Stifel Nicolaus analyst Scott Devitt maintained a Hold rating on Etsy Inc (ETSY) yesterday and set a price target of $62. The company’s shares closed yesterday at $68.08, close to its 52-week high of $73.35.
Devitt commented:
“We believe shares reflect the strong outlook trading at 8.0x EV/FY:2020E revenue and we remain Hold-rated with a $62.”
According to TipRanks.com, Devitt is a top 100 analyst with an average return of 21.9% and a 71.0% success rate. Devitt covers the Technology sector, focusing on stocks such as Jumia Technologies AG, Lyft Inc Class A, and Eventbrite Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Etsy Inc with a $73 average price target.
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Etsy Inc’s market cap is currently $8.15B and has a P/E ratio of 112.16. The company has a Price to Book ratio of 20.34.
Based on the recent corporate insider activity of 46 insiders, corporate insider sentiment is negative on the stock. Most recently, in March 2019, Michele Burns, a Director at ETSY sold 10,000 shares for a total of $713,500.
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Etsy, Inc. engages in the management of an online marketplace. It operates a technology platform which allows sellers to manage and scale their business. The company offers handmade products such as shoes, clothing, bags, and accessories. It operates through the United States and International geographical segments.
