Etsy (NASDAQ:ETSY) Research Coverage Started at KeyCorp

KeyCorp initiated coverage on shares of Etsy (NASDAQ:ETSY) in a research note released on Wednesday, December 20th, MarketBeat reports. The brokerage issued an overweight rating on the specialty retailer’s stock.

Several other equities analysts also recently commented on the stock. BidaskClub raised shares of Etsy from a hold rating to a buy rating in a report on Saturday, December 9th. Zacks Investment Research downgraded shares of Etsy from a buy rating to a hold rating in a report on Monday, November 13th. Ifs Securities reissued an outperform rating and issued a $22.00 target price (up previously from $18.00) on shares of Etsy in a report on Tuesday, November 7th. Royal Bank of Canada boosted their target price on shares of Etsy from $16.00 to $18.00 and gave the stock a sector perform rating in a report on Tuesday, November 7th. Finally, Stifel Nicolaus restated a hold rating and issued a $18.00 price target (up previously from $15.00) on shares of Etsy in a research report on Tuesday, November 7th. Ten investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Etsy has a consensus rating of Hold and a consensus target price of $15.92.

Etsy (ETSY) opened at $20.56 on Wednesday. Etsy has a 1-year low of $9.41 and a 1-year high of $21.86. The company has a debt-to-equity ratio of 0.19, a current ratio of 4.26 and a quick ratio of 4.26. The company has a market cap of $2,500.00 and a price-to-earnings ratio of 171.33.

Etsy declared that its board has authorized a share buyback plan on Friday, November 17th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the specialty retailer to buy shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

In other Etsy news, Director Frederick R. Wilson sold 87,938 shares of the business’s stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $16.24, for a total transaction of $1,428,113.12. Following the transaction, the director now owns 822,062 shares in the company, valued at $13,350,286.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 4.00% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. Janus Henderson Group PLC bought a new position in shares of Etsy in the second quarter worth about $95,291,000. TPG Group Holdings SBS Advisors Inc. grew its holdings in shares of Etsy by 2,287.5% in the second quarter. TPG Group Holdings SBS Advisors Inc. now owns 5,003,888 shares of the specialty retailer’s stock worth $75,058,000 after purchasing an additional 4,794,297 shares during the last quarter. Southpoint Capital Advisors LP bought a new position in shares of Etsy in the second quarter worth about $16,650,000. Prudential Financial Inc. bought a new position in shares of Etsy in the third quarter worth about $13,091,000. Finally, Pictet Asset Management Ltd. bought a new position in shares of Etsy in the third quarter worth about $11,541,000. Institutional investors and hedge funds own 74.40% of the company’s stock.

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About Etsy

Etsy, Inc (Etsy) operates a marketplace where people around the world connect, both online and offline, to make, sell and buy goods. The Company offers a range of seller services and tools that help entrepreneurs start, grow and manage their businesses. The Company’s community includes Etsy sellers, Etsy buyers, Etsy employees, its partners and investors.

Analyst Recommendations for Etsy (NASDAQ:ETSY)

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