Etsy (NASDAQ:ETSY) Upgraded by Royal Bank of Canada to “Outperform”

Etsy (NASDAQ:ETSY) was upgraded by analysts at Royal Bank of Canada from a “sector perform” rating to an “outperform” rating in a note issued to investors on Thursday, The Fly reports.

Other analysts have also issued reports about the company. ValuEngine lowered Etsy from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Wedbush raised Etsy from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $64.00 to $66.00 in a research note on Friday, September 13th. KeyCorp set a $90.00 price objective on Etsy and gave the company a “buy” rating in a research note on Friday, August 2nd. Stifel Nicolaus raised Etsy from a “hold” rating to a “buy” rating and set a $70.00 price target on the stock in a research note on Wednesday, August 21st. Finally, Zacks Investment Research lowered Etsy from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $73.27.

NASDAQ:ETSY traded down $0.38 during trading hours on Thursday, hitting $59.07. The company’s stock had a trading volume of 7,920,113 shares, compared to its average volume of 2,679,495. The stock has a fifty day simple moving average of $54.97 and a 200-day simple moving average of $63.26. The company has a market capitalization of $7.16 billion, a P/E ratio of 96.84, a PEG ratio of 3.55 and a beta of 1.01. The company has a debt-to-equity ratio of 0.77, a current ratio of 4.47 and a quick ratio of 4.47. Etsy has a twelve month low of $38.02 and a twelve month high of $73.35.

Etsy (NASDAQ:ETSY) last released its quarterly earnings data on Thursday, August 1st. The specialty retailer reported $0.14 earnings per share for the quarter, meeting the consensus estimate of $0.14. The business had revenue of $181.10 million for the quarter, compared to analyst estimates of $183.28 million. Etsy had a return on equity of 26.77% and a net margin of 15.83%. Etsy’s revenue was up 36.8% compared to the same quarter last year. During the same period last year, the firm posted $0.07 earnings per share. On average, equities analysts predict that Etsy will post 0.76 EPS for the current fiscal year.

In other news, CTO Michael T. Fisher sold 5,194 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $50.00, for a total transaction of $259,700.00. Following the completion of the transaction, the chief technology officer now directly owns 17,387 shares in the company, valued at $869,350. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Goyal Kruti Patel sold 4,505 shares of the firm’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $61.80, for a total value of $278,409.00. Following the transaction, the senior vice president now owns 16,389 shares of the company’s stock, valued at $1,012,840.20. The disclosure for this sale can be found here. Insiders have sold 33,572 shares of company stock worth $1,987,881 over the last three months. Insiders own 3.00% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of ETSY. First Trust Advisors LP raised its position in shares of Etsy by 1,054.2% during the first quarter. First Trust Advisors LP now owns 2,426,537 shares of the specialty retailer’s stock worth $163,112,000 after acquiring an additional 2,216,303 shares during the last quarter. Nuveen Asset Management LLC raised its position in shares of Etsy by 1,516.5% during the second quarter. Nuveen Asset Management LLC now owns 811,879 shares of the specialty retailer’s stock worth $49,824,000 after acquiring an additional 761,653 shares during the last quarter. Jennison Associates LLC bought a new position in shares of Etsy during the first quarter worth about $37,664,000. Paloma Partners Management Co raised its position in shares of Etsy by 2,345.8% during the second quarter. Paloma Partners Management Co now owns 356,547 shares of the specialty retailer’s stock worth $21,882,000 after acquiring an additional 341,969 shares during the last quarter. Finally, Invesco Ltd. raised its position in shares of Etsy by 22.0% during the second quarter. Invesco Ltd. now owns 1,476,169 shares of the specialty retailer’s stock worth $90,593,000 after acquiring an additional 266,462 shares during the last quarter. Institutional investors own 92.44% of the company’s stock.

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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The Fly

Analyst Recommendations for Etsy (NASDAQ:ETSY)

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