Etsy (ETSY) Gets a Buy Rating from Needham

By Jason Carr

In a report released today, Anna Andreeva from Needham assigned a Buy rating to Etsy (ETSYResearch Report), with a price target of $250.00. The company’s shares closed last Friday at $183.51.

According to TipRanks.com, Andreeva is a 4-star analyst with an average return of 5.9% and a 48.3% success rate. Andreeva covers the Consumer Goods sector, focusing on stocks such as Overstock, RealReal, and thredUP.

Etsy has an analyst consensus of Strong Buy, with a price target consensus of $221.33, a 16.1% upside from current levels. In a report issued on July 27, Roth Capital also maintained a Buy rating on the stock with a $245.00 price target.

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Based on Etsy’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $551 million and net profit of $144 million. In comparison, last year the company earned revenue of $228 million and had a net profit of $12.52 million.

Based on the recent corporate insider activity of 122 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. Most recently, in June 2021, Frederick Wilson, a Director at ETSY bought 7,302 shares for a total of $597,742.

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. 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.