What is Wedbush’s Forecast for Etsy Q3 Earnings?

Etsy, Inc. (NASDAQ:ETSY) – Equities researchers at Wedbush issued their Q3 2024 EPS estimates for Etsy in a research report issued on Monday, October 21st. Wedbush analyst S. Devitt forecasts that the specialty retailer will post earnings of $0.51 per share for the quarter. Wedbush has a “Hold” rating on the stock. The consensus estimate for Etsy’s current full-year earnings is $2.38 per share. Wedbush also issued estimates for Etsy’s Q4 2024 earnings at $0.91 EPS, FY2024 earnings at $2.28 EPS, Q1 2025 earnings at $0.52 EPS, Q2 2025 earnings at $0.53 EPS, Q3 2025 earnings at $0.59 EPS, Q4 2025 earnings at $1.00 EPS, FY2025 earnings at $2.63 EPS and FY2026 earnings at $2.94 EPS.

A number of other brokerages have also recently commented on ETSY. Bank of America reduced their target price on shares of Etsy from $61.00 to $58.00 and set a “neutral” rating for the company in a report on Thursday. Wolfe Research began coverage on shares of Etsy in a report on Tuesday, July 16th. They set a “peer perform” rating for the company. Stifel Nicolaus cut their price target on shares of Etsy from $65.00 to $64.00 and set a “hold” rating for the company in a report on Thursday, August 1st. Piper Sandler reissued a “neutral” rating and set a $56.00 price target on shares of Etsy in a report on Friday, August 23rd. Finally, Wells Fargo & Company cut their price target on shares of Etsy from $58.00 to $47.00 and set an “underweight” rating for the company in a report on Thursday, October 3rd. Four analysts have rated the stock with a sell rating, twelve have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Etsy presently has an average rating of “Hold” and an average price target of $66.83.

Etsy Stock Performance

Shares of NASDAQ:ETSY opened at $48.63 on Thursday. The company has a 50-day simple moving average of $53.20 and a 200-day simple moving average of $58.90. Etsy has a one year low of $48.07 and a one year high of $89.58. The stock has a market capitalization of $5.69 billion, a price-to-earnings ratio of 22.21, a PEG ratio of 4.99 and a beta of 1.97.

Etsy (NASDAQ:ETSY) last announced its earnings results on Wednesday, July 31st. The specialty retailer reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.05). Etsy had a net margin of 10.36% and a negative return on equity of 51.94%. The business had revenue of $647.80 million during the quarter, compared to analysts’ expectations of $629.87 million. During the same period in the previous year, the company posted $0.83 earnings per share. Etsy’s quarterly revenue was up 3.0% on a year-over-year basis.

Insider Activity

In other news, insider Toni Thompson Nadal sold 1,443 shares of the stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $51.11, for a total value of $73,751.73. Following the sale, the insider now directly owns 592 shares in the company, valued at $30,257.12. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Nicholas Daniel sold 750 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $59.74, for a total value of $44,805.00. Following the sale, the insider now directly owns 18,833 shares in the company, valued at $1,125,083.42. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Toni Thompson Nadal sold 1,443 shares of the stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $51.11, for a total transaction of $73,751.73. Following the completion of the sale, the insider now owns 592 shares in the company, valued at $30,257.12. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,619 shares of company stock worth $300,670 over the last ninety days. 2.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Etsy

Several institutional investors and hedge funds have recently modified their holdings of the company. State of Alaska Department of Revenue lifted its stake in shares of Etsy by 404.3% during the third quarter. State of Alaska Department of Revenue now owns 65,483 shares of the specialty retailer’s stock valued at $3,636,000 after buying an additional 52,497 shares during the period. Bristlecone Advisors LLC lifted its stake in shares of Etsy by 34.2% during the third quarter. Bristlecone Advisors LLC now owns 8,119 shares of the specialty retailer’s stock valued at $451,000 after buying an additional 2,067 shares during the period. Louisiana State Employees Retirement System lifted its stake in shares of Etsy by 740.9% during the third quarter. Louisiana State Employees Retirement System now owns 55,500 shares of the specialty retailer’s stock valued at $3,082,000 after buying an additional 48,900 shares during the period. DORCHESTER WEALTH MANAGEMENT Co purchased a new position in shares of Etsy during the third quarter valued at approximately $214,000. Finally, International Assets Investment Management LLC purchased a new position in shares of Etsy during the third quarter valued at approximately $1,233,000. Hedge funds and other institutional investors own 99.53% 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.