Etsy, Inc. (NASDAQ:ETSY) Forecasted to Post FY2024 Earnings of $2.80 Per Share

Etsy, Inc. (NASDAQ:ETSY) – Stock analysts at B. Riley cut their FY2024 earnings per share (EPS) estimates for Etsy in a research report issued to clients and investors on Thursday, May 2nd. B. Riley analyst N. Khan now expects that the specialty retailer will post earnings per share of $2.80 for the year, down from their previous forecast of $3.10. 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 $2.55 per share. B. Riley also issued estimates for Etsy’s FY2025 earnings at $3.53 EPS, FY2026 earnings at $4.31 EPS, FY2027 earnings at $5.19 EPS and FY2028 earnings at $6.11 EPS.

Other equities analysts have also issued research reports about the company. Evercore ISI reduced their price objective on Etsy from $95.00 to $90.00 and set an “outperform” rating for the company in a research note on Thursday, February 22nd. Wells Fargo & Company reduced their price target on Etsy from $60.00 to $58.00 and set an “underweight” rating for the company in a research report on Thursday. Piper Sandler upped their price objective on Etsy from $90.00 to $103.00 and gave the stock an “overweight” rating in a research report on Thursday, February 22nd. Citigroup cut their target price on shares of Etsy from $72.00 to $62.00 and set a “neutral” rating for the company in a report on Thursday. Finally, 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. Four equities 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 company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $79.96.

Etsy Price Performance

NASDAQ ETSY opened at $59.97 on Friday. Etsy has a 1 year low of $56.60 and a 1 year high of $102.81. The company has a market capitalization of $7.02 billion, a PE ratio of 27.38, a P/E/G ratio of 4.16 and a beta of 2.00. The company has a fifty day moving average of $67.77 and a 200 day moving average of $71.53.

Etsy (NASDAQ:ETSY) last posted its quarterly earnings results on Wednesday, May 1st. The specialty retailer reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.01). The business had revenue of $646.00 million for the quarter, compared to analysts’ expectations of $646.30 million. Etsy had a negative return on equity of 67.27% and a net margin of 10.75%. The business’s quarterly revenue was up .8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.53 earnings per share.

Institutional Investors Weigh In On Etsy

Several hedge funds and other institutional investors have recently bought and sold shares of the company. CVA Family Office LLC acquired a new stake in shares of Etsy during the 4th quarter worth approximately $27,000. Operose Advisors LLC acquired a new stake in Etsy during the third quarter worth $28,000. Sunbelt Securities Inc. raised its position in Etsy by 3,900.0% in the first quarter. Sunbelt Securities Inc. now owns 440 shares of the specialty retailer’s stock valued at $30,000 after purchasing an additional 429 shares during the period. EverSource Wealth Advisors LLC lifted its stake 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 purchasing an additional 358 shares during the last quarter. Finally, Larson Financial Group LLC grew its holdings in shares of Etsy by 1,576.5% during the 1st quarter. Larson Financial Group LLC now owns 570 shares of the specialty retailer’s stock worth $39,000 after purchasing an additional 536 shares during the period. 99.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Etsy

In other Etsy news, insider Nicholas Daniel sold 750 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $66.01, for a total value of $49,507.50. Following the transaction, the insider now directly owns 19,682 shares of the company’s stock, valued at approximately $1,299,208.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Etsy news, CEO Josh Silverman sold 63,047 shares of the firm’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $72.50, for a total value of $4,570,907.50. Following the completion of the sale, the chief executive officer now directly owns 23,140 shares of the company’s stock, valued at approximately $1,677,650. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Nicholas Daniel sold 750 shares of Etsy stock in a transaction on Monday, April 1st. The stock was sold at an average price of $66.01, for a total value of $49,507.50. Following the transaction, the insider now owns 19,682 shares in the company, valued at approximately $1,299,208.82. The disclosure for this sale can be found here. In the last quarter, insiders sold 66,968 shares of company stock valued at $4,836,827. Corporate insiders own 2.60% of the company’s stock.

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.