Today’s big question for investors is, “what’s going on with Etsy, Inc. (NASDAQ:ETSY) stock? Its price is jumping 1.26 points, trading at $56.47 levels, and is up 2.28% from its previous close of $55.21. The shares seem to have an active trading volume day with a reported 541944 contracts so far this session. ETSY shares had a relatively better volume day versus average trading capacity of 3.24 million shares, but with a 0.12 billion float and a -0.16% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for ETSY stock indicates that the average analyst price target is $76.64 per share. This means the stock has a potential increase of 35.72% from where the ETSY share price has been trading recently which is between $54.6 and $55.94.
During the recent trading session for Etsy, Inc. (NASDAQ:ETSY), the company witnessed their stock rise $2.49 over a week and surge $3.73 from the price 20 days ago. When compared to their established 52-week high of $73.35, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 04/03/19. The recent low of $38.02 stood for a -23.01% since 10/29/18, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 1.01 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Etsy, Inc., the two-week RSI stands at 52.76. This figure suggests that ETSY stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current ETSY readings is similarly very revealing as it has a stochastic reading of 34.43% at this stage. This figure means that ETSY share price today is being neutral.
Technical chart claims that Etsy, Inc. (ETSY) would settle between $55.9/share to $56.59/share level. However, if the stock price goes below the $54.56 mark, then the market for Etsy, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $53.91 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.25. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Nomura, assumed coverage of ETSY assigning Buy rating, according to their opinion released on October 04. RBC Capital Mkts analysts bumped their rating on Etsy, Inc. (NASDAQ:ETSY) stock from Sector Perform to Outperform in a separate flash note issued to investors on September 20. Analysts at Wedbush released an upgrade from Neutral to Outperform for the stock, in a research note that dated back to September 13.
ETSY equity has an average rating of 2.2, with the figure leaning towards a bullish end. 14 analysts who tracked the company were contacted by Reuters. Amongst them, 1 rated the stock as a hold while the remaining 13 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 13 analysts rated Etsy, Inc. (NASDAQ:ETSY) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, ETSY stock price is currently trading at 55.94X forward 12-month Consensus EPS estimates, and its P/E ratio is 64.2 while for the average stock in the same group, the multiple is 44.3. Etsy, Inc. current P/B ratio of 14.8 means it is trading at a premium against its industry’s 9.2.
Etsy, Inc. (ETSY)’s current-quarter revenues are projected to climb by nearly 28.7% to hit $193530, based on current consensus estimate. The firm’s full-year revenues are expected to expand by over 33.5% from $603690 to a noteworthy $805750. At the other end of the current quarter income statement, Etsy, Inc. is expected to see its adjusted earnings surge by roughly -20% to hit $0.12 per share. For the fiscal year, ETSY’s earnings are projected to climb by roughly 16.4% to hit $0.71 per share.