RBC Capital Raises Price Target on Etsy (ETSY) Following 3Q Report

November 2, 2016 7:39 AM EDT
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Price: $12.41 -1.51%

Rating Summary:
    5 Buy, 7 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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RBC Capital reiterated a Sector Perform rating on Etsy (NASDAQ: ETSY), and raised the price target to $15.00 (from $13.00), following the company's 3Q earnings report. Etsy reported revenues of $87.6MM, which was above the Street estimates of $86.8MM. Management re-iterated its long-term guidance.

Analyst Andrew Bruckner commented, "Etsy posted a solid Q3, particularly lower down the income statement, and raised its near-term guidance. We are increasing our estimates and PT to $15. Maintain Sector Perform."

For an analyst ratings summary and ratings history on Etsy click here. For more ratings news on Etsy click here.

Shares of Etsy closed at $12.95 yesterday.

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