Etsy (NASDAQ:ETSY) Given a $64.00 Price Target by Wedbush Analysts

Etsy (NASDAQ:ETSY) has been assigned a $64.00 price objective by equities researchers at Wedbush in a research report issued on Friday, TipRanks reports. The brokerage presently has a “hold” rating on the specialty retailer’s stock. Wedbush’s target price points to a potential upside of 15.71% from the company’s current price. Wedbush also issued estimates for Etsy’s Q1 2020 earnings at $0.27 EPS, Q2 2020 earnings at $0.14 EPS, Q3 2020 earnings at $0.19 EPS, Q4 2020 earnings at $0.35 EPS and FY2021 earnings at $1.37 EPS.

ETSY has been the subject of a number of other reports. Canaccord Genuity initiated coverage on shares of Etsy in a research note on Thursday, April 4th. They issued a “buy” rating and a $85.00 target price for the company. ValuEngine downgraded shares of Etsy from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. TheStreet downgraded shares of Etsy from a “b” rating to a “c+” rating in a research note on Friday, May 24th. Stifel Nicolaus boosted their price target on shares of Etsy from $62.00 to $70.00 and gave the stock a “hold” rating in a research note on Friday. Finally, BidaskClub downgraded shares of Etsy from a “buy” rating to a “hold” rating in a research note on Wednesday, June 26th. Nine investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Etsy has a consensus rating of “Buy” and an average target price of $72.00.

Shares of NASDAQ ETSY traded up $1.37 during trading on Friday, reaching $55.31. The company had a trading volume of 2,344,739 shares, compared to its average volume of 2,391,199. Etsy has a 52 week low of $38.02 and a 52 week high of $73.35. The stock has a market cap of $7.18 billion, a PE ratio of 90.67, a PEG ratio of 3.94 and a beta of 0.92. The company has a current ratio of 4.87, a quick ratio of 4.87 and a debt-to-equity ratio of 0.81. The business’s 50 day moving average is $65.00.

Etsy (NASDAQ:ETSY) last announced its earnings results on Thursday, August 1st. The specialty retailer reported $0.14 earnings per share for the quarter, hitting the Zacks’ 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 during the quarter, compared to the consensus estimate of $183.28 million. During the same period in the previous year, the firm posted $0.07 earnings per share. The company’s revenue was up 36.8% on a year-over-year basis. As a group, equities analysts expect that Etsy will post 0.78 EPS for the current year.

In related news, CTO Michael T. Fisher sold 5,209 shares of the business’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $61.31, for a total transaction of $319,363.79. Following the completion of the transaction, the chief technology officer now owns 32,435 shares in the company, valued at $1,988,589.85. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO Michael T. Fisher sold 5,208 shares of the business’s stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $63.37, for a total transaction of $330,030.96. Following the transaction, the chief technology officer now owns 22,580 shares of the company’s stock, valued at approximately $1,430,894.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 28,364 shares of company stock valued at $1,758,788. Corporate insiders own 3.00% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of ETSY. Quadrant Capital Group LLC acquired a new position in Etsy during the first quarter valued at approximately $30,000. Institutional & Family Asset Management LLC boosted its holdings in shares of Etsy by 267.7% in the first quarter. Institutional & Family Asset Management LLC now owns 467 shares of the specialty retailer’s stock valued at $31,000 after buying an additional 340 shares during the period. Hanson McClain Inc. acquired a new position in shares of Etsy in the second quarter valued at approximately $31,000. FNY Investment Advisers LLC acquired a new position in shares of Etsy in the second quarter valued at approximately $80,000. Finally, First Quadrant L P CA boosted its holdings in shares of Etsy by 82.3% in the first quarter. First Quadrant L P CA now owns 1,730 shares of the specialty retailer’s stock valued at $116,000 after buying an additional 781 shares during the period. Hedge funds and other institutional investors own 95.50% 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.

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Analyst Recommendations for Etsy (NASDAQ:ETSY)

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