What’s Going on With These Four Surging Stocks?

Dover Corp (NYSE:DOV) has gained 8% so far today on the back of third quarter EPS of $1.14 and revenue of $1.8 billion. The company managed to beat the Street’s EPS consensus estimate of $1.07, but fell short of revenue expectations of $1.81 billion. A total of 26 funds from our database held long positions in Dover Corp (NYSE:DOV), representing 5.40% of the float at the end of June, including Ric Dillon‘s Diamond Hill Capital and Jeffrey Gates’ Gates Capital Management, which reported stakes of 2.83 million shares and 2.63 million shares respectively.

Finally, Etsy Inc (NASDAQ:ETSY)‘s shares advanced after an analyst issued an update on the stock, in which it stated that, following its devaluation over the last several months, the stock currently better reflects the company’s risks. Wedbush Securities upgraded the stock to ‘Neutral’ from ‘Underperform’, and has a $9.00 price target on it, which is still below the current price of the stock. Nevertheless, the stock still has an average price target among analysts of over $16 per share, which indicates upside of more than 40%.

Etsy Inc (NASDAQ:ETSY) went public in April and has lost over 60% since then amid growing concerns regarding its business model and news related to the sale of mass manufactured and counterfeit products on its website. Amazon.com, Inc. (NASDAQ:AMZN) recently announced entering into the handmade goods segment as well, which will most likely put more pressure on Etsy Inc (NASDAQ:ETSY), though Wedbush said in its research note that the company will “maintain its revenue growth trajectory” in the third quarter. Despite a lot of noise around its IPO, Etsy Inc (NASDAQ:ETSY) did not manage to capture the attention of hedge funds as only nine funds among those we track reported stakes in the company as of the end of June, equal to around 10% of its outstanding float. Among the funds that were bullish on the company was Chase Coleman’s Tiger Global Management, which initiated a 10 million-share position.

Disclosure: None