Etsy (NASDAQ:ETSY) Stock Rating Lowered by BidaskClub

Etsy (NASDAQ:ETSY) was downgraded by investment analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Thursday, BidAskClub reports.

Other equities analysts also recently issued research reports about the stock. Nomura Instinet increased their price target on shares of Etsy from $66.00 to $82.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Zacks Investment Research upgraded shares of Etsy from a “hold” rating to a “buy” rating and set a $90.00 price target for the company in a report on Tuesday, May 12th. Wedbush increased their price target on shares of Etsy from $75.00 to $88.00 and gave the company an “outperform” rating in a report on Thursday, May 7th. ValuEngine downgraded shares of Etsy from a “buy” rating to a “hold” rating in a report on Wednesday, May 6th. Finally, Nomura Securities increased their price target on shares of Etsy from $61.00 to $66.00 in a report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $75.80.

Shares of ETSY stock traded up $3.17 during mid-day trading on Thursday, hitting $77.48. The stock had a trading volume of 2,767,824 shares, compared to its average volume of 4,556,011. Etsy has a fifty-two week low of $29.95 and a fifty-two week high of $88.02. The firm has a market cap of $8.82 billion, a PE ratio of 127.02, a PEG ratio of 3.16 and a beta of 1.63. The company has a debt-to-equity ratio of 2.08, a current ratio of 5.71 and a quick ratio of 5.71. The company’s 50-day simple moving average is $64.38 and its 200-day simple moving average is $51.02.

Etsy (NASDAQ:ETSY) last released its earnings results on Wednesday, May 6th. The specialty retailer reported $0.10 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($0.08). The firm had revenue of $228.05 million during the quarter, compared to analyst estimates of $219.34 million. Etsy had a return on equity of 18.68% and a net margin of 8.76%. The firm’s revenue was up 34.7% on a year-over-year basis. During the same quarter last year, the business posted $0.24 EPS. On average, analysts expect that Etsy will post 1.05 EPS for the current year.

In related news, Director Frederick R. Wilson sold 20,219 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $60.02, for a total value of $1,213,544.38. Following the sale, the director now directly owns 779,781 shares of the company’s stock, valued at $46,802,455.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Raina Moskowitz sold 785 shares of the firm’s stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $68.00, for a total transaction of $53,380.00. Following the completion of the sale, the senior vice president now directly owns 7,732 shares in the company, valued at $525,776. The disclosure for this sale can be found here. Insiders have sold a total of 332,333 shares of company stock worth $21,336,028 over the last ninety days. 3.80% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sowell Financial Services LLC boosted its position in shares of Etsy by 23.4% in the first quarter. Sowell Financial Services LLC now owns 1,035 shares of the specialty retailer’s stock worth $40,000 after acquiring an additional 196 shares during the last quarter. Advisors Asset Management Inc. boosted its position in shares of Etsy by 0.8% in the fourth quarter. Advisors Asset Management Inc. now owns 25,793 shares of the specialty retailer’s stock worth $1,143,000 after acquiring an additional 207 shares during the last quarter. Municipal Employees Retirement System of Michigan boosted its position in shares of Etsy by 1.1% in the fourth quarter. Municipal Employees Retirement System of Michigan now owns 22,340 shares of the specialty retailer’s stock worth $990,000 after acquiring an additional 240 shares during the last quarter. First Republic Investment Management Inc. boosted its position in shares of Etsy by 2.1% in the fourth quarter. First Republic Investment Management Inc. now owns 11,803 shares of the specialty retailer’s stock worth $523,000 after acquiring an additional 242 shares during the last quarter. Finally, Comerica Bank boosted its position in shares of Etsy by 0.4% in the first quarter. Comerica Bank now owns 68,644 shares of the specialty retailer’s stock worth $4,544,000 after acquiring an additional 282 shares during the last quarter. 97.62% of the stock is currently 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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