Q2 2024 EPS Estimates for Etsy, Inc. Decreased by Analyst (NASDAQ:ETSY)

Etsy, Inc. (NASDAQ:ETSY) – Research analysts at B. Riley cut their Q2 2024 earnings estimates for Etsy in a research report issued to clients and investors on Thursday, May 2nd. B. Riley analyst N. Khan now anticipates that the specialty retailer will post earnings of $0.55 per share for the quarter, down from their prior estimate of $0.69. B. Riley currently has a “Buy” rating and a $83.00 price target on the stock. The consensus estimate for Etsy’s current full-year earnings is $2.57 per share. B. Riley also issued estimates for Etsy’s Q3 2024 earnings at $0.75 EPS and Q4 2024 earnings at $1.12 EPS.

Etsy (NASDAQ:ETSY) last issued 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). Etsy had a negative return on equity of 67.27% and a net margin of 10.75%. The firm had revenue of $646.00 million during the quarter, compared to analysts’ expectations of $646.30 million. During the same quarter in the prior year, the firm earned $0.53 EPS. The firm’s revenue was up .8% compared to the same quarter last year.

ETSY has been the subject of a number of other research reports. The Goldman Sachs Group decreased their price target on shares of Etsy from $80.00 to $70.00 and set a “neutral” rating for the company in a research note on Thursday, May 2nd. Guggenheim reduced their price objective on shares of Etsy from $95.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. Wells Fargo & Company reduced their price objective on shares of Etsy from $60.00 to $58.00 and set an “underweight” rating for the company in a research report on Thursday, May 2nd. Barclays reduced their price objective on shares of Etsy from $67.00 to $60.00 and set an “equal weight” rating for the company in a research report on Thursday, May 2nd. Finally, Needham & Company LLC reduced their price objective on shares of Etsy from $95.00 to $75.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $79.96.

Etsy Stock Up 4.2 %

Shares of Etsy stock opened at $62.46 on Monday. Etsy has a 52-week low of $56.60 and a 52-week high of $102.81. The company has a 50 day moving average of $67.58 and a 200 day moving average of $71.53. The company has a market capitalization of $7.30 billion, a P/E ratio of 28.52, a P/E/G ratio of 4.73 and a beta of 2.00.

Insider Transactions at Etsy

In other Etsy news, CAO Merilee Buckley sold 1,671 shares of the stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $65.04, for a total value of $108,681.84. Following the completion of the transaction, the chief accounting officer now owns 2,827 shares in the company, valued at $183,868.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CAO Merilee Buckley sold 1,671 shares of the business’s stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $65.04, for a total transaction of $108,681.84. Following the sale, the chief accounting officer now owns 2,827 shares of the company’s stock, valued at $183,868.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Nicholas Daniel sold 1,500 shares of the stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $71.82, for a total transaction of $107,730.00. Following the completion of the transaction, the insider now directly owns 13,138 shares of the company’s stock, valued at $943,571.16. The disclosure for this sale can be found here. In the last three months, insiders sold 66,968 shares of company stock valued at $4,836,827. Corporate insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Etsy

Several hedge funds and other institutional investors have recently bought and sold shares of ETSY. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Etsy by 23.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 309,333 shares of the specialty retailer’s stock worth $19,977,000 after buying an additional 57,785 shares in the last quarter. Northern Trust Corp boosted its position in shares of Etsy by 4.3% in the 3rd quarter. Northern Trust Corp now owns 1,194,153 shares of the specialty retailer’s stock worth $77,118,000 after buying an additional 48,934 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Etsy in the 4th quarter worth about $2,273,000. International Assets Investment Management LLC purchased a new stake in shares of Etsy in the 4th quarter worth about $38,490,000. Finally, CVA Family Office LLC purchased a new stake in shares of Etsy in the 4th quarter worth about $27,000. 99.53% of the stock is owned by institutional investors and hedge funds.

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.