Morgan Stanley analyst Nathan Feather maintained a Sell rating on Etsy (ETSY – Research Report) yesterday and set a price target of $52.00. The company’s shares closed yesterday at $59.24.
Feather covers the Consumer Cyclical sector, focusing on stocks such as Etsy, eBay, and Chewy. According to TipRanks, Feather has an average return of -2.2% and a 33.33% success rate on recommended stocks.
In addition to Morgan Stanley, Etsy also received a Sell from Wells Fargo’s Ken Gawrelski in a report issued yesterday. However, on the same day, JMP Securities assigned a Hold rating to Etsy (NASDAQ: ETSY).
Based on Etsy’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $628.88 million and a net profit of $61.92 million. In comparison, last year the company earned a revenue of $585.14 million and had a net profit of $73.12 million
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Etsy (ETSY) Company Description:
Etsy, Inc. is an online marketplace for buyers and sellers, and operates in the United States, Canada, the United Kingdom, France, Germany and Australia. It mainly focuses on handmade or vintage items and craft supplies that include unique jewelry, on-trend clothing, bags, toys, art, home decor and furniture. In addition, the company offers several services to sellers including payment processing, advertising platform and shipping services.
