Etsy (NASDAQ:ETSY) Given a $65.00 Price Target by Morgan Stanley Analysts

Morgan Stanley set a $65.00 target price on Etsy (NASDAQ:ETSY) in a report issued on Friday morning, TipRanks reports. The firm currently has a hold rating on the specialty retailer’s stock.

A number of other research analysts have also recently issued reports on the company. BidaskClub cut Etsy from a buy rating to a hold rating in a report on Wednesday, June 26th. Needham & Company LLC started coverage on Etsy in a report on Monday, July 1st. They set a buy rating and a $75.00 price objective for the company. Wedbush set a $64.00 price objective on Etsy and gave the company a hold rating in a report on Friday. Zacks Investment Research cut Etsy from a buy rating to a hold rating in a report on Monday, July 29th. Finally, Canaccord Genuity started coverage on Etsy in a report on Thursday, April 4th. They set a buy rating and a $85.00 price objective for the company. Nine investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Etsy currently has an average rating of Buy and a consensus target price of $72.00.

ETSY traded up $1.28 during trading on Friday, reaching $55.22. 122,370 shares of the company’s stock were exchanged, compared to its average volume of 2,391,199. Etsy has a fifty-two week low of $38.02 and a fifty-two week high of $73.35. The company has a debt-to-equity ratio of 0.81, a current ratio of 4.87 and a quick ratio of 4.87. The firm has a 50 day moving average of $65.00. The company has a market cap of $7.18 billion, a P/E ratio of 90.89, a P/E/G ratio of 3.94 and a beta of 0.92.

Etsy (NASDAQ:ETSY) last posted its quarterly 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 firm had revenue of $181.10 million for the quarter, compared to the consensus estimate of $183.28 million. During the same quarter in the previous year, the company earned $0.07 earnings per share. The business’s revenue was up 36.8% compared to the same quarter last year. Sell-side analysts anticipate that Etsy will post 0.78 earnings per share for the current fiscal year.

In related news, CTO Michael T. Fisher sold 5,208 shares of Etsy stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $63.37, for a total value of $330,030.96. Following the completion of the transaction, the chief technology officer now directly owns 22,580 shares of the company’s stock, valued at $1,430,894.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Michael T. Fisher sold 5,209 shares of Etsy stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $61.31, for a total value of $319,363.79. Following the completion of the transaction, the chief technology officer now directly owns 32,435 shares of the company’s stock, valued at $1,988,589.85. The disclosure for this sale can be found here. Insiders sold 28,364 shares of company stock valued at $1,758,788 over the last ninety days. 3.00% of the stock is currently owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Cooper Creek Partners Management LLC bought a new position in shares of Etsy in the first quarter valued at about $5,386,000. Freestone Capital Holdings LLC bought a new position in shares of Etsy in the first quarter valued at about $13,445,000. Foundry Partners LLC bought a new position in shares of Etsy in the first quarter valued at about $1,554,000. Peregrine Asset Advisers Inc. bought a new position in shares of Etsy in the first quarter valued at about $2,908,000. Finally, Zevenbergen Capital Investments LLC bought a new position in shares of Etsy in the first quarter valued at about $2,790,000. 95.50% of the stock is 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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