KeyBanc Eyes New High for Etsy Shares

ETSY stock has almost tripled year-over-year

Oct 2, 2018 at 10:08 AM
facebook twitter linkedin

While sector peer Stitch Fix (SFIX) sells off after earnings, e-commerce stock Etsy Inc (NASDAQ:ETSY) was again the recipient of bullish analyst attention. The shares this morning saw their price target hiked to $59 from $51 at KeyBanc, though they're still down 1.1% on the day at $49.42.

The majority of analysts covering ETSY are already in the bulls' corner, but there is still room for additional upgrades and/or price-target increases. That's because three of eight brokerage firms still have "hold" or "strong sell" ratings in place, and the average 12-month price target of $51 is in line with the stock's current price.

This is especially true when you consider how well the equity has performed on the charts this year. ETSY stock has almost tripled over the past 12 months, and hit a record high of $53.25 on Sept. 14. Meanwhile, the 50-day moving average has acted as strong support since May.

As such, options activity at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) has been overwhelmingly call-centered. Call buying has almost quadrupled put buying during the past 10 days across these exchanges, and currently, peak call open interest now resides at the March 50 call, though the front-month October 55 call is close behind.


Minimize Risk While Maximizing Profits

There is no options strategy like this one, which consistently minimizes risk while maintaining maximum profits. Perfect for traders looking for ways to control risk, reduce losses, and increase the likelihood of success when trading calls and puts. The Schaeffer’s team has over 41 years of options trading success targeting +100% gains on every trade. Rest assured your losses are effectively limited to your initial cost at the time of making your move! Don't waste another second... join us right now before the next trade is released! 



Special Offers from Schaeffer's Trading Partners