Zacks Investment Research Downgrades Etsy (NASDAQ:ETSY) to Hold

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Zacks Investment Research downgraded shares of Etsy (NASDAQ:ETSY) from a buy rating to a hold rating in a research report report published on Tuesday, Zacks.com reports.

According to Zacks, “Etsy, Inc. offers e-commerce services. It provides online and offline marketplaces to buy and sell goods. The company’s product include art, home and living, mobile accessories, jewelry, wedding, and others. It operates primarily in Berlin, Germany, Dublin, Ireland, Hudson, New York, London, United Kingdom, Melbourne, Australia, Paris, France, San Francisco, California and Toronto, Canada. Etsy, Inc. is headquartered in Brooklyn, New York. “

A number of other brokerages have also recently weighed in on ETSY. CIBC reiterated a buy rating and issued a $13.00 price objective on shares of BlackBerry in a research note on Friday, March 29th. ValuEngine upgraded VESTAS WIND SYS/ADR from a hold rating to a buy rating in a research note on Thursday, May 9th. TheStreet cut WESCO International from a b- rating to a c+ rating in a research note on Friday, May 24th. Oppenheimer started coverage on Etsy in a research note on Friday, March 29th. They issued a market perform rating for the company. Finally, Roth Capital boosted their price objective on Etsy from $72.00 to $76.00 and gave the company a buy rating in a research note on Wednesday, May 1st. Nine investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Etsy presently has an average rating of Buy and a consensus target price of $70.25.

ETSY stock traded up $0.64 during trading on Tuesday, hitting $65.84. 10,104 shares of the company’s stock were exchanged, compared to its average volume of 2,759,792. The firm’s 50-day moving average price is $64.46. The firm has a market capitalization of $7.89 billion, a PE ratio of 107.93, a price-to-earnings-growth ratio of 4.16 and a beta of 0.92. Etsy has a 52-week low of $38.02 and a 52-week high of $73.35. The company has a debt-to-equity ratio of 0.81, a current ratio of 4.87 and a quick ratio of 4.87.

Etsy (NASDAQ:ETSY) last issued its quarterly earnings data on Wednesday, May 8th. The specialty retailer reported $0.24 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.10. Etsy had a return on equity of 24.24% and a net margin of 14.74%. The company had revenue of $169.33 million during the quarter, compared to analysts’ expectations of $170.72 million. During the same quarter in the previous year, the business earned $0.10 earnings per share. The firm’s revenue for the quarter was up 40.0% on a year-over-year basis. On average, equities research analysts predict that Etsy will post 0.79 EPS for the current year.

In other Etsy news, CTO Michael T. Fisher sold 5,209 shares of the company’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $61.31, for a total transaction of $319,363.79. Following the completion of the sale, the chief technology officer now directly owns 32,435 shares in the company, valued at $1,988,589.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Michael T. Fisher sold 5,208 shares of the company’s stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $63.37, for a total value of $330,030.96. Following the sale, the chief technology officer now owns 22,580 shares of the company’s stock, valued at $1,430,894.60. The disclosure for this sale can be found here. Insiders sold 85,656 shares of company stock worth $5,691,884 in the last three months. 3.00% of the stock is owned by corporate insiders.

Large investors have recently made changes to their positions in the business. Quadrant Capital Group LLC acquired a new stake in shares of Etsy in the first quarter valued at about $30,000. Institutional & Family Asset Management LLC grew its stake in shares of Etsy by 267.7% in the first quarter. Institutional & Family Asset Management LLC now owns 467 shares of the specialty retailer’s stock valued at $31,000 after buying an additional 340 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Etsy by 13.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,260 shares of the specialty retailer’s stock valued at $108,000 after buying an additional 268 shares in the last quarter. First Quadrant L P CA grew its stake in shares of Etsy by 82.3% in the first quarter. First Quadrant L P CA now owns 1,730 shares of the specialty retailer’s stock valued at $116,000 after buying an additional 781 shares in the last quarter. Finally, Rehmann Capital Advisory Group grew its stake in shares of Etsy by 2,408.7% in the first quarter. Rehmann Capital Advisory Group now owns 1,731 shares of the specialty retailer’s stock valued at $116,000 after buying an additional 1,662 shares in the last quarter. Institutional investors own 95.58% 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.

Further Reading: Price to Earnings Ratio (PE)

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