Etsy Inc (ETSY) is Upgraded by Monness Crespi & Hardt to Buy, Price Target at $17

Etsy Inc (ETSY) was Upgraded by Monness Crespi & Hardt to ” Buy” and the brokerage firm has set the Price Target at $17. Earlier the firm had a rating of “Neutral ” on the company shares. Monness Crespi & Hardt advised their investors in a research report released on Sep 21, 2016.

Many Wall Street Analysts have commented on Etsy Inc. Loop Capital Initiated Etsy Inc on Sep 14, 2016 to “Hold”, Price Target of the shares are set at $14.Company shares were Reiterated by Maxim Group on Aug 3, 2016 to “Buy”, Firm has raised the Price Target to $ 15 from a previous price target of $12 .Company shares were Reiterated by Wedbush on Aug 3, 2016 to “Neutral”, Firm has raised the Price Target to $ 13 from a previous price target of $10 .

On the company’s financial health, Etsy Inc reported $-0.06 EPS for the quarter, missing the analyst consensus estimate by $ -0.04 based on the information available during the earnings call on Aug 2, 2016. Analyst had a consensus of $-0.02. The company had revenue of $85.30 million for the quarter, compared to analysts expectations of $80.55 million. The company’s revenue was up 38.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.07 EPS.

Etsy Inc opened for trading at $13.48 and hit $13.76 on the upside on Tuesday, eventually ending the session at $13.51, with a gain of 1.12% or 0.15 points. The heightened volatility saw the trading volume jump to 10,72,735 shares. Company has a market cap of $1,537 M.

In a different news, on Aug 9, 2016, Frederick R Wilson (director) sold 216,399 shares at $13.60 per share price. According to the SEC, on Aug 9, 2016, Jordan J Breslow (General Counsel and Secretary) sold 1,868 shares at $13.59 per share price. On Aug 4, 2016, John Allspaw (Chief Technology Officer) sold 63,468 shares at $12.50 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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