Why Etsy Stock Soared by More Than 8% Today

Investors on Friday decided that they had found a bargain in shares of online arts and crafts marketplace Etsy (NASDAQ: ETSY) -- and they swooped in to snap them up, bidding the stock up by 8.1% as of 11:08 a.m. ET.

You can probably credit a couple of Wall Street analysts for some of that renewed optimism.

Analysts from two Wall Street firms have commented positively on Etsy over the past three days. First, Raymond James upgraded the stock to "outperform" on Wednesday, and put a $100 target price on the shares. Then on Friday, Evercore ISI cut its price target, but to a similar level of $95 -- more than 20% higher than where Etsy stock was trading late Friday morning.

Source Fool.com