Research Analysts Issue Forecasts for Etsy, Inc.’s Q3 2024 Earnings (NASDAQ:ETSY)

Etsy, Inc. (NASDAQ:ETSY) – Equities research analysts at B. Riley cut their Q3 2024 earnings per share estimates for shares of Etsy in a research note issued on Thursday, August 1st. B. Riley analyst N. Khan now forecasts that the specialty retailer will post earnings per share of $0.59 for the quarter, down from their prior forecast of $0.75. 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 $2.43 per share. B. Riley also issued estimates for Etsy’s Q4 2024 earnings at $1.06 EPS, Q1 2025 earnings at $0.58 EPS, Q3 2025 earnings at $0.66 EPS and Q4 2025 earnings at $1.17 EPS.

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

ETSY has been the subject of a number of other research reports. Canaccord Genuity Group dropped their target price on shares of Etsy from $125.00 to $105.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. Morgan Stanley cut their price objective on shares of Etsy from $55.00 to $52.00 and set an “underweight” rating for the company in a report on Thursday, May 2nd. The Goldman Sachs Group lowered their target price on Etsy from $80.00 to $70.00 and set a “neutral” rating on the stock in a report on Thursday, May 2nd. Stifel Nicolaus cut their price target on Etsy from $65.00 to $64.00 and set a “hold” rating for the company in a report on Thursday, August 1st. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on Etsy from $80.00 to $65.00 and set a “hold” rating for the company in a report on Wednesday, April 10th. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Etsy currently has an average rating of “Hold” and a consensus price target of $73.91.

Etsy Stock Performance

Shares of ETSY opened at $53.98 on Monday. The stock has a 50 day moving average price of $60.81 and a 200 day moving average price of $65.74. Etsy has a one year low of $53.47 and a one year high of $89.58. The stock has a market capitalization of $6.31 billion, a price-to-earnings ratio of 24.65, a PEG ratio of 5.02 and a beta of 2.02.

Insider Activity

In other Etsy news, insider Nicholas Daniel sold 750 shares of Etsy stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $59.74, for a total value of $44,805.00. Following the completion of the transaction, the insider now directly owns 18,833 shares of the company’s stock, valued at approximately $1,125,083.42. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Toni Thompson Nadal sold 1,444 shares of the company’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $65.68, for a total transaction of $94,841.92. Following the sale, the insider now owns 592 shares of the company’s stock, valued at $38,882.56. The transaction 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 Thursday, August 1st. The shares were sold at an average price of $59.74, for a total value of $44,805.00. Following the completion of the transaction, the insider now owns 18,833 shares of the company’s stock, valued at $1,125,083.42. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,694 shares of company stock valued at $169,687. 2.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Etsy

A number of hedge funds have recently bought and sold shares of ETSY. Arizona State Retirement System increased its stake in shares of Etsy by 0.5% during the fourth quarter. Arizona State Retirement System now owns 33,810 shares of the specialty retailer’s stock worth $2,740,000 after buying an additional 157 shares during the period. Envestnet Portfolio Solutions Inc. raised its holdings in shares of Etsy by 3.8% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 4,368 shares of the specialty retailer’s stock valued at $354,000 after purchasing an additional 161 shares in the last quarter. Truist Financial Corp lifted its position in shares of Etsy by 2.7% during the 4th quarter. Truist Financial Corp now owns 6,367 shares of the specialty retailer’s stock worth $516,000 after purchasing an additional 168 shares during the last quarter. Yousif Capital Management LLC grew its stake in shares of Etsy by 1.1% during the first quarter. Yousif Capital Management LLC now owns 16,384 shares of the specialty retailer’s stock worth $1,126,000 after purchasing an additional 172 shares in the last quarter. Finally, D.A. Davidson & CO. increased its holdings in Etsy by 0.9% in the fourth quarter. D.A. Davidson & CO. now owns 19,580 shares of the specialty retailer’s stock valued at $1,587,000 after buying an additional 184 shares during the last quarter. Institutional investors and hedge funds own 99.53% 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.