Citigroup Upgrades Etsy (NYSE:ETSY) to Strong-Buy

Etsy (NYSE:ETSY) was upgraded by Citigroup from a “hold” rating to a “strong-buy” rating in a report released on Tuesday,Zacks.com reports.

A number of other research analysts also recently issued reports on the company. Wall Street Zen upgraded Etsy from a “hold” rating to a “buy” rating in a report on Friday, November 28th. Weiss Ratings restated a “hold (c)” rating on shares of Etsy in a report on Monday. Zacks Research cut Etsy from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 10th. BNP Paribas upgraded shares of Etsy to a “hold” rating in a report on Monday, November 24th. Finally, Evercore ISI lowered Etsy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold”.

Etsy Stock Performance

Etsy stock opened at $55.41 on Tuesday. Etsy has a 1-year low of $40.05 and a 1-year high of $76.51. The company has a market cap of $5.47 billion, a P/E ratio of 39.02, a PEG ratio of 7.08 and a beta of 1.76.

About Etsy

Etsy, Inc operates two-sided online marketplaces that connect buyers and sellers primarily in the United States, the United Kingdom, Germany, Canada, Australia, France, and India. Its primary marketplace is Etsy.com that connects artisans and entrepreneurs with various consumers. The company also offers Reverb, a musical instrument marketplace; Depop, a fashion resale marketplace; and Elo7, a Brazil-based marketplace for handmade and unique items. In addition, it offers various seller services, including Etsy Payments, a payment processing service; Etsy Ads, an advertising platform; and Shipping Labels, which allows sellers in the United States, Canada, the United Kingdom, Australia, and India to purchase discounted shipping labels.