B. Riley Analysts Lower Earnings Estimates for Etsy, Inc. (NASDAQ:ETSY)

Etsy, Inc. (NASDAQ:ETSY) – Stock analysts at B. Riley dropped their Q2 2024 earnings estimates for shares of Etsy in a research report issued on Thursday, May 2nd. B. Riley analyst N. Khan now anticipates that the specialty retailer will earn $0.55 per share for the quarter, down from their previous forecast of $0.69. B. Riley currently has a “Buy” rating and a $83.00 target price 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 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 company had revenue of $646.00 million during the quarter, compared to the consensus estimate of $646.30 million. During the same period in the prior year, the business posted $0.53 earnings per share. Etsy’s revenue for the quarter was up .8% compared to the same quarter last year.

Several other brokerages also recently weighed in on ETSY. Needham & Company LLC lowered their price target on shares of Etsy from $95.00 to $75.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. UBS Group lowered their target price on shares of Etsy from $75.00 to $72.00 and set a “neutral” rating on the stock in a research note on Thursday, February 22nd. Guggenheim cut their price target on Etsy from $95.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. Barclays lowered their price objective on Etsy from $67.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 2nd. Finally, BTIG Research decreased their target price on Etsy from $87.00 to $78.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $79.96.

Etsy Stock Up 0.5 %

ETSY stock opened at $62.77 on Monday. The business’s 50-day moving average price is $67.39 and its 200-day moving average price is $71.52. The stock has a market cap of $7.34 billion, a P/E ratio of 28.66, a PEG ratio of 4.73 and a beta of 2.00. Etsy has a twelve month low of $56.60 and a twelve month high of $102.81.

Insider Buying and Selling at Etsy

In other news, CEO Josh Silverman sold 63,047 shares of Etsy stock in a transaction on Tuesday, February 27th. The shares were 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 in the company, valued at $1,677,650. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Etsy news, CEO Josh Silverman sold 63,047 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now owns 23,140 shares in the company, valued at approximately $1,677,650. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Merilee Buckley sold 1,671 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $183,868.08. The disclosure for this sale can be found here. In the last quarter, insiders have sold 66,968 shares of company stock worth $4,836,827. 2.60% of the stock is owned by corporate insiders.

Institutional Trading of Etsy

Institutional investors and hedge funds have recently bought and sold shares of the business. CVA Family Office LLC purchased a new position in shares of Etsy during the fourth quarter worth $27,000. Operose Advisors LLC acquired a new stake in Etsy during the 3rd quarter worth about $28,000. Sunbelt Securities Inc. raised its stake in shares of Etsy by 3,900.0% during the 1st quarter. Sunbelt Securities Inc. now owns 440 shares of the specialty retailer’s stock valued at $30,000 after buying an additional 429 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of 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 during the period. Finally, Tompkins Financial Corp acquired a new position in shares of Etsy in the 4th quarter valued at about $41,000. 99.53% of the stock is currently owned by institutional investors and hedge funds.

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.