Etsy Inc (ETSY) is Reiterated by Citigroup to Buy, Raises Price Target to $ 20

Etsy Inc (ETSY) was Reiterated by Citigroup to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 20 from a previous price target of $16 . Citigroup advised their investors in a research report released on Oct 7, 2016.

Many Wall Street Analysts have commented on Etsy Inc. Company shares were Reiterated by Maxim Group on Sep 26, 2016 to “Buy”, Firm has raised the Price Target to $ 17 from a previous price target of $15 .Monness Crespi & Hardt Upgraded Etsy Inc on Sep 21, 2016 to ” Buy”, Price Target of the shares are set at $17.Loop Capital Initiated Etsy Inc on Sep 14, 2016 to “Hold”, Price Target of the shares are set at $14.

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 $15.47 and hit $16.05 on the upside on Friday, eventually ending the session at $15.48, with a gain of 2.31% or 0.35 points. The heightened volatility saw the trading volume jump to 35,13,071 shares. Company has a market cap of $1,761 M.

In a different news, on Oct 4, 2016, Kristina Salen (Chief Financial Officer) sold 20,000 shares at $15.00 per share price. According to the SEC, on Sep 23, 2016, John Allspaw (Chief Technology Officer) sold 36,532 shares at $15.00 per share price. On Aug 9, 2016, Frederick R Wilson (director) sold 216,399 shares at $13.60 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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