Stifel Nicolaus Releases a Hold Rating on Etsy (ETSY)
In a report released yesterday, Scott Devitt from Stifel Nicolaus assigned a Hold rating to Etsy (ETSY), with a price target of $220.00. The company’s shares closed last Friday at $220.30, close to its 52-week high of $239.47.
According to TipRanks.com, Devitt is a top 100 analyst with an average return of 35.1% and a 70.5% success rate. Devitt covers the Technology sector, focusing on stocks such as Jumia Technologies AG, Uber Technologies, and Alphabet Class A.
Etsy has an analyst consensus of Strong Buy, with a price target consensus of $232.93.
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Based on Etsy’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $451 million and net profit of $91.76 million. In comparison, last year the company earned revenue of $198 million and had a net profit of $14.8 million.
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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.