Etsy (NASDAQ:ETSY) Downgraded to “Strong Sell” at BidaskClub

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Etsy (NASDAQ:ETSY) was downgraded by equities researchers at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued to investors on Tuesday, BidAskClub reports.

Several other analysts have also recently issued reports on ETSY. BTIG Research raised shares of Etsy from a “neutral” rating to a “buy” rating and set a $79.00 price objective for the company in a research note on Thursday, July 25th. Stifel Nicolaus raised shares of Etsy from a “hold” rating to a “buy” rating and set a $70.00 price objective for the company in a research note on Wednesday, August 21st. KeyCorp set a $90.00 target price on shares of Etsy and gave the company a “buy” rating in a report on Friday, August 2nd. Needham & Company LLC initiated coverage on shares of Etsy in a report on Monday, July 1st. They set a “buy” rating and a $75.00 target price on the stock. Finally, ValuEngine lowered shares of Etsy from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $73.13.

Shares of NASDAQ ETSY traded up $1.89 during trading on Tuesday, hitting $54.56. 132,298 shares of the company traded hands, compared to its average volume of 2,656,630. Etsy has a 1 year low of $38.02 and a 1 year high of $73.35. The company has a 50-day moving average price of $56.43 and a 200-day moving average price of $63.46. The firm has a market capitalization of $6.08 billion, a P/E ratio of 89.56, a P/E/G ratio of 3.10 and a beta of 1.01. The company has a quick ratio of 4.47, a current ratio of 4.47 and a debt-to-equity ratio of 0.77.

Etsy (NASDAQ:ETSY) last announced its quarterly earnings data on Thursday, August 1st. The specialty retailer reported $0.14 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.14. Etsy had a net margin of 15.83% and a return on equity of 26.77%. The company had revenue of $181.10 million during the quarter, compared to analysts’ expectations of $183.28 million. During the same period in the previous year, the company earned $0.07 EPS. The business’s quarterly revenue was up 36.8% compared to the same quarter last year. Research analysts predict that Etsy will post 0.79 EPS for the current fiscal year.

In related news, CTO Michael T. Fisher sold 5,208 shares of Etsy stock in a transaction on Friday, July 5th. The shares were sold at an average price of $63.37, for a total transaction of $330,030.96. Following the transaction, the chief technology officer now owns 22,580 shares in the company, valued at approximately $1,430,894.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Goyal Kruti Patel sold 4,505 shares of Etsy stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $61.80, for a total transaction of $278,409.00. Following the transaction, the senior vice president now owns 16,389 shares in the company, valued at approximately $1,012,840.20. The disclosure for this sale can be found here. Insiders have sold a total of 33,572 shares of company stock worth $1,987,881 in the last 90 days. Company insiders own 3.00% of the company’s stock.

A number of hedge funds have recently modified their holdings of the business. Cambridge Investment Research Advisors Inc. lifted its holdings in Etsy by 1.0% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 15,462 shares of the specialty retailer’s stock worth $1,039,000 after buying an additional 147 shares in the last quarter. Aperio Group LLC lifted its holdings in Etsy by 0.4% in the 2nd quarter. Aperio Group LLC now owns 41,990 shares of the specialty retailer’s stock worth $2,577,000 after buying an additional 175 shares in the last quarter. Freestone Capital Holdings LLC acquired a new position in Etsy in the 1st quarter worth $13,445,000. Keybank National Association OH increased its position in shares of Etsy by 2.1% in the 2nd quarter. Keybank National Association OH now owns 11,069 shares of the specialty retailer’s stock worth $679,000 after purchasing an additional 232 shares during the last quarter. Finally, We Are One Seven LLC grew its position in shares of Etsy by 1.7% during the 2nd quarter. We Are One Seven LLC now owns 13,652 shares of the specialty retailer’s stock valued at $837,000 after buying an additional 234 shares during the last quarter. Hedge funds and other institutional investors own 93.43% 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.

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Analyst Recommendations for Etsy (NASDAQ:ETSY)

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