Etsy (NASDAQ:ETSY) Given Buy Rating at Wedbush

Wedbush reissued their buy rating on shares of Etsy (NASDAQ:ETSY) in a research note released on Friday, AnalystRatings.com reports.

Several other equities research analysts have also commented on the company. Citigroup boosted their price target on Etsy from $100.00 to $170.00 and gave the stock a buy rating in a research note on Monday, August 10th. BTIG Research raised Etsy from a neutral rating to a buy rating and set a $138.00 price target on the stock in a research note on Friday, September 11th. Roth Capital raised Etsy from a neutral rating to a buy rating and boosted their price target for the stock from $150.00 to $160.00 in a research note on Thursday, August 6th. Canaccord Genuity boosted their price target on Etsy from $130.00 to $160.00 and gave the stock a buy rating in a research note on Thursday, August 6th. Finally, Goldman Sachs Group boosted their price target on Etsy from $88.00 to $120.00 and gave the stock a buy rating in a research note on Monday, June 22nd. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eighteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average target price of $129.27.

NASDAQ ETSY opened at $116.01 on Friday. The company has a current ratio of 4.27, a quick ratio of 4.27 and a debt-to-equity ratio of 1.63. The business’s 50 day moving average is $122.03 and its two-hundred day moving average is $87.42. Etsy has a 12-month low of $29.95 and a 12-month high of $141.41. The stock has a market capitalization of $13.84 billion, a price-to-earnings ratio of 95.09, a PEG ratio of 1.96 and a beta of 1.39.

Etsy (NASDAQ:ETSY) last released its earnings results on Wednesday, August 5th. The specialty retailer reported $0.75 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.36. Etsy had a return on equity of 35.91% and a net margin of 13.78%. The company had revenue of $428.74 million for the quarter, compared to analysts’ expectations of $334.37 million. Equities analysts forecast that Etsy will post 2.01 earnings per share for the current fiscal year.

In other news, CEO Josh Silverman sold 80,000 shares of the company’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $109.16, for a total transaction of $8,732,800.00. Following the completion of the sale, the chief executive officer now directly owns 80,000 shares in the company, valued at approximately $8,732,800. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jonathan D. Klein sold 25,000 shares of the company’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $110.01, for a total value of $2,750,250.00. Following the sale, the director now owns 61,971 shares of the company’s stock, valued at $6,817,429.71. The disclosure for this sale can be found here. In the last three months, insiders have sold 319,549 shares of company stock worth $37,919,205. Corporate insiders own 3.80% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Sowell Financial Services LLC increased its holdings in Etsy by 23.4% in the 1st quarter. Sowell Financial Services LLC now owns 1,035 shares of the specialty retailer’s stock valued at $40,000 after purchasing an additional 196 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in Etsy by 5.1% in the 2nd quarter. PNC Financial Services Group Inc. now owns 4,720 shares of the specialty retailer’s stock valued at $502,000 after purchasing an additional 231 shares in the last quarter. Creative Financial Designs Inc. ADV acquired a new stake in Etsy in the 2nd quarter valued at $25,000. Harbor Investment Advisory LLC acquired a new stake in Etsy in the 2nd quarter valued at $32,000. Finally, Bessemer Group Inc. increased its holdings in Etsy by 49.0% in the 2nd quarter. Bessemer Group Inc. now owns 988 shares of the specialty retailer’s stock valued at $105,000 after purchasing an additional 325 shares in the last quarter. Institutional investors and hedge funds own 91.78% 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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