Etsy (ETSY) Coverage Initiated at Citigroup

Citigroup initiated coverage on shares of Etsy (NASDAQ:ETSY) in a research report released on Friday morning, Marketbeat.com reports. The brokerage issued a buy rating and a $70.00 target price on the specialty retailer’s stock.

A number of other analysts have also recently issued reports on ETSY. Zacks Investment Research cut shares of Etsy from a buy rating to a hold rating in a research note on Thursday, August 9th. Wedbush restated a neutral rating and set a $50.00 target price on shares of Etsy in a research report on Thursday, September 13th. Loop Capital upped their target price on shares of Etsy to $65.00 and gave the stock a buy rating in a research report on Friday, September 14th. DA Davidson restated a buy rating and set a $59.00 target price (up previously from $53.00) on shares of Etsy in a research report on Friday, September 14th. Finally, BidaskClub lowered shares of Etsy from a strong-buy rating to a buy rating in a research report on Saturday, September 22nd. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Etsy has an average rating of Buy and an average target price of $50.38.

Shares of NASDAQ ETSY traded down $1.58 during midday trading on Friday, reaching $53.92. The stock had a trading volume of 2,126,934 shares, compared to its average volume of 2,542,752. The company has a debt-to-equity ratio of 0.85, a current ratio of 5.49 and a quick ratio of 5.49. The stock has a market cap of $6.69 billion, a PE ratio of 141.89, a price-to-earnings-growth ratio of 6.27 and a beta of 0.68. Etsy has a 12-month low of $16.72 and a 12-month high of $58.30.

Etsy (NASDAQ:ETSY) last announced its quarterly earnings data on Tuesday, November 6th. The specialty retailer reported $0.15 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.09. The firm had revenue of $150.37 million during the quarter, compared to analysts’ expectations of $149.76 million. Etsy had a net margin of 15.00% and a return on equity of 14.10%. The company’s revenue for the quarter was up 41.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.21 earnings per share. On average, research analysts expect that Etsy will post 0.59 EPS for the current year.

In related news, Director Jonathan D. Klein sold 35,900 shares of the company’s stock in a transaction on Tuesday, November 13th. The shares were sold at an average price of $51.12, for a total transaction of $1,835,208.00. Following the completion of the transaction, the director now owns 165,165 shares in the company, valued at $8,443,234.80. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.80% of the stock is currently owned by corporate insiders.

Several large investors have recently modified their holdings of the stock. Sei Investments Co. lifted its position in Etsy by 16.7% during the second quarter. Sei Investments Co. now owns 52,631 shares of the specialty retailer’s stock valued at $2,220,000 after purchasing an additional 7,547 shares during the last quarter. Canada Pension Plan Investment Board lifted its position in Etsy by 48.1% during the second quarter. Canada Pension Plan Investment Board now owns 344,800 shares of the specialty retailer’s stock valued at $14,547,000 after purchasing an additional 112,000 shares during the last quarter. Dupont Capital Management Corp bought a new position in Etsy during the second quarter valued at $672,000. Great West Life Assurance Co. Can lifted its position in Etsy by 29.4% during the second quarter. Great West Life Assurance Co. Can now owns 10,965 shares of the specialty retailer’s stock valued at $463,000 after purchasing an additional 2,492 shares during the last quarter. Finally, Calamos Advisors LLC bought a new position in Etsy during the third quarter valued at $309,000. Hedge funds and other institutional investors own 89.86% of the company’s stock.

About Etsy

Etsy, Inc operates Etsy.com, a commerce platform to make, sell, and buy goods online and offline primarily in the United States, United Kingdom, Canada, Australia, France, and Germany. It provides various seller services and tools that are designed to help entrepreneurs for starting, managing, and scaling their businesses.

See Also: Retained Earnings

Analyst Recommendations for Etsy (NASDAQ:ETSY)

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