In a report released today, Rick Patel from Needham assigned a Buy rating to Etsy (ETSY), with a price target of $150.00. The company’s shares closed last Wednesday at $135.52, close to its 52-week high of $136.29.
According to TipRanks.com, Patel is a 1-star analyst with an average return of -0.8% and a 36.7% success rate. Patel covers the Consumer Goods sector, focusing on stocks such as Columbia Sportswear, G-III Apparel Group, and Lululemon Athletica.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Etsy with a $115.13 average price target, implying a -12.7% downside from current levels. In a report issued on July 22, Stifel Nicolaus also maintained a Buy rating on the stock with a $116.00 price target.
See today’s analyst top recommended stocks >>
Based on Etsy’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $228 million and net profit of $12.52 million. In comparison, last year the company earned revenue of $169 million and had a net profit of $31.58 million.
Based on the recent corporate insider activity of 91 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ETSY in relation to earlier this year.
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. Its technology platform allows sellers to manage and scale their business. The firm offers handmade products such as shoes, clothing, bags, and accessories. It operates through the United States and International geographical segments. The company was founded by Haim Schoppik, Robert Kalin, Jared Tarbell, and Christopher Maguires in June 2005 and is headquartered in Brooklyn, NY.
