The name Emmy is a girl's name meaning "work; universal". Emmy is ranked #610 on our popularity charts and is often added to lists like Girls' Names That End in Y and discussed in our forums with posts like "Favorite Full name for Nickname".
From the experts:
Long a nickname for all the Em-names, as well as an annual award, Emmy is now being given on its own, as are soundalikes Emme and Emmi. Might be too identified with the TV awards--though that doesn't seem to have hurt Oscar or Tony. We think Emmy is a little too cutesey, and is probably best kept as a nickname for something that ages a little better.