BidaskClub Lowers Etsy, Inc. (NASDAQ:ETSY) to Buy
BidaskClub lowered shares of Etsy, Inc. (NASDAQ:ETSY) from a strong-buy rating to a buy rating in a report issued on Tuesday morning.
A number of other brokerages have also commented on ETSY. Stifel Nicolaus reissued a hold rating and set a $13.00 price objective on shares of Etsy in a report on Friday, June 23rd. Loop Capital lowered Etsy from a buy rating to a hold rating in a report on Wednesday, May 17th. Royal Bank Of Canada reissued a hold rating and set a $12.00 price objective on shares of Etsy in a report on Friday, June 30th. Zacks Investment Research raised Etsy from a hold rating to a buy rating and set a $17.00 price objective for the company in a report on Tuesday, July 4th. Finally, TheStreet raised Etsy from a d rating to a c- rating in a report on Wednesday, May 24th. Ten equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Etsy has an average rating of Hold and a consensus price target of $13.73.
Shares of Etsy (NASDAQ ETSY) traded down 1.35% during midday trading on Tuesday, hitting $14.64. The company’s stock had a trading volume of 867,801 shares. The company has a 50-day moving average price of $14.58 and a 200 day moving average price of $12.43. Etsy has a 1-year low of $9.41 and a 1-year high of $16.05. The company’s market cap is $1.63 billion.
Etsy (NASDAQ:ETSY) last issued its quarterly earnings data on Tuesday, May 2nd. The specialty retailer reported $0.00 EPS for the quarter, missing analysts’ consensus estimates of $0.05 by $0.05. The company had revenue of $96.89 million for the quarter, compared to the consensus estimate of $98.64 million. Etsy had a negative return on equity of 2.01% and a negative net margin of 8.29%. On average, equities research analysts predict that Etsy will post $0.03 EPS for the current year.
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A number of institutional investors have recently bought and sold shares of ETSY. Dragoneer Investment Group LLC purchased a new position in Etsy during the first quarter valued at approximately $24,331,000. Janus Capital Management LLC increased its position in Etsy by 38.4% in the first quarter. Janus Capital Management LLC now owns 6,222,005 shares of the specialty retailer’s stock valued at $66,140,000 after buying an additional 1,726,152 shares during the last quarter. Point72 Asset Management L.P. increased its position in Etsy by 204.5% in the first quarter. Point72 Asset Management L.P. now owns 1,141,948 shares of the specialty retailer’s stock valued at $12,139,000 after buying an additional 766,948 shares during the last quarter. Wells Fargo & Company MN increased its position in Etsy by 70.6% in the first quarter. Wells Fargo & Company MN now owns 1,533,634 shares of the specialty retailer’s stock valued at $16,303,000 after buying an additional 634,855 shares during the last quarter. Finally, State Street Corp increased its position in Etsy by 33.7% in the fourth quarter. State Street Corp now owns 2,226,805 shares of the specialty retailer’s stock valued at $26,228,000 after buying an additional 560,837 shares during the last quarter. Institutional investors and hedge funds own 69.58% of the company’s stock.
Etsy, Inc (Etsy) operates a marketplace where people around the world connect, both online and offline, to make, sell and buy goods. The Company offers a range of seller services and tools that help entrepreneurs start, grow and manage their businesses. The Company’s community includes Etsy sellers, Etsy buyers, Etsy employees, its partners and investors.
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