Etsy Stock Draws Out Bull Notes on Quarterly Win

The security is, once again, looking to conquer the $100 level

Digital Content Manager
Jul 28, 2022 at 9:28 AM
facebook X logo linkedin


Etsy Inc (NASDAQ:ETSY) yesterday evening reported second-quarter earnings of 51 cents per share -- much higher than analysts' estimates of 31 cents per share --  in addition to a revenue beat. As a result, the equity has attracted no less than five subsequent price-target hikes, including one from Jefferies to $125 from $115.

Analysts are mostly optimistic towards Etsy stock, with 12 of the 20 in question rating it a "buy" or better. Shorts have started to hit the exits, too, with short interest down 7.5% in the most recent period. However, the 16.11 million shares sold short still account for 12.8% of ETSY's available float.

Last seen up 6.8% to trade at $101.98, the security is, once again, attempting to conquer the $100 level after its bounce off a June 16, two-year low of $67.01 lost steam near that region last week. ETSY is also eyeing recent pressure at the 100-day moving average, though year-to-date shares remain down 56.4%.

A shift in the options pits could keep recent tailwinds blowing for the security. This is per ETSY's Schaeffer's put/call open interest ratio (SOIR) of 1.89, which is higher than 98% of annual readings, suggesting these short-term options traders have rarely been more put-biased.

It's also worth noting the equity's Schaeffer's Volatility Scorecard (SVS) sits at a 88 out of 100. This means ETSY has exceeded option traders' volatility expectations over the past year -- a good thing for options buyers.

 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI