FY2024 EPS Estimates for Etsy, Inc. Decreased by B. Riley (NASDAQ:ETSY)

Etsy, Inc. (NASDAQ:ETSY) – Analysts at B. Riley dropped their FY2024 earnings per share estimates for Etsy in a research note issued to investors on Thursday, May 2nd. B. Riley analyst N. Khan now anticipates that the specialty retailer will post earnings of $2.80 per share for the year, down from their previous estimate of $3.10. B. Riley has a “Buy” rating and a $83.00 price objective on the stock. The consensus estimate for Etsy’s current full-year earnings is $2.55 per share. B. Riley also issued estimates for Etsy’s FY2025 earnings at $3.53 EPS, FY2026 earnings at $4.31 EPS, FY2027 earnings at $5.19 EPS and FY2028 earnings at $6.11 EPS.

Etsy (NASDAQ:ETSY) last announced its quarterly earnings results on Wednesday, May 1st. The specialty retailer reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.01). The firm had revenue of $646.00 million during the quarter, compared to the consensus estimate of $646.30 million. Etsy had a negative return on equity of 67.27% and a net margin of 10.75%. Etsy’s revenue was up .8% on a year-over-year basis. During the same period last year, the business earned $0.53 EPS.

Other equities analysts have also recently issued reports about the company. UBS Group reduced their target price on Etsy from $75.00 to $72.00 and set a “neutral” rating on the stock in a research note on Thursday, February 22nd. Canaccord Genuity Group dropped their target price on shares of Etsy from $125.00 to $105.00 and set a “buy” rating for the company in a research report on Thursday. Evercore ISI decreased their price target on shares of Etsy from $95.00 to $90.00 and set an “outperform” rating for the company in a research note on Thursday, February 22nd. Truist Financial cut their price objective on Etsy from $85.00 to $75.00 and set a “buy” rating on the stock in a research report on Thursday. Finally, Loop Capital cut Etsy from a “hold” rating to a “sell” rating and lowered their target price for the company from $70.00 to $50.00 in a research note on Thursday. Four analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, Etsy presently has an average rating of “Hold” and an average price target of $79.96.

Etsy Price Performance

Shares of NASDAQ:ETSY opened at $59.97 on Friday. Etsy has a 1 year low of $56.60 and a 1 year high of $102.81. The stock’s 50-day moving average is $67.77 and its 200 day moving average is $71.53. The company has a market cap of $7.02 billion, a PE ratio of 27.38, a P/E/G ratio of 4.16 and a beta of 2.00.

Institutional Investors Weigh In On Etsy

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Geneva Capital Management LLC increased its position in Etsy by 2.8% in the first quarter. Geneva Capital Management LLC now owns 69,965 shares of the specialty retailer’s stock worth $4,808,000 after buying an additional 1,934 shares in the last quarter. DAVENPORT & Co LLC raised its stake in Etsy by 120.7% during the 1st quarter. DAVENPORT & Co LLC now owns 789,917 shares of the specialty retailer’s stock worth $54,021,000 after acquiring an additional 431,993 shares during the period. Larson Financial Group LLC lifted its holdings in Etsy by 1,576.5% during the first quarter. Larson Financial Group LLC now owns 570 shares of the specialty retailer’s stock valued at $39,000 after purchasing an additional 536 shares in the last quarter. Rehmann Capital Advisory Group boosted its position in shares of Etsy by 30.3% in the first quarter. Rehmann Capital Advisory Group now owns 5,005 shares of the specialty retailer’s stock worth $344,000 after purchasing an additional 1,165 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S increased its stake in shares of Etsy by 79.3% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 7,059 shares of the specialty retailer’s stock worth $485,000 after purchasing an additional 3,122 shares in the last quarter. 99.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Nicholas Daniel sold 1,500 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $71.82, for a total transaction of $107,730.00. Following the transaction, the insider now directly owns 13,138 shares of the company’s stock, valued at approximately $943,571.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Etsy news, insider Nicholas Daniel sold 1,500 shares of the business’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $71.82, for a total transaction of $107,730.00. Following the completion of the sale, the insider now directly owns 13,138 shares in the company, valued at approximately $943,571.16. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Josh Silverman sold 63,047 shares of the stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $72.50, for a total transaction of $4,570,907.50. Following the completion of the transaction, the chief executive officer now owns 23,140 shares in the company, valued at approximately $1,677,650. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 66,968 shares of company stock worth $4,836,827. 2.60% of the stock is owned by insiders.

About Etsy

Etsy, Inc, together with its subsidiaries, operates two-sided online marketplaces that connect buyers and sellers in the United States, the United Kingdom, Germany, Canada, Australia, and France. 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.