Etsy (NASDAQ:ETSY) Releases Earnings Results

Etsy (NASDAQ:ETSY) issued its quarterly earnings data on Wednesday. The specialty retailer reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.05), Briefing.com reports. The company had revenue of $647.80 million for the quarter, compared to analyst estimates of $629.87 million. Etsy had a negative return on equity of 67.27% and a net margin of 10.75%. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.83 EPS.

Etsy Price Performance

Shares of NASDAQ:ETSY traded down $5.80 on Thursday, reaching $59.34. 5,676,616 shares of the company traded hands, compared to its average volume of 3,595,427. Etsy has a fifty-two week low of $55.08 and a fifty-two week high of $97.44. The company’s 50 day moving average is $61.10 and its 200-day moving average is $66.11. The stock has a market capitalization of $6.94 billion, a PE ratio of 27.64, a P/E/G ratio of 5.27 and a beta of 2.02.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ETSY. Truist Financial reduced their price objective on Etsy from $77.00 to $76.00 and set a “buy” rating on the stock in a research note on Thursday. Canaccord Genuity Group cut their price target on Etsy from $125.00 to $105.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Wells Fargo & Company cut their price target on Etsy from $58.00 to $56.00 and set an “underweight” rating on the stock in a research note on Tuesday, June 25th. Wolfe Research began coverage on Etsy in a research note on Tuesday, July 16th. They issued a “peer perform” rating on the stock. Finally, Barclays cut their price target on Etsy from $67.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 2nd. Four equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $78.67.

Insider Activity

In other news, insider Toni Thompson Nadal sold 1,444 shares of the stock in a transaction on Monday, June 10th. The stock was sold at an average price of $65.68, for a total value of $94,841.92. Following the completion of the sale, the insider now owns 592 shares in the company, valued at $38,882.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.60% of the company’s stock.

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.