DA Davidson Reaffirms Buy Rating for Etsy (ETSY)

Etsy (NASDAQ:ETSY)‘s stock had its “buy” rating reaffirmed by analysts at DA Davidson in a research note issued to investors on Friday, The Fly reports. They presently have a $59.00 target price on the specialty retailer’s stock, up from their prior target price of $53.00. DA Davidson’s target price indicates a potential upside of 11.64% from the company’s current price.

A number of other research firms have also weighed in on ETSY. Loop Capital raised their target price on Etsy from $37.00 to $50.00 and gave the company a “buy” rating in a report on Monday, June 18th. KeyCorp raised their target price on Etsy from $36.00 to $48.00 and gave the company an “overweight” rating in a report on Friday, June 15th. Zacks Investment Research upgraded Etsy from a “hold” rating to a “buy” rating and set a $32.00 target price on the stock in a report on Wednesday, May 23rd. ValuEngine upgraded Etsy from a “buy” rating to a “strong-buy” rating in a report on Wednesday, June 6th. Finally, Royal Bank of Canada raised their target price on Etsy to $42.00 and gave the company a “sector perform” rating in a report on Friday, June 15th. One analyst has rated the stock with a sell rating, five have given a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $44.38.

ETSY stock opened at $52.85 on Friday. Etsy has a twelve month low of $15.27 and a twelve month high of $53.25. The company has a debt-to-equity ratio of 0.90, a quick ratio of 5.87 and a current ratio of 5.87. The company has a market capitalization of $5.89 billion, a PE ratio of 122.93, a P/E/G ratio of 7.86 and a beta of 0.23.

Etsy (NASDAQ:ETSY) last posted its earnings results on Monday, August 6th. The specialty retailer reported $0.03 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.04 by ($0.01). Etsy had a net margin of 17.52% and a return on equity of 13.23%. The company had revenue of $132.39 million during the quarter, compared to the consensus estimate of $127.10 million. During the same quarter in the prior year, the business earned $0.10 EPS. The firm’s revenue for the quarter was up 30.2% compared to the same quarter last year. equities research analysts anticipate that Etsy will post 0.42 EPS for the current fiscal year.

In related news, Director Frederick R. Wilson sold 22,062 shares of Etsy stock in a transaction on Wednesday, August 15th. The stock was sold at an average price of $45.48, for a total transaction of $1,003,379.76. Following the sale, the director now directly owns 23,487 shares in the company, valued at $1,068,188.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Melissa Reiff sold 35,000 shares of Etsy stock in a transaction on Friday, August 17th. The stock was sold at an average price of $46.01, for a total value of $1,610,350.00. Following the sale, the director now owns 25,285 shares in the company, valued at $1,163,362.85. The disclosure for this sale can be found here. Insiders have sold 107,062 shares of company stock worth $4,834,580 over the last quarter. 2.80% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently modified their holdings of ETSY. Gilder Gagnon Howe & Co. LLC lifted its holdings in Etsy by 139.1% during the second quarter. Gilder Gagnon Howe & Co. LLC now owns 4,506,559 shares of the specialty retailer’s stock worth $190,132,000 after acquiring an additional 2,621,521 shares during the period. Brown Advisory Inc. purchased a new stake in Etsy in the second quarter worth $29,384,000. Glenmede Trust Co. NA increased its position in Etsy by 334,836.8% in the second quarter. Glenmede Trust Co. NA now owns 572,742 shares of the specialty retailer’s stock worth $24,163,000 after buying an additional 572,571 shares during the last quarter. OppenheimerFunds Inc. increased its position in Etsy by 64.1% in the first quarter. OppenheimerFunds Inc. now owns 1,367,768 shares of the specialty retailer’s stock worth $38,380,000 after buying an additional 534,217 shares during the last quarter. Finally, Redwood Investments LLC purchased a new stake in Etsy in the second quarter worth $19,696,000. Institutional investors and hedge funds own 86.75% 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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The Fly

Analyst Recommendations for Etsy (NASDAQ:ETSY)

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