Etsy Inc (ETSY) was Resumed by Wedbush to “Neutral” according to the research note released today. The brokerage firm has raised the Price Target to $ 15 from a previous price target of $13 . Wedbush advised their investors in a research report released on Oct 13, 2016.
Many Wall Street Analysts have commented on Etsy Inc. Company shares were Reiterated by Citigroup on Oct 7, 2016 to “Buy”, Firm has raised the Price Target to $ 20 from a previous price target of $16 .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.
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 closed down -0.54 points or -3.42% at $15.27 with 15,25,331 shares getting traded on Tuesday. Post opening the session at $15.72, the shares hit an intraday low of $14.95 and an intraday high of $15.81 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.
In a different news, on Oct 11, 2016, Chad Dickerson (President, CEO and Chair) sold 105,289 shares at $16.00 per share price. According to the SEC, on Oct 4, 2016, Kristina Salen (Chief Financial Officer) sold 20,000 shares at $15.00 per share price. On Sep 23, 2016, John Allspaw (Chief Technology Officer) sold 36,532 shares at $15.00 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.