Royal Bank of Canada Raises Etsy (NASDAQ:ETSY) Price Target to $117.00

Etsy (NASDAQ:ETSY) had its price target raised by Royal Bank of Canada from $79.00 to $117.00 in a research report sent to investors on Tuesday, The Fly reports. Royal Bank of Canada currently has an outperform rating on the specialty retailer’s stock.

A number of other brokerages also recently commented on ETSY. Canaccord Genuity boosted their target price on shares of Etsy from $70.00 to $85.00 and gave the stock a buy rating in a research note on Thursday, May 7th. Jefferies Financial Group raised Etsy from a hold rating to a buy rating and raised their target price for the stock from $71.00 to $110.00 in a research report on Wednesday, June 10th. ValuEngine downgraded Etsy from a buy rating to a hold rating in a report on Wednesday, May 6th. DA Davidson cut their price objective on shares of Etsy from $78.00 to $66.00 in a report on Monday, April 6th. Finally, Wedbush upped their target price on shares of Etsy from $75.00 to $88.00 and gave the company an outperform rating in a report on Thursday, May 7th. One analyst has rated the stock with a sell rating, three have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average price target of $84.90.

Etsy stock opened at $101.28 on Tuesday. The firm has a market cap of $11.65 billion, a PE ratio of 166.03, a price-to-earnings-growth ratio of 4.16 and a beta of 1.69. Etsy has a 52-week low of $29.95 and a 52-week high of $103.94. The company has a quick ratio of 5.71, a current ratio of 5.71 and a debt-to-equity ratio of 2.08. The company’s 50 day moving average is $81.86 and its two-hundred day moving average is $57.82.

Etsy (NASDAQ:ETSY) last issued its quarterly earnings results on Wednesday, May 6th. The specialty retailer reported $0.10 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($0.08). Etsy had a return on equity of 18.68% and a net margin of 8.76%. The company had revenue of $228.05 million for the quarter, compared to analysts’ expectations of $219.34 million. During the same quarter last year, the company earned $0.24 EPS. Etsy’s revenue for the quarter was up 34.7% compared to the same quarter last year. On average, equities research analysts anticipate that Etsy will post 1.05 earnings per share for the current fiscal year.

In related news, Director Jonathan D. Klein sold 25,000 shares of the company’s stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $100.00, for a total transaction of $2,500,000.00. Following the transaction, the director now owns 79,613 shares of the company’s stock, valued at $7,961,300. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Goyal Kruti Patel sold 3,399 shares of the stock in a transaction on Tuesday, April 7th. The stock was sold at an average price of $50.00, for a total value of $169,950.00. Following the completion of the transaction, the insider now owns 23,325 shares of the company’s stock, valued at approximately $1,166,250. The disclosure for this sale can be found here. Insiders have sold 308,090 shares of company stock valued at $22,537,118 over the last three months. 3.80% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Bessemer Group Inc. grew its position in Etsy by 201.4% during the first quarter. Bessemer Group Inc. now owns 663 shares of the specialty retailer’s stock worth $25,000 after buying an additional 443 shares during the period. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Etsy in the first quarter valued at $27,000. Sowell Financial Services LLC boosted its position in shares of Etsy by 63.5% in the 4th quarter. Sowell Financial Services LLC now owns 839 shares of the specialty retailer’s stock worth $37,000 after buying an additional 326 shares in the last quarter. Keebeck Wealth Management LLC acquired a new stake in Etsy in the 4th quarter valued at about $53,000. Finally, Valeo Financial Advisors LLC increased its holdings in Etsy by 423.2% during the 1st quarter. Valeo Financial Advisors LLC now owns 1,308 shares of the specialty retailer’s stock valued at $70,000 after acquiring an additional 1,058 shares in the last quarter. Hedge funds and other institutional investors own 97.95% of the company’s stock.

Etsy Company Profile

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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The Fly

Analyst Recommendations for Etsy (NASDAQ:ETSY)

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