Oppenheimer analyst Jason Helfstein maintained a Hold rating on Etsy Inc (ETSY) today. The company’s shares closed yesterday at $68.08, close to its 52-week high of $73.35.
Helfstein said:
“While ETSY delivered strong 1Q results and provided FY guidance in line with the Street, we view this as already reflected in the stock at 7.3x sales. 1Q GMS/revenue was in line with Opco/Street, while EBITDA 11%/19% was above Opco/Street on marketing pullback. Management raised the low-end of FY guidance, but this is already reflected in Street estimates. Investors will focus on marketing to drive return/ new customers and benefits of big data migration to improve conversion. Stock likely to be range-bound unless revenue growth accelerates, in our view. Maintain Perform.”
According to TipRanks.com, Helfstein is a top 100 analyst with an average return of 19.7% and a 67.4% success rate. Helfstein covers the Technology sector, focusing on stocks such as Endurance International, ANGI Homeservices Inc, and Spotify Technology SA.
Currently, the analyst consensus on Etsy Inc is a Moderate Buy with an average price target of $73, which is a 7.2% upside from current levels. In a report released yesterday, Stifel Nicolaus also maintained a Hold rating on the stock with a $62 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.
