Needham Issues a Buy Rating on Etsy (ETSY)
In a report released today, Rick Patel from Needham assigned a Buy rating to Etsy (ETSY), with a price target of $235.00. The company’s shares closed last Thursday at $197.58.
According to TipRanks.com, Patel is a 4-star analyst with an average return of 21.9% and a 47.7% success rate. Patel covers the Consumer Goods sector, focusing on stocks such as Lululemon Athletica, Columbia Sportswear, and Capri Holdings.
Currently, the analyst consensus on Etsy is a Strong Buy with an average price target of $240.00, implying a 17.0% upside from current levels. In a report issued on February 24, Jefferies also maintained a Buy rating on the stock with a $245.00 price target.
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Etsy’s market cap is currently $24.91B and has a P/E ratio of 117.10. The company has a Price to Book ratio of 78.67.
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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.