Etsy (ETSY) Stock Rating Upgraded by BidaskClub

Etsy (NASDAQ:ETSY) was upgraded by BidaskClub from a “buy” rating to a “strong-buy” rating in a report released on Friday.

A number of other equities analysts have also issued reports on the stock. DA Davidson initiated coverage on shares of Etsy in a research report on Wednesday, September 6th. They set a “buy” rating and a $18.00 target price on the stock. Zacks Investment Research upgraded shares of Etsy from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a research report on Friday, September 15th. Royal Bank of Canada restated a “sector perform” rating and set a $18.00 target price (up from $16.00) on shares of Etsy in a research report on Thursday, November 2nd. Piper Jaffray Companies restated a “neutral” rating and set a $14.50 target price on shares of Etsy in a research report on Wednesday, October 4th. Finally, Ifs Securities restated an “outperform” rating and set a $18.00 target price on shares of Etsy in a research report on Thursday, August 24th. Eleven research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Etsy presently has an average rating of “Hold” and a consensus target price of $15.69.

Etsy (NASDAQ ETSY) opened at $21.69 on Friday. The company has a current ratio of 4.26, a quick ratio of 4.26 and a debt-to-equity ratio of 0.19. The stock has a market cap of $2,648.50, a P/E ratio of 180.75, a PEG ratio of 3.35 and a beta of 1.15. Etsy has a 1 year low of $9.41 and a 1 year high of $21.86.

Etsy announced that its Board of Directors has authorized a stock buyback program on Friday, November 17th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the specialty retailer to repurchase shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s board of directors believes its shares are undervalued.

In related news, Director Frederick R. Wilson sold 87,938 shares of the stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $16.24, for a total transaction of $1,428,113.12. Following the completion of the sale, the director now directly owns 822,062 shares of the company’s stock, valued at $13,350,286.88. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 4.00% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Ameritas Investment Partners Inc. lifted its holdings in Etsy by 12.0% in the second 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 period. Principal Financial Group Inc. lifted its holdings in Etsy by 9.0% in the second quarter. Principal Financial Group Inc. now owns 16,099 shares of the specialty retailer’s stock valued at $241,000 after acquiring an additional 1,330 shares during the period. Amalgamated Bank lifted its holdings in Etsy by 14.9% in the second quarter. Amalgamated Bank now owns 14,788 shares of the specialty retailer’s stock valued at $222,000 after acquiring an additional 1,920 shares during the period. Royal Bank of Canada lifted its holdings in Etsy by 30.3% in the second 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 period. Finally, California Public Employees Retirement System lifted its holdings in Etsy by 0.9% in the third quarter. California Public Employees Retirement System now owns 385,600 shares of the specialty retailer’s stock valued at $6,509,000 after acquiring an additional 3,400 shares during the period. 74.40% of the stock is owned by hedge funds and other institutional investors.

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About Etsy

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.

Analyst Recommendations for Etsy (NASDAQ:ETSY)

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