Etsy’s (ETSY) “Neutral” Rating Reaffirmed at Piper Jaffray Companies
Piper Jaffray Companies reaffirmed their neutral rating on shares of Etsy, Inc. (NASDAQ:ETSY) in a report released on Wednesday. They currently have a $14.50 price objective on the specialty retailer’s stock.
A number of other research analysts have also recently issued reports on the company. Zacks Investment Research raised Etsy from a hold rating to a buy rating and set a $20.00 price objective on the stock in a research note on Friday, September 15th. DA Davidson assumed coverage on Etsy in a research note on Wednesday, September 6th. They set a buy rating and a $18.00 price objective on the stock. BidaskClub raised Etsy from a hold rating to a buy rating in a research note on Saturday, August 26th. Ifs Securities reaffirmed an outperform rating and set a $18.00 price objective on shares of Etsy in a research note on Thursday, August 24th. Finally, Stifel Nicolaus raised their price objective on Etsy from $13.00 to $15.00 and gave the company a hold rating in a research note on Friday, August 4th. Ten investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of Hold and a consensus target price of $15.00.
Etsy (NASDAQ:ETSY) traded down 0.18% during midday trading on Wednesday, hitting $16.52. The company’s stock had a trading volume of 1,501,722 shares. Etsy has a 52-week low of $9.41 and a 52-week high of $17.90. The company’s market cap is $1.83 billion. The stock has a 50 day moving average of $16.61 and a 200 day moving average of $13.87.
Etsy (NASDAQ:ETSY) last announced its quarterly earnings data on Thursday, August 3rd. The specialty retailer reported $0.10 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.06. Etsy had a positive return on equity of 3.83% and a negative net margin of 3.16%. The firm had revenue of $101.70 million for the quarter, compared to analysts’ expectations of $101.14 million. During the same period last year, the firm earned ($0.06) earnings per share. The company’s revenue for the quarter was up 19.2% compared to the same quarter last year. On average, equities analysts expect that Etsy will post $0.27 EPS for the current year.
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In other Etsy news, CEO Josh Silverman bought 64,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The shares were bought at an average cost of $15.67 per share, with a total value of $1,002,880.00. Following the completion of the purchase, the chief executive officer now directly owns 64,000 shares of the company’s stock, valued at $1,002,880. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 4.00% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of ETSY. Janus Henderson Group PLC purchased a new stake in Etsy in the second quarter worth about $95,291,000. TPG Group Holdings SBS Advisors Inc. lifted its holdings in Etsy by 2,287.5% in the second quarter. TPG Group Holdings SBS Advisors Inc. now owns 5,003,888 shares of the specialty retailer’s stock worth $75,058,000 after buying an additional 4,794,297 shares during the period. Dragoneer Investment Group LLC purchased a new stake in Etsy in the first quarter worth about $24,331,000. Janus Capital Management LLC lifted its holdings 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 worth $66,140,000 after buying an additional 1,726,152 shares during the period. Finally, Southpoint Capital Advisors LP purchased a new stake in Etsy in the second quarter worth about $16,650,000. Institutional investors and hedge funds own 73.03% 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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