Etsy, Inc. (NASDAQ:ETSY) – Equities researchers at Jefferies Financial Group boosted their FY2021 earnings per share (EPS) estimates for Etsy in a research report issued on Tuesday, September 21st. Jefferies Financial Group analyst J. Colantuoni now expects that the specialty retailer will post earnings of $2.87 per share for the year, up from their previous forecast of $2.80. Jefferies Financial Group has a “Buy” rating and a $265.00 price target on the stock. Jefferies Financial Group also issued estimates for Etsy’s Q4 2021 earnings at $0.74 EPS, Q1 2022 earnings at $0.69 EPS, Q2 2022 earnings at $0.72 EPS, Q3 2022 earnings at $0.63 EPS, Q4 2022 earnings at $1.02 EPS, FY2022 earnings at $3.06 EPS, FY2023 earnings at $4.21 EPS and FY2024 earnings at $5.44 EPS.
A number of other analysts have also recently weighed in on the stock. Oppenheimer increased their price objective on shares of Etsy from $200.00 to $225.00 and gave the stock an “outperform” rating in a report on Monday, July 12th. Zacks Investment Research raised Etsy from a “sell” rating to a “hold” rating and set a $190.00 price target for the company in a research report on Monday, August 9th. Loop Capital reduced their price target on Etsy from $240.00 to $220.00 and set a “buy” rating for the company in a research report on Thursday, August 5th. Wedbush dropped their price objective on Etsy from $204.00 to $195.00 and set an “outperform” rating on the stock in a research note on Thursday, August 5th. Finally, Morgan Stanley upgraded Etsy from an “underweight” rating to an “equal weight” rating and set a $163.00 price objective on the stock in a research note on Thursday, August 5th. Three equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $224.55.
Etsy (NASDAQ:ETSY) last issued its earnings results on Wednesday, August 4th. The specialty retailer reported $0.68 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.04. Etsy had a net margin of 22.45% and a return on equity of 73.54%. The business had revenue of $528.90 million for the quarter, compared to the consensus estimate of $525.70 million. During the same quarter in the previous year, the firm earned $0.75 earnings per share. The business’s quarterly revenue was up 23.5% compared to the same quarter last year.
Several institutional investors and hedge funds have recently modified their holdings of the business. Parametric Portfolio Associates LLC raised its stake in shares of Etsy by 6.3% in the second quarter. Parametric Portfolio Associates LLC now owns 349,738 shares of the specialty retailer’s stock valued at $71,990,000 after buying an additional 20,711 shares during the period. Marshall Wace North America L.P. raised its stake in shares of Etsy by 62.1% during the 2nd quarter. Marshall Wace North America L.P. now owns 289,614 shares of the specialty retailer’s stock valued at $59,615,000 after purchasing an additional 110,996 shares during the period. Morgan Stanley raised its stake in shares of Etsy by 153.1% during the 2nd quarter. Morgan Stanley now owns 926,785 shares of the specialty retailer’s stock valued at $190,770,000 after purchasing an additional 560,583 shares during the period. KB Financial Partners LLC raised its stake in shares of Etsy by 34.6% during the 2nd quarter. KB Financial Partners LLC now owns 463 shares of the specialty retailer’s stock valued at $95,000 after purchasing an additional 119 shares during the period. Finally, Beacon Pointe Advisors LLC raised its stake in shares of Etsy by 76.0% during the 2nd quarter. Beacon Pointe Advisors LLC now owns 1,769 shares of the specialty retailer’s stock valued at $364,000 after purchasing an additional 764 shares during the period. Hedge funds and other institutional investors own 87.30% of the company’s stock.
In related news, CMO Ryan M. Scott sold 990 shares of Etsy stock in a transaction that occurred on Tuesday, July 6th. The stock was sold at an average price of $196.40, for a total transaction of $194,436.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Goyal Kruti Patel sold 6,800 shares of Etsy stock in a transaction on Thursday, July 1st. The stock was sold at an average price of $200.63, for a total value of $1,364,284.00. Following the sale, the insider now owns 39,121 shares in the company, valued at $7,848,846.23. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 67,172 shares of company stock worth $14,033,402. 3.80% of the stock is owned by insiders.
Etsy Company Profile
Etsy, Inc engages in the operation of online marketplace. It offers handmade products such as shoes, clothing, bags, and accessories. It operates through the following geographical segments: United States, United Kingdom, and Other International. The company was founded by Haim Schoppik, Robert Kalin, Jared Tarbell, and Christopher Maguires in 2005 and is headquartered in New York, NY.
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