Etsy, Inc. (NASDAQ:ETSY – Get Rating) – Research analysts at Oppenheimer cut their FY2023 earnings estimates for Etsy in a research report issued to clients and investors on Wednesday, June 15th. Oppenheimer analyst J. Helfstein now anticipates that the specialty retailer will post earnings of $7.78 per share for the year, down from their prior estimate of $8.78. Oppenheimer currently has a “Outperform” rating and a $120.00 price target on the stock. The consensus estimate for Etsy’s current full-year earnings is $2.13 per share. Oppenheimer also issued estimates for Etsy’s FY2024 earnings at $9.57 EPS and FY2025 earnings at $11.35 EPS.
Etsy (NASDAQ:ETSY – Get Rating) last released its quarterly earnings results on Wednesday, May 4th. The specialty retailer reported $0.60 EPS for the quarter, beating the consensus estimate of $0.59 by $0.01. Etsy had a net margin of 18.49% and a return on equity of 73.57%. The firm had revenue of $579.30 million during the quarter, compared to the consensus estimate of $574.71 million. During the same quarter in the prior year, the firm earned $1.00 EPS. Etsy’s revenue for the quarter was up 5.2% on a year-over-year basis.
Shares of Etsy stock opened at $72.11 on Monday. The company has a market cap of $9.17 billion, a P/E ratio of 23.96, a PEG ratio of 1.34 and a beta of 1.76. The company has a debt-to-equity ratio of 3.52, a quick ratio of 2.68 and a current ratio of 2.68. Etsy has a one year low of $67.01 and a one year high of $307.75. The firm has a fifty day moving average of $89.82 and a two-hundred day moving average of $138.37.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of Etsy by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 13,703,486 shares of the specialty retailer’s stock worth $1,703,069,000 after buying an additional 118,034 shares in the last quarter. Capital World Investors grew its position in Etsy by 13.4% during the 1st quarter. Capital World Investors now owns 3,457,269 shares of the specialty retailer’s stock worth $429,669,000 after acquiring an additional 409,540 shares during the last quarter. Flossbach Von Storch AG grew its position in Etsy by 6.5% during the 1st quarter. Flossbach Von Storch AG now owns 2,788,570 shares of the specialty retailer’s stock worth $346,563,000 after acquiring an additional 170,402 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of Etsy by 5.2% in the 1st quarter. Principal Financial Group Inc. now owns 2,452,354 shares of the specialty retailer’s stock valued at $304,779,000 after buying an additional 120,910 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Etsy by 4.1% in the 4th quarter. Geode Capital Management LLC now owns 2,416,793 shares of the specialty retailer’s stock valued at $527,854,000 after buying an additional 94,302 shares during the last quarter. Institutional investors and hedge funds own 89.93% of the company’s stock.
In related news, CMO Ryan M. Scott sold 2,323 shares of the business’s stock in a transaction on Tuesday, April 5th. The shares were sold at an average price of $132.60, for a total value of $308,029.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Josh Silverman sold 20,850 shares of the business’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 completion of the sale, the chief executive officer now directly owns 102,707 shares in the company, valued at $7,441,122.15. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 92,525 shares of company stock worth $8,853,475. Corporate insiders own 3.10% of the company’s stock.
Etsy Company Profile (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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