Etsy (NYSE:ETSY) Upgraded by Zacks Research to Strong-Buy Rating

Zacks Research upgraded shares of Etsy (NYSE:ETSY) from a hold rating to a strong-buy rating in a research note published on Monday,Zacks.com reports.

Several other research firms have also recently issued reports on ETSY. BNP Paribas Exane upgraded shares of Etsy to a “hold” rating in a research note on Monday, November 24th. Wall Street Zen upgraded Etsy from a “hold” rating to a “buy” rating in a research report on Saturday. Citigroup raised Etsy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 30th. Barclays upgraded Etsy from an “equal weight” rating to an “overweight” rating and set a $72.00 target price for the company in a research report on Thursday, February 19th. Finally, Evercore cut Etsy from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 30th. Two research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Etsy currently has an average rating of “Moderate Buy” and an average target price of $72.00.

Etsy Trading Up 3.8%

Shares of NYSE ETSY opened at $54.38 on Monday. The company has a market cap of $5.23 billion, a P/E ratio of 41.51, a P/E/G ratio of 3.64 and a beta of 1.77. Etsy has a 52 week low of $40.05 and a 52 week high of $76.51. The business has a 50-day moving average of $55.65.

Etsy (NYSE:ETSY) last announced its quarterly earnings results on Thursday, February 19th. The company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.04. Etsy had a net margin of 5.65% and a negative return on equity of 24.94%. The firm had revenue of $881.64 million for the quarter.

Etsy Company Profile

Etsy, Inc operates two-sided online marketplaces that connect buyers and sellers primarily in the United States, the United Kingdom, Germany, Canada, Australia, France, and India. Its primary marketplace is Etsy.com that connects artisans and entrepreneurs with various consumers. The company also offers Reverb, a musical instrument marketplace; Depop, a fashion resale marketplace; and Elo7, a Brazil-based marketplace for handmade and unique items. In addition, it offers various seller services, including Etsy Payments, a payment processing service; Etsy Ads, an advertising platform; and Shipping Labels, which allows sellers in the United States, Canada, the United Kingdom, Australia, and India to purchase discounted shipping labels.