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Etsy Inc (ETSY) Receives a Buy from D.A. Davidson


D.A. Davidson analyst Tom Forte maintained a Buy rating on Etsy Inc (NASDAQ: ETSY) today and set a price target of $59. The company’s shares opened today at $51.08, close to its 52-week high of $51.71.

According to TipRanks.com, Forte is a 5-star analyst with an average return of 12.5% and a 56.7% success rate. Forte covers the Services sector, focusing on stocks such as Overstockcom, Groupon Inc, and Amazon.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Etsy Inc with a $48.29 average price target.

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Based on Etsy Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $3.38 million. In comparison, last year the company had a net profit of $11.65 million.

Based on the recent corporate insider activity of 27 insiders, corporate insider sentiment is negative on the stock. Last month, Michele Burns, a Director at ETSY sold 15,000 shares for a total of $695,250.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Etsy, Inc. engages in the management of an online marketplace. It operates a technology platform which allows sellers to manage and scale their business. It offers handmade products such as shoes, clothing, bags, and accessories. It operates through the United States and International geographical segments.