Etsy (NASDAQ:ETSY) Earns Buy Rating from Needham & Company LLC

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Etsy (NASDAQ:ETSY)‘s stock had its “buy” rating reaffirmed by investment analysts at Needham & Company LLC in a report released on Thursday, Stock Target Advisor reports. They presently have a $64.00 target price on the specialty retailer’s stock. Needham & Company LLC’s price objective would indicate a potential upside of 51.34% from the company’s current price.

Other analysts also recently issued reports about the stock. Morgan Stanley downgraded shares of Etsy from an “equal weight” rating to an “underweight” rating and set a $38.00 price target on the stock. in a report on Thursday, December 5th. Loop Capital dropped their price target on shares of Etsy to $70.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Zacks Investment Research raised shares of Etsy from a “sell” rating to a “hold” rating in a report on Wednesday, December 4th. Stifel Nicolaus upgraded shares of Etsy from a “hold” rating to a “buy” rating and set a $70.00 price objective for the company in a research report on Wednesday, August 21st. Finally, BidaskClub cut shares of Etsy from a “sell” rating to a “strong sell” rating in a research report on Wednesday, November 20th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $65.58.

Etsy stock opened at $42.29 on Thursday. The company has a current ratio of 6.11, a quick ratio of 6.11 and a debt-to-equity ratio of 2.14. Etsy has a 12 month low of $39.76 and a 12 month high of $73.35. The stock’s 50 day simple moving average is $44.51 and its two-hundred day simple moving average is $56.06. The firm has a market cap of $4.86 billion, a PE ratio of 69.33, a P/E/G ratio of 2.99 and a beta of 0.94.

Etsy (NASDAQ:ETSY) last posted its earnings results on Wednesday, October 30th. The specialty retailer reported $0.12 earnings per share for the quarter, meeting the consensus estimate of $0.12. Etsy had a net margin of 14.14% and a return on equity of 25.62%. The firm had revenue of $197.95 million during the quarter, compared to analyst estimates of $193.31 million. During the same period in the previous year, the firm earned $0.15 EPS. The business’s quarterly revenue was up 31.6% on a year-over-year basis. On average, equities research analysts forecast that Etsy will post 0.67 EPS for the current year.

In other news, SVP Goyal Kruti Patel sold 3,754 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $53.28, for a total transaction of $200,013.12. Following the transaction, the senior vice president now directly owns 11,406 shares in the company, valued at approximately $607,711.68. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CTO Michael T. Fisher sold 3,289 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $53.21, for a total value of $175,007.69. Following the transaction, the chief technology officer now owns 24,403 shares in the company, valued at $1,298,483.63. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 12,251 shares of company stock worth $668,335. 3.00% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in the stock. Aperio Group LLC increased its stake in Etsy by 0.4% during the 2nd quarter. Aperio Group LLC now owns 41,990 shares of the specialty retailer’s stock worth $2,577,000 after buying an additional 175 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Etsy by 2.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,762 shares of the specialty retailer’s stock worth $439,000 after acquiring an additional 213 shares during the last quarter. Keybank National Association OH grew its holdings in Etsy by 2.1% during the 2nd quarter. Keybank National Association OH now owns 11,069 shares of the specialty retailer’s stock worth $679,000 after acquiring an additional 232 shares in the last quarter. Intrust Bank NA grew its holdings in Etsy by 1.8% during the 2nd quarter. Intrust Bank NA now owns 15,690 shares of the specialty retailer’s stock worth $963,000 after acquiring an additional 271 shares in the last quarter. Finally, Flagship Harbor Advisors LLC increased its position in shares of Etsy by 132.0% in the 3rd quarter. Flagship Harbor Advisors LLC now owns 536 shares of the specialty retailer’s stock valued at $30,000 after purchasing an additional 305 shares during the last quarter. Hedge funds and other institutional investors own 99.65% 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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