Citigroup Initiates Coverage on Etsy Inc to Buy

Citigroup Initiates Coverage on Etsy Inc(NASDAQ:ETSY). The shares have been rated Buy. The rating by Citigroup was issued on Aug 1, 2016.

In a different note, Maxim Group said it Initiates Coverage on Etsy Inc, according to a research note issued on May 26, 2016. The shares have been rated ‘Buy’ by the firm.

Etsy Inc (ETSY) shares turned negative on Mondays trading session with the shares closing down -0.08 points or -0.58% at a volume of 16,85,348. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $13.9. The peak price level was also seen at $13.9 while the days lowest was $13.45. Finally the shares closed at $13.69. The 52-week high of the shares is $18.57 while the 52-week low is $6.04. According to the latest information available, the market cap of the company is $1,557 M.

Etsy Inc(ETSY) last announced its earnings results on May 3, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $81.85M. Analysts had an estimated revenue of $75.15M. Earnings per share were $0.01. Analysts had estimated an EPS of $-0.03.

Several Insider Transactions has been reported to the SEC. On Jun 22, 2016, John Allspaw (Chief Technology Officer) sold 206,312 shares at $10.00 per share price.Also, On May 10, 2016, Frederick R Wilson (director) sold 30,130 shares at $8.23 per share price.On Jan 21, 2016, James Breyer (director) sold 474,193 shares at $6.76 per share price, according to the Form-4 filing with the securities and exchange commission.

Etsy Inc. operates a marketplace where people connect both online and offline to make sell and buy goods. The Company operates at the center of macroeconomic trends in online and mobile commerce employment consumption and manufacturing. Its sellers offer goods in online retail categories including jewelry stationery clothing home goods craft supplies and vintage items. The Company supports a range of artists makers designers and collectors. The Company’s community is made up of entrepreneurs who sell on its platform consumers looking to buy goods in its marketplace manufacturers who help its sellers grow their businesses and its employees who maintain its platform. The Company offers a range of services for its sellers which include promoted listings direct checkout and shipping labels. It also provides a range of tools for its buyers including communication search and discovery and mobile.

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