Etsy (NASDAQ:ETSY) Releases Earnings Results

Etsy (NASDAQ:ETSY) released its quarterly earnings data on Wednesday. The specialty retailer reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.08, RTT News reports. The business had revenue of $852.16 million during the quarter, compared to analyst estimates of $861.37 million. Etsy had a negative return on equity of 46.79% and a net margin of 9.17%. The company’s revenue was up 1.2% on a year-over-year basis. During the same quarter last year, the business posted $0.62 EPS.

Etsy Stock Performance

ETSY opened at $52.81 on Thursday. The company has a 50-day moving average of $54.73 and a 200-day moving average of $53.83. The company has a market capitalization of $5.94 billion, a P/E ratio of 26.28, a PEG ratio of 2.83 and a beta of 2.00. Etsy has a 1-year low of $47.10 and a 1-year high of $78.65.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Stifel Nicolaus reduced their price objective on Etsy from $64.00 to $56.00 and set a “hold” rating for the company in a research note on Monday, October 28th. Bank of America cut their price objective on Etsy from $61.00 to $58.00 and set a “neutral” rating for the company in a research note on Thursday, October 24th. Needham & Company LLC reiterated a “buy” rating and issued a $60.00 price objective on shares of Etsy in a report on Thursday. Morgan Stanley decreased their price objective on Etsy from $47.00 to $45.00 and set an “underweight” rating on the stock in a report on Monday, January 13th. Finally, Barclays decreased their price objective on Etsy from $60.00 to $55.00 and set an “equal weight” rating on the stock in a report on Thursday, October 31st. Four research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Etsy has a consensus rating of “Hold” and a consensus price target of $62.21.

Insider Transactions at Etsy

In related news, insider Nicholas Daniel sold 1,500 shares of the business’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 sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.60% of the company’s stock.

Etsy announced that its board has authorized a stock buyback program on Wednesday, October 30th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the specialty retailer to reacquire up to 17.8% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

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.