Etsy (ETSY) Coverage Initiated at Citigroup

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Citigroup began coverage on shares of Etsy (NASDAQ:ETSY) in a report issued on Friday, The Fly reports. The firm set a “buy” rating on the specialty retailer’s stock.

Several other research analysts have also recently weighed in on the company. BidaskClub upgraded Etsy from a “hold” rating to a “buy” rating in a research note on Friday. TheStreet upgraded Etsy from a “c+” rating to a “b” rating in a research note on Monday, November 19th. BTIG Research began coverage on Etsy in a research note on Tuesday, November 13th. They issued a “buy” rating and a $59.00 price target for the company. Royal Bank of Canada boosted their price target on Etsy from $45.00 to $52.00 and gave the stock a “sector perform” rating in a research note on Wednesday, November 7th. Finally, Loop Capital set a $57.00 price target on Etsy and gave the stock a “buy” rating in a research note on Tuesday, November 6th. 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 stock. The stock presently has a consensus rating of “Buy” and an average target price of $46.96.

Shares of NASDAQ:ETSY opened at $55.50 on Friday. The firm has a market cap of $6.61 billion, a price-to-earnings ratio of 146.05, a P/E/G ratio of 6.20 and a beta of 0.68. Etsy has a 12-month low of $16.72 and a 12-month high of $58.30. The company has a debt-to-equity ratio of 0.85, a current ratio of 5.49 and a quick ratio of 5.49.

Etsy (NASDAQ:ETSY) last posted its quarterly earnings results on Tuesday, November 6th. The specialty retailer reported $0.15 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.09. Etsy had a return on equity of 14.10% and a net margin of 15.00%. The firm had revenue of $150.37 million during the quarter, compared to analysts’ expectations of $149.76 million. During the same quarter in the previous year, the business earned $0.21 earnings per share. The company’s revenue was up 41.4% on a year-over-year basis. As a group, research analysts anticipate that Etsy will post 0.59 EPS for the current year.

In related news, Director Jonathan D. Klein sold 35,900 shares of Etsy stock in a transaction on Tuesday, November 13th. The stock was sold at an average price of $51.12, for a total value of $1,835,208.00. Following the completion of the sale, the director now owns 165,165 shares of the company’s stock, valued at $8,443,234.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.80% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the stock. American International Group Inc. grew its holdings in shares of Etsy by 1.8% in the third quarter. American International Group Inc. now owns 79,285 shares of the specialty retailer’s stock worth $4,074,000 after acquiring an additional 1,429 shares during the period. Los Angeles Capital Management & Equity Research Inc. grew its holdings in shares of Etsy by 3.2% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 49,160 shares of the specialty retailer’s stock worth $2,074,000 after acquiring an additional 1,530 shares during the period. LPL Financial LLC grew its holdings in shares of Etsy by 6.4% in the third quarter. LPL Financial LLC now owns 37,844 shares of the specialty retailer’s stock worth $1,944,000 after acquiring an additional 2,261 shares during the period. Mount Yale Investment Advisors LLC bought a new stake in shares of Etsy in the second quarter worth $102,000. Finally, Great West Life Assurance Co. Can grew its holdings in shares of Etsy by 29.4% in the second quarter. Great West Life Assurance Co. Can now owns 10,965 shares of the specialty retailer’s stock worth $463,000 after acquiring an additional 2,492 shares during the period. 89.86% of the stock is owned by institutional investors.

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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