Morgan Stanley Raises Etsy, Inc. (NASDAQ:ETSY) Price Target to $13.50

Etsy, Inc. (NASDAQ:ETSY) had its price objective hoisted by stock analysts at Morgan Stanley from $9.50 to $13.50 in a report issued on Thursday. The firm currently has an “equal weight” rating on the specialty retailer’s stock. Morgan Stanley’s price target indicates a potential downside of 6.90% from the company’s previous close.

Other research analysts have also issued research reports about the company. Maxim Group reissued a “buy” rating and set a $17.00 price objective on shares of Etsy in a report on Tuesday, April 25th. Loop Capital reissued a “buy” rating and set a $16.00 price objective on shares of Etsy in a report on Wednesday, March 22nd. Zacks Investment Research raised Etsy from a “hold” rating to a “buy” rating and set a $17.00 price objective on the stock in a report on Tuesday, July 4th. TheStreet raised Etsy from a “d” rating to a “c-” rating in a report on Wednesday, May 24th. Finally, Stifel Nicolaus reissued a “hold” rating and set a $13.00 price objective (down previously from $14.00) on shares of Etsy in a report on Wednesday, May 3rd. Ten research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Etsy has a consensus rating of “Hold” and an average target price of $13.73.

Etsy (ETSY) traded down 0.68% during trading on Thursday, reaching $14.50. The company had a trading volume of 805,060 shares. The stock has a 50 day moving average of $14.35 and a 200-day moving average of $12.32. Etsy has a 12 month low of $9.41 and a 12 month high of $16.05. The company’s market capitalization is $1.61 billion.

Etsy (NASDAQ:ETSY) last issued its quarterly earnings data on Tuesday, May 2nd. The specialty retailer reported $0.00 EPS for the quarter, missing the Zacks’ consensus estimate of $0.05 by $0.05. The company had revenue of $96.89 million for the quarter, compared to analyst estimates of $98.64 million. Etsy had a negative net margin of 8.29% and a negative return on equity of 2.01%. Equities research analysts expect that Etsy will post $0.03 EPS for the current fiscal year.

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Hedge funds have recently made changes to their positions in the company. BNP Paribas Arbitrage SA increased its stake in shares of Etsy by 263.8% in the first quarter. BNP Paribas Arbitrage SA now owns 27,160 shares of the specialty retailer’s stock worth $289,000 after buying an additional 19,694 shares in the last quarter. Algert Global LLC purchased a new stake in shares of Etsy during the first quarter worth approximately $301,000. Wells Fargo & Company MN increased its stake in shares of Etsy by 70.6% in the first quarter. Wells Fargo & Company MN now owns 1,533,634 shares of the specialty retailer’s stock worth $16,303,000 after buying an additional 634,855 shares in the last quarter. Punch & Associates Investment Management Inc. increased its stake in shares of Etsy by 2.2% in the first quarter. Punch & Associates Investment Management Inc. now owns 404,290 shares of the specialty retailer’s stock worth $4,298,000 after buying an additional 8,805 shares in the last quarter. Finally, New Jersey Better Educational Savings Trust purchased a new stake in shares of Etsy during the first quarter worth approximately $366,000. Institutional investors own 69.57% of the company’s stock.

Etsy Company Profile

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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