Etsy (NASDAQ:ETSY) Earns Overweight Rating from Analysts at Atlantic Securities

Atlantic Securities assumed coverage on shares of Etsy (NASDAQ:ETSY) in a research report sent to investors on Monday morning, Price Targets.com reports. The firm issued an overweight rating and a $200.00 target price on the specialty retailer’s stock.

ETSY has been the topic of a number of other research reports. Zacks Investment Research downgraded Etsy from a hold rating to a sell rating and set a $218.00 price objective on the stock. in a research report on Wednesday, April 28th. Evercore ISI started coverage on Etsy in a research report on Monday, April 5th. They issued an outperform rating and a $265.00 price objective on the stock. Truist Securities reduced their target price on Etsy from $224.00 to $215.00 in a research note on Thursday, May 6th. Canaccord Genuity increased their target price on Etsy from $215.00 to $270.00 and gave the company a buy rating in a research note on Friday, February 26th. Finally, Stifel Nicolaus raised Etsy from a hold rating to a buy rating and set a $205.00 target price on the stock in a research note on Friday, May 7th. Two research analysts have rated the stock with a sell rating and eighteen have given a buy rating to the company’s stock. Etsy has a consensus rating of Buy and a consensus target price of $218.08.

Shares of ETSY stock opened at $167.15 on Monday. The company has a quick ratio of 4.43, a current ratio of 4.43 and a debt-to-equity ratio of 1.97. Etsy has a 52-week low of $76.62 and a 52-week high of $251.86. The stock has a market capitalization of $21.25 billion, a P/E ratio of 47.35, a PEG ratio of 2.98 and a beta of 1.56. The stock has a fifty day simple moving average of $186.28.

Etsy (NASDAQ:ETSY) last issued its quarterly earnings data on Wednesday, May 5th. The specialty retailer reported $1.00 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.84 by $0.16. Etsy had a return on equity of 73.44% and a net margin of 23.46%. Sell-side analysts predict that Etsy will post 2.92 earnings per share for the current fiscal year.

In related news, insider Goyal Kruti Patel sold 6,800 shares of the firm’s stock in a transaction dated Thursday, April 1st. The stock was sold at an average price of $207.70, for a total value of $1,412,360.00. Following the sale, the insider now directly owns 38,408 shares of the company’s stock, valued at $7,977,341.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Merilee Buckley sold 908 shares of the firm’s stock in a transaction dated Monday, May 3rd. The stock was sold at an average price of $200.41, for a total value of $181,972.28. Following the completion of the sale, the chief accounting officer now directly owns 908 shares in the company, valued at $181,972.28. The disclosure for this sale can be found here. Insiders sold 70,878 shares of company stock worth $14,094,036 over the last three months. 3.30% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the business. KB Financial Partners LLC purchased a new stake in Etsy in the first quarter worth about $69,000. Advisor Partners LLC lifted its holdings in Etsy by 47.2% in the first quarter. Advisor Partners LLC now owns 1,758 shares of the specialty retailer’s stock worth $355,000 after buying an additional 564 shares during the period. Schroder Investment Management Group lifted its holdings in Etsy by 9.1% in the first quarter. Schroder Investment Management Group now owns 44,935 shares of the specialty retailer’s stock worth $9,062,000 after buying an additional 3,733 shares during the period. Kaizen Financial Strategies purchased a new stake in Etsy in the first quarter worth about $645,000. Finally, Gladstone Institutional Advisory LLC purchased a new stake in Etsy in the first quarter worth about $346,000. Institutional investors and hedge funds own 82.65% of the company’s stock.

About Etsy

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 online market places include Etsy.com and Reverb.com. The company offers approximately 85 million items in its various retail categories to buyers.

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Analyst Recommendations for Etsy (NASDAQ:ETSY)

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