Etsy (NYSE:ETSY) Rating Increased to Strong-Buy at Zacks Research

Etsy (NYSE:ETSY) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report issued on Monday,Zacks.com reports.

A number of other brokerages have also commented on ETSY. BNP Paribas Exane upgraded shares of Etsy to a “hold” rating in a research note on Monday, November 24th. Citigroup upgraded shares of Etsy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 30th. Barclays upgraded shares of Etsy from an “equal weight” rating to an “overweight” rating and set a $72.00 target price for the company in a research note on Thursday, February 19th. Weiss Ratings reissued a “hold (c)” rating on shares of Etsy in a report on Monday, December 29th. Finally, Wall Street Zen raised Etsy from a “hold” rating to a “buy” rating in a report on Saturday. Two equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $72.00.

Etsy Stock Up 3.8%

Shares of ETSY stock opened at $54.38 on Monday. The stock has a market cap of $5.23 billion, a P/E ratio of 41.51, a price-to-earnings-growth ratio of 3.64 and a beta of 1.77. Etsy has a one year low of $40.05 and a one year high of $76.51. The company’s 50-day moving average price is $55.65.

Etsy (NYSE:ETSY) last issued its earnings results on Thursday, February 19th. The company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.04. Etsy had a net margin of 5.65% and a negative return on equity of 24.94%. The business had revenue of $881.64 million during the quarter.

About Etsy

Etsy, Inc operates two-sided online marketplaces that connect buyers and sellers primarily in the United States, the United Kingdom, Germany, Canada, Australia, France, and India. Its primary marketplace is Etsy.com that connects artisans and entrepreneurs with various consumers. The company also offers Reverb, a musical instrument marketplace; Depop, a fashion resale marketplace; and Elo7, a Brazil-based marketplace for handmade and unique items. In addition, it offers various seller services, including Etsy Payments, a payment processing service; Etsy Ads, an advertising platform; and Shipping Labels, which allows sellers in the United States, Canada, the United Kingdom, Australia, and India to purchase discounted shipping labels.