Etsy, Inc. (NASDAQ:ETSY) to Post FY2024 Earnings of $2.55 Per Share, Cantor Fitzgerald Forecasts

Etsy, Inc. (NASDAQ:ETSY) – Analysts at Cantor Fitzgerald issued their FY2024 EPS estimates for Etsy in a research report issued to clients and investors on Thursday, September 5th. Cantor Fitzgerald analyst D. Mathivanan anticipates that the specialty retailer will post earnings of $2.55 per share for the year. Cantor Fitzgerald currently has a “Neutral” rating and a $50.00 price objective on the stock. The consensus estimate for Etsy’s current full-year earnings is $2.38 per share.

Etsy (NASDAQ:ETSY) last announced its quarterly earnings results on Wednesday, July 31st. The specialty retailer reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.05). The company had revenue of $647.80 million during the quarter, compared to analyst estimates of $629.87 million. Etsy had a net margin of 10.36% and a negative return on equity of 51.94%. The firm’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the company posted $0.83 EPS.

Several other analysts also recently issued reports on the company. Oppenheimer downgraded Etsy from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 1st. Loop Capital reduced their target price on shares of Etsy from $50.00 to $45.00 and set a “sell” rating for the company in a research report on Monday, August 12th. Wells Fargo & Company decreased their price target on shares of Etsy from $58.00 to $56.00 and set an “underweight” rating on the stock in a research note on Tuesday, June 25th. Piper Sandler reiterated a “neutral” rating and issued a $56.00 price objective on shares of Etsy in a research note on Friday, August 23rd. Finally, Wedbush restated a “neutral” rating and set a $65.00 target price on shares of Etsy in a research report on Monday, July 22nd. Four equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Etsy currently has an average rating of “Hold” and an average price target of $70.61.

Etsy Trading Up 0.4 %

Etsy stock opened at $52.58 on Monday. The company has a market capitalization of $6.03 billion, a price-to-earnings ratio of 24.01, a PEG ratio of 5.22 and a beta of 1.98. Etsy has a 12 month low of $51.45 and a 12 month high of $89.58. The stock’s 50 day moving average is $57.36 and its 200-day moving average is $62.36.

Hedge Funds Weigh In On Etsy

Several institutional investors and hedge funds have recently added to or reduced their stakes in ETSY. Sunbelt Securities Inc. increased its holdings in shares of Etsy by 3,900.0% during the first quarter. Sunbelt Securities Inc. now owns 440 shares of the specialty retailer’s stock worth $30,000 after buying an additional 429 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in Etsy by 402.2% in the fourth 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. Larson Financial Group LLC boosted its stake in shares of Etsy by 1,576.5% during the first quarter. Larson Financial Group LLC now owns 570 shares of the specialty retailer’s stock valued at $39,000 after purchasing an additional 536 shares in the last quarter. Principal Securities Inc. bought a new stake in shares of Etsy during the fourth quarter worth about $47,000. Finally, Quadrant Capital Group LLC grew its holdings in shares of Etsy by 56.4% during the fourth quarter. Quadrant Capital Group LLC now owns 688 shares of the specialty retailer’s stock worth $56,000 after purchasing an additional 248 shares during the last quarter. Institutional investors own 99.53% of the company’s stock.

Insiders Place Their Bets

In other news, insider Nicholas Daniel sold 750 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $55.40, for a total value of $41,550.00. Following the sale, the insider now directly owns 18,083 shares in the company, valued at approximately $1,001,798.20. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Over the last 90 days, insiders sold 2,000 shares of company stock valued at $116,395. 2.60% of the stock is currently owned by corporate insiders.

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.