsy during the 4th quarter valued at approximately $54,602,000. FMR LLC increased its stake in Etsy by 68.3% during the 4th quarter. FMR LLC now owns 1,882,900 shares of the specialty retailer’s stock valued at $89,570,000 after purchasing an additional 763,816 shares in the last quarter. Millennium Management LLC acquired a new position in Etsy during the 4th quarter valued at approximately $34,003,000. Finally, Jennison Associates LLC acquired a new position in Etsy during the 1st quarter valued at approximately $37,664,000. Hedge funds and other institutional investors own 95.58% 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.

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