By Christiana Sciaudone
Investing.com -- Etsy (NASDAQ:ETSY) rose 5% to a record after Needham reiterated its buy rating and boosted its price target to a Street high.
Needham analyst Rick Patel set a price target of $130, up from $88, and said he expects Etsy to post earnings per share of 11 cents for the third quarter.
The current consensus among 16 TipRanks analysts is for a strong buy rating, with an average price target of $106.75. The analysts price targets range from a high of $130 to a low of $65.
The stock has 13 buy ratings, two holds and one sell, according to data compiled by Investing.com. Etsy is expected to report $327 million in quarterly earnings on Wednesday, with EPS of 39 cents.
In its most recent earnings report in March, the company reported quarterly revenue of $228 million and a net profit of $25 million.