Etsy Inc (ETSY) is Initiated by Citigroup to Buy, Price Target at $14

Etsy Inc (ETSY) was Initiated by Citigroup to “Buy” and the brokerage firm has set the Price Target at $14. Citigroup advised their investors in a research report released on Aug 1, 2016.

Many Wall Street Analysts have commented on Etsy Inc. Maxim Group Initiated Etsy Inc on May 26, 2016 to “Buy”, Price Target of the shares are set at $12.Company shares were Reiterated by RBC Capital Mkts on May 4, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 11 from a previous price target of $10 .Company shares were Reiterated by Wedbush on May 4, 2016 to “Neutral”, Firm has raised the Price Target to $ 10 from a previous price target of $9 .

On the company’s financial health, Etsy Inc reported $0.01 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on May 3, 2016. Analyst had a consensus of $-0.03. The company had revenue of $81.80 million for the quarter, compared to analysts expectations of $75.63 million. The company’s revenue was up 39.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.84 EPS.

Etsy Inc closed down -0.05 points or -0.49% at $10.06 with 9,64,491 shares getting traded on Friday. Post opening the session at $10.12, the shares hit an intraday low of $9.91 and an intraday high of $10.1977 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

In a different news, on Jun 22, 2016, John Allspaw (Chief Technology Officer) sold 206,312 shares at $10.00 per share price. According to the SEC, on May 10, 2016, Frederick R Wilson (director) sold 30,130 shares at $8.23 per share price. On Jan 21, 2016, James Breyer (director) sold 474,193 shares at $6.76 per share price, according to the Form-4 filing with the securities and exchange commission.

Etsy Inc. operates a marketplace where people connect both online and offline to make sell and buy goods. The Company operates at the center of macroeconomic trends in online and mobile commerce employment consumption and manufacturing. Its sellers offer goods in online retail categories including jewelry stationery clothing home goods craft supplies and vintage items. The Company supports a range of artists makers designers and collectors. The Company’s community is made up of entrepreneurs who sell on its platform consumers looking to buy goods in its marketplace manufacturers who help its sellers grow their businesses and its employees who maintain its platform. The Company offers a range of services for its sellers which include promoted listings direct checkout and shipping labels. It also provides a range of tools for its buyers including communication search and discovery and mobile.

Etsy Inc

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