Q2 2022 EPS Estimates for Etsy, Inc. Decreased by Analyst (NASDAQ:ETSY)

Etsy, Inc. (NASDAQ:ETSYGet Rating) – Equities researchers at Jefferies Financial Group reduced their Q2 2022 EPS estimates for shares of Etsy in a research note issued on Tuesday, May 31st. Jefferies Financial Group analyst J. Colantuoni now forecasts that the specialty retailer will post earnings of $0.27 per share for the quarter, down from their previous forecast of $0.29. Jefferies Financial Group also issued estimates for Etsy’s Q3 2022 earnings at $0.31 EPS, Q4 2022 earnings at $0.61 EPS, FY2022 earnings at $1.78 EPS, Q2 2023 earnings at $0.50 EPS, Q3 2023 earnings at $0.53 EPS and Q4 2023 earnings at $0.89 EPS.

Etsy (NASDAQ:ETSYGet Rating) last announced its quarterly earnings data on Wednesday, May 4th. The specialty retailer reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.01. Etsy had a return on equity of 73.57% and a net margin of 18.49%. The company had revenue of $579.30 million during the quarter, compared to analyst estimates of $574.71 million. During the same quarter last year, the firm posted $1.00 EPS. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis.

A number of other research firms have also weighed in on ETSY. BTIG Research reduced their target price on Etsy from $195.00 to $140.00 and set a “buy” rating for the company in a report on Monday, May 2nd. JMP Securities reiterated a “mkt outperform” rating and set a $125.00 price target on shares of Etsy in a research report on Wednesday. Deutsche Bank Aktiengesellschaft dropped their price target on Etsy from $120.00 to $100.00 in a research report on Friday, May 6th. Oppenheimer dropped their price target on Etsy from $175.00 to $140.00 in a research report on Thursday, May 5th. Finally, Sanford C. Bernstein started coverage on Etsy in a research report on Monday, May 23rd. They set an “outperform” rating and a $105.00 price target for the company. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $172.10.

ETSY stock opened at $80.94 on Thursday. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 3.52. The firm has a market capitalization of $10.29 billion, a PE ratio of 26.89, a PEG ratio of 1.47 and a beta of 1.76. Etsy has a twelve month low of $68.40 and a twelve month high of $307.75. The stock has a 50-day simple moving average of $102.47 and a two-hundred day simple moving average of $157.26.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Amundi Pioneer Asset Management Inc. purchased a new stake in shares of Etsy during the first quarter worth about $1,681,000. First Republic Investment Management Inc. grew its position in shares of Etsy by 6.7% during the third quarter. First Republic Investment Management Inc. now owns 6,693 shares of the specialty retailer’s stock worth $1,392,000 after purchasing an additional 419 shares in the last quarter. Oppenheimer & Co. Inc. grew its position in shares of Etsy by 19.2% during the third quarter. Oppenheimer & Co. Inc. now owns 3,139 shares of the specialty retailer’s stock worth $653,000 after purchasing an additional 506 shares in the last quarter. Assetmark Inc. purchased a new stake in shares of Etsy during the third quarter worth about $89,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in Etsy by 0.4% during the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 23,470 shares of the specialty retailer’s stock valued at $4,881,000 after buying an additional 89 shares in the last quarter. Institutional investors and hedge funds own 89.93% of the company’s stock.

In other news, CEO Josh Silverman sold 20,850 shares of the stock in a transaction on Wednesday, April 13th. The stock was sold at an average price of $116.54, for a total value of $2,429,859.00. Following the sale, the chief executive officer now directly owns 102,707 shares of the company’s stock, valued at $11,969,473.78. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Merilee Buckley sold 655 shares of the company’s stock in a transaction on Tuesday, April 5th. The shares were sold at an average price of $132.54, for a total value of $86,813.70. Following the transaction, the chief accounting officer now directly owns 171 shares in the company, valued at $22,664.34. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 92,525 shares of company stock worth $8,853,475. 3.10% of the stock is owned by insiders.

About Etsy (Get Rating)

Etsy, Inc operates two-sided online marketplaces that connect buyers and sellers primarily in the United States, the United Kingdom, Germany, Canada, Australia, France, and India. Its primary marketplace is Etsy.com that connects artisans and entrepreneurs with various consumers. The company also offers Reverb, a musical instrument marketplace; Depop, a fashion resale marketplace; and Elo7, a Brazil-based marketplace for handmade and unique items.

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