Q1 2023 EPS Estimates for Etsy, Inc. (NASDAQ:ETSY) Cut by Jefferies Financial Group

Etsy, Inc. (NASDAQ:ETSY – Get Rating) – Investment analysts at Jefferies Financial Group decreased their Q1 2023 earnings per share estimates for shares of Etsy in a research report issued on Thursday, March 9th. Jefferies Financial Group analyst J. Colantuoni now forecasts that the specialty retailer will post earnings per share of $0.50 for the quarter, down from their previous forecast of $0.96. Jefferies Financial Group currently has a “Underperform” rating and a $85.00 target price on the stock. The consensus estimate for Etsy’s current full-year earnings is $2.81 per share. Jefferies Financial Group also issued estimates for Etsy’s Q2 2023 earnings at $0.49 EPS, Q3 2023 earnings at $0.56 EPS, Q4 2023 earnings at $1.03 EPS, FY2023 earnings at $2.58 EPS, FY2024 earnings at $2.95 EPS and FY2025 earnings at $3.44 EPS.

Several other analysts also recently commented on the company. TheStreet upgraded Etsy from a “d” rating to a “c-” rating in a research note on Wednesday, February 22nd. Wolfe Research reiterated a “peer perform” rating on shares of Etsy in a research note on Thursday, February 23rd. BTIG Research lifted their price target on Etsy from $119.00 to $137.00 in a research note on Thursday, December 1st. DA Davidson lifted their price target on Etsy from $121.00 to $161.00 and gave the company a “buy” rating in a research note on Thursday, February 23rd. Finally, Piper Sandler lifted their price target on Etsy from $105.00 to $135.00 and gave the company a “neutral” rating in a research note on Thursday, February 23rd. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $130.67.

Etsy Stock Performance

Shares of ETSY opened at $105.98 on Monday. The company has a debt-to-equity ratio of 4.10, a current ratio of 2.40 and a quick ratio of 2.40. The stock has a 50-day moving average of $129.30 and a 200-day moving average of $117.93. The company has a market cap of $13.21 billion, a PE ratio of -18.46, a P/E/G ratio of 5.08 and a beta of 1.99. Etsy has a one year low of $67.01 and a one year high of $151.50.

Etsy (NASDAQ:ETSY – Get Rating) last issued its earnings results on Wednesday, February 22nd. The specialty retailer reported $0.77 EPS for the quarter, missing the consensus estimate of $0.82 by ($0.05). The firm had revenue of $807.20 million during the quarter, compared to analyst estimates of $752.12 million. Etsy had a negative net margin of 27.06% and a positive return on equity of 1,306.41%. The business’s quarterly revenue was up 12.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.11 earnings per share.

Insider Buying and Selling

In related news, CMO Ryan M. Scott sold 1,170 shares of Etsy stock in a transaction that occurred on Wednesday, January 4th. The shares were sold at an average price of $116.98, for a total value of $136,866.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CFO Rachel C. Glaser sold 19,822 shares of Etsy stock in a transaction that occurred on Friday, February 24th. The shares were sold at an average price of $125.54, for a total value of $2,488,453.88. Following the completion of the transaction, the chief financial officer now directly owns 49,143 shares in the company, valued at approximately $6,169,412.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CMO Ryan M. Scott sold 1,170 shares of Etsy stock in a transaction that occurred on Wednesday, January 4th. The shares were sold at an average price of $116.98, for a total transaction of $136,866.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 84,542 shares of company stock valued at $10,731,872. 3.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Evoke Wealth LLC grew its stake in Etsy by 304.6% in the 3rd quarter. Evoke Wealth LLC now owns 530 shares of the specialty retailer’s stock valued at $53,000 after buying an additional 399 shares in the last quarter. Householder Group Estate & Retirement Specialist LLC purchased a new position in shares of Etsy during the 3rd quarter valued at $34,000. Apollon Wealth Management LLC grew its position in shares of Etsy by 8.3% during the 3rd quarter. Apollon Wealth Management LLC now owns 3,534 shares of the specialty retailer’s stock valued at $354,000 after purchasing an additional 272 shares in the last quarter. Rovin Capital UT ADV grew its position in shares of Etsy by 12.5% during the 3rd quarter. Rovin Capital UT ADV now owns 5,414 shares of the specialty retailer’s stock valued at $542,000 after purchasing an additional 602 shares in the last quarter. Finally, Bessemer Group Inc. grew its position in shares of Etsy by 12.4% during the 3rd quarter. Bessemer Group Inc. now owns 6,429 shares of the specialty retailer’s stock valued at $644,000 after purchasing an additional 711 shares in the last quarter. 95.46% of the stock is currently owned by hedge funds and other institutional investors.

About Etsy

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Etsy, Inc engages in the operation of online marketplace. It offers handmade products such as shoes, clothing, bags, and accessories. It operates through the following segments. Etsy, Reverb, Depop, and Elo7. The company was founded by Haim Schoppik, Robert Kalin, Jared Tarbell, and Christopher Maguires in 2005 and is headquartered in New York, NY.