Stifel Nicolaus analyst Scott Devitt maintained a Buy rating on Etsy (ETSY) yesterday and set a price target of $70.00. The company’s shares closed last Monday at $53.18.
According to TipRanks.com, Devitt is a top 100 analyst with an average return of 20.3% and a 68.1% success rate. Devitt covers the Technology sector, focusing on stocks such as Uber Technologies, Mercadolibre, and Facebook.
Etsy has an analyst consensus of Moderate Buy, with a price target consensus of $56.14, implying a 4.4% upside from current levels. In a report issued on February 18, Roth Capital also maintained a Buy rating on the stock with a $59.00 price target.
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Based on Etsy’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $14.8 million. In comparison, last year the company had a net profit of $41.23 million.
Based on the recent corporate insider activity of 53 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying 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. 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.
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