Q2 2024 EPS Estimates for Etsy, Inc. Lifted by Zacks Research (NASDAQ:ETSY)

Etsy, Inc. (NASDAQ:ETSY) – Analysts at Zacks Research increased their Q2 2024 earnings per share estimates for Etsy in a note issued to investors on Wednesday, May 22nd. Zacks Research analyst R. Department now anticipates that the specialty retailer will post earnings of $0.45 per share for the quarter, up from their previous estimate of $0.42. The consensus estimate for Etsy’s current full-year earnings is $2.49 per share. Zacks Research also issued estimates for Etsy’s Q3 2024 earnings at $0.58 EPS, Q4 2024 earnings at $0.91 EPS, FY2024 earnings at $2.42 EPS, Q1 2025 earnings at $0.49 EPS, Q2 2025 earnings at $0.56 EPS, Q3 2025 earnings at $0.70 EPS, Q4 2025 earnings at $1.01 EPS, FY2025 earnings at $2.77 EPS, Q1 2026 earnings at $0.59 EPS and FY2026 earnings at $3.01 EPS.

Etsy (NASDAQ:ETSY) last announced its quarterly earnings data on Wednesday, May 1st. The specialty retailer reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.01). The company had revenue of $646.00 million during the quarter, compared to analyst estimates of $646.30 million. Etsy had a net margin of 10.75% and a negative return on equity of 67.27%. Etsy’s revenue was up .8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.53 earnings per share.

ETSY has been the topic of several other reports. Wedbush dropped their target price on shares of Etsy from $70.00 to $65.00 and set a “neutral” rating for the company in a research report on Thursday, May 2nd. JMP Securities downgraded shares of Etsy from an “outperform” rating to a “market perform” rating in a research report on Thursday, May 2nd. Citigroup reduced their target price on Etsy from $72.00 to $62.00 and set a “neutral” rating on the stock in a report on Thursday, May 2nd. Canaccord Genuity Group lowered their price target on Etsy from $125.00 to $105.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. Finally, Oppenheimer dropped their price objective on Etsy from $95.00 to $80.00 and set an “outperform” rating for the company in a research report on Monday, April 29th. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $79.96.

Etsy Stock Down 2.4 %

ETSY stock opened at $60.62 on Thursday. Etsy has a 52 week low of $56.60 and a 52 week high of $102.81. The business has a 50-day simple moving average of $65.71 and a 200 day simple moving average of $71.43. The company has a market cap of $7.09 billion, a PE ratio of 27.68, a price-to-earnings-growth ratio of 5.22 and a beta of 2.00.

Insider Activity at Etsy

In other Etsy news, insider Nicholas Daniel sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $71.82, for a total transaction of $107,730.00. Following the completion of the transaction, the insider now owns 13,138 shares in the company, valued at approximately $943,571.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Etsy news, insider Nicholas Daniel sold 1,500 shares of the stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $71.82, for a total transaction of $107,730.00. Following the completion of the sale, the insider now directly owns 13,138 shares in the company, valued at approximately $943,571.16. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Merilee Buckley sold 1,671 shares of Etsy 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 directly owns 2,827 shares of the company’s stock, valued at $183,868.08. The disclosure for this sale can be found here. Insiders have sold 66,968 shares of company stock worth $4,836,827 over the last ninety days. Insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Etsy

A number of institutional investors and hedge funds have recently modified their holdings of ETSY. CVA Family Office LLC bought a new position in Etsy during the fourth quarter worth $27,000. Operose Advisors LLC acquired a new stake in shares of Etsy in the 3rd quarter valued at about $28,000. Sunbelt Securities Inc. grew its stake in shares of Etsy by 3,900.0% in 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 period. EverSource Wealth Advisors LLC raised its stake in Etsy by 402.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 447 shares of the specialty retailer’s stock worth $36,000 after buying an additional 358 shares during the period. Finally, Larson Financial Group LLC boosted its holdings in Etsy by 1,576.5% in the first quarter. Larson Financial Group LLC now owns 570 shares of the specialty retailer’s stock worth $39,000 after acquiring an additional 536 shares in the last quarter. 99.53% of the stock is currently owned by institutional investors.

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.