Zacks Investment Research Downgrades Etsy, Inc. (ETSY) to Hold
Etsy, Inc. (NASDAQ:ETSY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
According to Zacks, “Etsy, Inc. offers e-commerce services. It provides online and offline marketplaces to buy and sell goods. The company’s product include art, home and living, mobile accessories, jewelry, wedding, and others. It operates primarily in Berlin, Germany, Dublin, Ireland, Hudson, New York, London, United Kingdom, Melbourne, Australia, Paris, France, San Francisco, California and Toronto, Canada. Etsy, Inc. is headquartered in Brooklyn, New York. “
A number of other analysts also recently issued reports on the company. DA Davidson assumed coverage on Etsy in a report on Wednesday, September 6th. They set a “buy” rating and a $18.00 price target for the company. BidaskClub raised Etsy from a “hold” rating to a “buy” rating in a report on Saturday, August 26th. Ifs Securities reaffirmed an “outperform” rating and set a $18.00 price target on shares of Etsy in a report on Thursday, August 24th. Stifel Nicolaus lifted their price target on Etsy from $13.00 to $15.00 and gave the stock a “hold” rating in a report on Friday, August 4th. Finally, Royal Bank Of Canada lifted their price target on Etsy from $12.00 to $16.00 and gave the stock a “sector perform” rating in a report on Friday, August 4th. Eleven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $15.00.
Shares of Etsy (ETSY) opened at 17.76 on Wednesday. The firm has a 50-day moving average price of $15.85 and a 200-day moving average price of $13.19. The stock’s market capitalization is $1.97 billion. Etsy has a 1-year low of $9.41 and a 1-year high of $17.90.
Etsy (NASDAQ:ETSY) last announced its quarterly earnings results on Thursday, August 3rd. The specialty retailer reported $0.10 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.06. The company had revenue of $101.70 million during the quarter, compared to the consensus estimate of $101.14 million. Etsy had a positive return on equity of 3.83% and a negative net margin of 3.16%. Etsy’s revenue for the quarter was up 19.2% on a year-over-year basis. During the same period in the previous year, the business earned ($0.06) EPS. On average, equities research analysts forecast that Etsy will post $0.27 earnings per share for the current year.
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In related news, CEO Josh Silverman acquired 64,000 shares of Etsy stock in a transaction on Tuesday, August 8th. The stock was purchased at an average cost of $15.67 per share, with a total value of $1,002,880.00. Following the purchase, the chief executive officer now directly owns 64,000 shares in the company, valued at $1,002,880. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 4.00% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of ETSY. FNY Managed Accounts LLC purchased a new stake in Etsy during the 1st quarter valued at approximately $105,000. UBS Group AG raised its stake in Etsy by 30.7% during the 1st quarter. UBS Group AG now owns 10,091 shares of the specialty retailer’s stock valued at $108,000 after acquiring an additional 2,373 shares during the last quarter. Royal Bank of Canada raised its stake in Etsy by 30.3% during the 2nd quarter. Royal Bank of Canada now owns 8,812 shares of the specialty retailer’s stock valued at $133,000 after acquiring an additional 2,049 shares during the last quarter. Ameritas Investment Partners Inc. raised its stake in Etsy by 12.0% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 10,160 shares of the specialty retailer’s stock valued at $152,000 after acquiring an additional 1,092 shares during the last quarter. Finally, Marathon Trading Investment Management LLC purchased a new stake in Etsy during the 1st quarter valued at approximately $174,000. 73.04% of the stock is owned by hedge funds and other institutional investors.
Etsy Company Profile
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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