Etsy (NASDAQ:ETSY) Lowered to Hold at ValuEngine

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

ETSY has been the topic of several other research reports. BidaskClub downgraded shares of Etsy from a buy rating to a hold rating in a report on Wednesday, June 26th. Stifel Nicolaus increased their price target on shares of Etsy from $58.00 to $62.00 and gave the stock a hold rating in a report on Thursday, May 9th. BTIG Research upgraded shares of Etsy from a neutral rating to a buy rating and set a $79.00 price target on the stock in a report on Thursday, July 25th. TheStreet downgraded shares of Etsy from a b rating to a c+ rating in a report on Friday, May 24th. Finally, Zacks Investment Research downgraded shares of Etsy from a buy rating to a hold rating in a report on Monday, July 29th. Nine research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Etsy has a consensus rating of Buy and an average price target of $71.75.

NASDAQ:ETSY traded down $4.59 during midday trading on Thursday, hitting $55.12. The company’s stock had a trading volume of 118,524 shares, compared to its average volume of 2,048,729. Etsy has a fifty-two week low of $38.02 and a fifty-two week high of $73.35. The company’s 50 day simple moving average is $65.61. The company has a debt-to-equity ratio of 0.81, a quick ratio of 4.87 and a current ratio of 4.87. The company has a market capitalization of $6.86 billion, a price-to-earnings ratio of 90.26, a P/E/G ratio of 3.91 and a beta of 0.92.

Etsy (NASDAQ:ETSY) last issued its quarterly earnings results on Thursday, August 1st. The specialty retailer reported $0.14 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.14. Etsy had a net margin of 15.83% and a return on equity of 27.38%. The company had revenue of $181.10 million for the quarter, compared to the consensus estimate of $183.28 million. During the same quarter in the prior year, the company earned $0.07 EPS. Etsy’s quarterly revenue was up 36.8% on a year-over-year basis. On average, sell-side analysts anticipate that Etsy will post 0.78 earnings per share for the current fiscal year.

In other Etsy news, CTO Michael T. Fisher sold 5,209 shares of the firm’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $61.31, for a total transaction of $319,363.79. Following the completion of the sale, the chief technology officer now owns 32,435 shares in the company, valued at approximately $1,988,589.85. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CTO Michael T. Fisher sold 5,208 shares of the stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $63.37, for a total value of $330,030.96. Following the transaction, the chief technology officer now directly owns 22,580 shares in the company, valued at approximately $1,430,894.60. The disclosure for this sale can be found here. Insiders have sold 28,364 shares of company stock worth $1,758,788 over the last quarter. 3.00% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Cooper Creek Partners Management LLC bought a new stake in shares of Etsy during the 1st quarter valued at $5,386,000. Freestone Capital Holdings LLC bought a new stake in shares of Etsy during the 1st quarter valued at $13,445,000. Foundry Partners LLC bought a new stake in shares of Etsy during the 1st quarter valued at $1,554,000. Peregrine Asset Advisers Inc. bought a new stake in shares of Etsy during the 1st quarter valued at $2,908,000. Finally, Zevenbergen Capital Investments LLC bought a new stake in shares of Etsy during the 1st quarter valued at $2,790,000. 95.50% of the stock is currently owned by institutional investors and hedge funds.

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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Analyst Recommendations for Etsy (NASDAQ:ETSY)

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