Equities Analysts Set Expectations for Etsy, Inc.’s Q2 2024 Earnings (NASDAQ:ETSY)

Etsy, Inc. (NASDAQ:ETSY) – Equities researchers at B. Riley cut their Q2 2024 earnings per share (EPS) estimates for Etsy in a research note issued to investors on Thursday, May 2nd. B. Riley analyst N. Khan now forecasts that the specialty retailer will earn $0.55 per share for the quarter, down from their previous forecast of $0.69. B. Riley 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 announced its earnings results on Wednesday, May 1st. The specialty retailer reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.01). The firm had revenue of $646.00 million for 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 quarterly revenue was up .8% on a year-over-year basis. During the same period in the prior year, the business earned $0.53 EPS.

A number of other equities research analysts also recently weighed in on the company. Wedbush lowered their target price on Etsy from $70.00 to $65.00 and set a “neutral” rating for the company in a report on Thursday. Deutsche Bank Aktiengesellschaft cut their target price on shares of Etsy from $80.00 to $65.00 and set a “hold” rating on the stock in a research note on Wednesday, April 10th. BTIG Research decreased their price target on shares of Etsy from $87.00 to $78.00 and set a “buy” rating for the company in a research note on Thursday. JMP Securities lowered shares of Etsy from an “outperform” rating to a “market perform” rating in a report on Thursday. Finally, Loop Capital downgraded Etsy from a “hold” rating to a “sell” rating and reduced their target price for the company from $70.00 to $50.00 in a research note on Thursday. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, Etsy has a consensus rating of “Hold” and an average price target of $79.96.

Etsy Trading Up 1.2 %

ETSY stock opened at $59.97 on Monday. Etsy has a 1-year low of $56.60 and a 1-year high of $102.81. The stock has a 50-day moving average price of $67.77 and a 200-day moving average price of $71.55. The firm has a market cap of $7.02 billion, a PE ratio of 27.38, a price-to-earnings-growth ratio of 4.22 and a beta of 2.00.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. CVA Family Office LLC purchased a new stake in Etsy during the fourth quarter valued at about $27,000. Operose Advisors LLC purchased a new stake in shares of Etsy during the 3rd quarter valued at approximately $28,000. Sunbelt Securities Inc. boosted its holdings in Etsy by 3,900.0% in the 1st quarter. Sunbelt Securities Inc. now owns 440 shares of the specialty retailer’s stock worth $30,000 after buying an additional 429 shares during the period. EverSource Wealth Advisors LLC grew its stake in Etsy by 402.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 447 shares of the specialty retailer’s stock valued at $36,000 after buying an additional 358 shares in the last quarter. Finally, Tompkins Financial Corp bought a new stake in Etsy during the 4th quarter valued at $41,000. Hedge funds and other institutional investors own 99.53% of the company’s stock.

Insider Buying and Selling

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

Etsy Company Profile

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.