Etsy (NYSE:ETSY) Upgraded by Citigroup to “Strong-Buy” Rating

Citigroup upgraded shares of Etsy (NYSE:ETSY) from a hold rating to a strong-buy rating in a report published on Tuesday morning,Zacks.com reports.

Other equities research analysts have also recently issued research reports about the company. BNP Paribas upgraded Etsy to a “hold” rating in a research note on Monday, November 24th. Evercore ISI downgraded Etsy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 30th. Wall Street Zen raised shares of Etsy from a “hold” rating to a “buy” rating in a research note on Friday, November 28th. Zacks Research downgraded shares of Etsy from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 10th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Etsy in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Etsy has an average rating of “Hold”.

Etsy Trading Down 2.2%

Etsy stock opened at $55.32 on Tuesday. Etsy has a 52-week low of $40.05 and a 52-week high of $76.51. The company has a market cap of $5.46 billion, a price-to-earnings ratio of 38.96, a price-to-earnings-growth ratio of 7.23 and a beta of 1.76.

Etsy Company Profile

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 primary marketplace is Etsy.com that connects artisans and entrepreneurs with various consumers. The company also offers Reverb, a musical instrument marketplace; Depop, a fashion resale marketplace; and Elo7, a Brazil-based marketplace for handmade and unique items. In addition, it offers various seller services, including Etsy Payments, a payment processing service; Etsy Ads, an advertising platform; and Shipping Labels, which allows sellers in the United States, Canada, the United Kingdom, Australia, and India to purchase discounted shipping labels.