Etsy, Inc. (NASDAQ:ETSY) Expected to Post Q1 2023 Earnings of $0.51 Per Share

Etsy, Inc. (NASDAQ:ETSYGet Rating) – Analysts at Jefferies Financial Group decreased their Q1 2023 earnings per share estimates for shares of Etsy in a research report issued on Tuesday, May 31st. Jefferies Financial Group analyst J. Colantuoni now expects that the specialty retailer will earn $0.51 per share for the quarter, down from their previous forecast of $0.90. Jefferies Financial Group also issued estimates for Etsy’s FY2023 earnings at $2.42 EPS, FY2024 earnings at $3.34 EPS and FY2025 earnings at $4.36 EPS.

A number of other equities research analysts also recently issued reports on ETSY. TheStreet downgraded shares of Etsy from a “b-” rating to a “c+” rating in a research report on Friday, February 4th. Wedbush reduced their price objective on shares of Etsy from $185.00 to $124.00 in a research report on Thursday, May 5th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Etsy from $120.00 to $100.00 in a research report on Friday, May 6th. DA Davidson reduced their price objective on shares of Etsy from $275.00 to $185.00 in a research report on Thursday, May 5th. Finally, StockNews.com downgraded shares of Etsy from a “hold” rating to a “sell” rating in a research report on Tuesday, April 19th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, Etsy presently has a consensus rating of “Buy” and an average price target of $172.10.

ETSY opened at $87.29 on Friday. The company has a debt-to-equity ratio of 3.52, a current ratio of 2.68 and a quick ratio of 2.68. Etsy has a fifty-two week low of $68.40 and a fifty-two week high of $307.75. The firm has a market capitalization of $11.10 billion, a PE ratio of 29.00, a P/E/G ratio of 1.48 and a beta of 1.76. The company’s 50-day moving average is $101.39 and its 200 day moving average is $155.98.

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

In other news, CEO Josh Silverman sold 20,850 shares of the firm’s stock in a transaction on Wednesday, May 25th. The shares were sold at an average price of $72.45, for a total transaction of $1,510,582.50. Following the sale, the chief executive officer now owns 102,707 shares in the company, valued at approximately $7,441,122.15. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CMO Ryan M. Scott sold 6,147 shares of the firm’s stock in a transaction on Friday, April 1st. The shares were sold at an average price of $126.11, for a total transaction of $775,198.17. The disclosure for this sale can be found here. Insiders sold a total of 92,525 shares of company stock worth $8,853,475 over the last quarter. Corporate insiders own 3.10% of the company’s stock.

Large investors have recently modified their holdings of the stock. CVA Family Office LLC purchased a new position in Etsy in the 4th quarter worth $26,000. Future Financial Wealth Managment LLC bought a new stake in Etsy in the 4th quarter worth $26,000. Covestor Ltd bought a new stake in Etsy in the 4th quarter worth $29,000. Quent Capital LLC bought a new stake in Etsy in the 4th quarter worth $30,000. Finally, Ahrens Investment Partners LLC bought a new stake in Etsy in the 4th quarter worth $33,000. Institutional investors own 89.93% of the company’s stock.

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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Earnings History and Estimates for Etsy (NASDAQ:ETSY)

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