Etsy (ETSY) Expected to Announce Quarterly Earnings on Wednesday

Etsy (NASDAQ:ETSY) is expected to issue its quarterly earnings data before the market opens on Wednesday, February 19th. Analysts expect the company to announce earnings of $0.94 per share and revenue of $861.37 million for the quarter. Parties that are interested in registering for the company’s conference call can do so using this link.

Etsy Trading Up 3.4 %

ETSY stock opened at $57.20 on Tuesday. The firm’s 50-day moving average price is $54.90 and its two-hundred day moving average price is $53.86. Etsy has a 12-month low of $47.10 and a 12-month high of $78.65. The stock has a market capitalization of $6.43 billion, a price-to-earnings ratio of 29.18, a PEG ratio of 2.71 and a beta of 2.00.

Etsy declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, October 30th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the specialty retailer to reacquire up to 17.8% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity at Etsy

In other news, insider Nicholas Daniel sold 1,500 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $55.34, for a total transaction of $83,010.00. Following the completion of the transaction, the insider now owns 22,198 shares of the company’s stock, valued at $1,228,437.32. This represents a 6.33 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on ETSY shares. Bank of America dropped their price objective on shares of Etsy from $61.00 to $58.00 and set a “neutral” rating on the stock in a research note on Thursday, October 24th. Wedbush dropped their target price on shares of Etsy from $65.00 to $58.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 22nd. Stifel Nicolaus dropped their target price on shares of Etsy from $64.00 to $56.00 and set a “hold” rating on the stock in a research note on Monday, October 28th. Moffett Nathanson upped their target price on shares of Etsy from $60.00 to $61.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th. Finally, Truist Financial dropped their target price on shares of Etsy from $70.00 to $67.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Four analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $62.50.

About Etsy

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.