Wall Street Zen Upgrades Etsy (NYSE:ETSY) to “Buy”

Etsy (NYSE:ETSY) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday.

A number of other equities research analysts also recently issued reports on the stock. Citigroup upgraded shares of Etsy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 30th. Zacks Research cut shares of Etsy from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 10th. Weiss Ratings restated a “hold (c)” rating on shares of Etsy in a report on Monday, December 29th. Evercore lowered Etsy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 30th. Finally, BNP Paribas Exane raised Etsy to a “hold” rating in a research report on Monday, November 24th. Two analysts have rated the stock with a Strong Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $72.00.

Etsy Stock Performance

Shares of NYSE:ETSY opened at $52.30 on Friday. The firm has a fifty day simple moving average of $55.66. Etsy has a 52 week low of $40.05 and a 52 week high of $76.51. The stock has a market capitalization of $5.03 billion, a P/E ratio of 39.92, a P/E/G ratio of 4.65 and a beta of 1.77.

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

Etsy Company Profile

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.