FY2024 Earnings Forecast for Etsy, Inc. Issued By B. Riley (NASDAQ:ETSY)

Etsy, Inc. (NASDAQ:ETSY) – Analysts at B. Riley decreased their FY2024 earnings per share estimates for Etsy in a research report issued on Thursday, May 2nd. B. Riley analyst N. Khan now expects that the specialty retailer will earn $2.80 per share for the year, down from their prior forecast 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 $2.56 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 has been the topic of several other reports. Evercore ISI reduced their price objective on Etsy from $95.00 to $90.00 and set an “outperform” rating on the stock in a research note on Thursday, February 22nd. JMP Securities downgraded shares of Etsy from an “outperform” rating to a “market perform” rating in a research report on Thursday. Citigroup cut their price objective on shares of Etsy from $72.00 to $62.00 and set a “neutral” rating for the company in a research report on Thursday. Wedbush decreased their price target on Etsy from $70.00 to $65.00 and set a “neutral” rating on the stock in a research note on Thursday. Finally, Canaccord Genuity Group dropped their price objective on Etsy from $125.00 to $105.00 and set a “buy” rating for the company in a research note on Thursday. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $79.96.

Etsy Stock Performance

NASDAQ ETSY opened at $59.97 on Friday. The firm has a market cap of $7.02 billion, a price-to-earnings ratio of 27.05, a PEG ratio of 4.89 and a beta of 2.00. The firm has a 50 day simple moving average of $68.05 and a 200-day simple moving average of $71.56. Etsy has a one year low of $56.60 and a one year high of $102.81.

Etsy (NASDAQ:ETSY) last announced its earnings results on Wednesday, May 1st. The specialty retailer reported $0.48 EPS 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 analysts’ expectations of $646.30 million. Etsy had a net margin of 10.75% and a negative return on equity of 68.52%. The business’s revenue was up .8% compared to the same quarter last year. During the same quarter last year, the business earned $0.53 earnings per share.

Institutional Trading of Etsy

Institutional investors and hedge funds have recently bought and sold shares of the company. Capital International Investors grew its position in shares of Etsy by 0.6% during the 4th quarter. Capital International Investors now owns 8,175,260 shares of the specialty retailer’s stock valued at $662,605,000 after buying an additional 45,305 shares during the last quarter. Van ECK Associates Corp boosted its stake in Etsy by 9.2% during the 1st quarter. Van ECK Associates Corp now owns 5,042,610 shares of the specialty retailer’s stock valued at $346,528,000 after purchasing an additional 425,620 shares in the last quarter. Bares Capital Management Inc. raised its position in Etsy by 0.9% in the fourth quarter. Bares Capital Management Inc. now owns 4,080,338 shares of the specialty retailer’s stock worth $330,711,000 after acquiring an additional 36,623 shares in the last quarter. Artisan Partners Limited Partnership boosted its holdings in Etsy by 2.0% during the fourth quarter. Artisan Partners Limited Partnership now owns 1,555,432 shares of the specialty retailer’s stock worth $126,068,000 after buying an additional 30,561 shares in the last quarter. Finally, TD Asset Management Inc increased its stake in Etsy by 260.2% in the 4th quarter. TD Asset Management Inc now owns 1,319,190 shares of the specialty retailer’s stock worth $106,920,000 after purchasing an additional 952,907 shares in the last quarter. Institutional investors and hedge funds own 99.53% of the company’s stock.

Insider Activity

In other Etsy news, insider Nicholas Daniel sold 750 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $66.01, for a total transaction of $49,507.50. Following the completion of the sale, the insider now directly owns 19,682 shares in the company, valued at $1,299,208.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Etsy news, CAO Merilee Buckley sold 1,671 shares of Etsy stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $65.04, for a total transaction of $108,681.84. Following the sale, the chief accounting officer now directly owns 2,827 shares in the company, valued at approximately $183,868.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nicholas Daniel sold 750 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $66.01, for a total transaction of $49,507.50. Following the transaction, the insider now owns 19,682 shares in the company, valued at $1,299,208.82. The disclosure for this sale can be found here. Insiders sold a total of 66,968 shares of company stock valued at $4,836,827 over the last quarter. Company insiders own 2.60% of the company’s stock.

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.