Etsy, Inc. to Post Q3 2024 Earnings of $0.59 Per Share, B. Riley Forecasts (NASDAQ:ETSY)

Etsy, Inc. (NASDAQ:ETSY) – B. Riley decreased their Q3 2024 EPS estimates for shares of Etsy in a research note issued to investors on Thursday, August 1st. B. Riley analyst N. Khan now forecasts that the specialty retailer will earn $0.59 per share for the quarter, down from their previous estimate of $0.75. B. Riley has a “Buy” rating and a $83.00 price objective 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 issued its quarterly earnings data on Wednesday, July 31st. The specialty retailer reported $0.41 earnings per share 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 business had revenue of $647.80 million for the quarter, compared to the consensus estimate of $629.87 million. During the same period in the previous year, the business posted $0.83 EPS. Etsy’s revenue was up 3.0% compared to the same quarter last year.

ETSY has been the topic of a number of other reports. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Etsy from $80.00 to $65.00 and set a “hold” rating on the stock in a research note on Wednesday, April 10th. Oppenheimer lowered Etsy from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 1st. Stifel Nicolaus cut their price objective on Etsy from $65.00 to $64.00 and set a “hold” rating for the company in a research report on Thursday, August 1st. JMP Securities lowered Etsy from an “outperform” rating to a “market perform” rating in a report on Thursday, May 2nd. Finally, Wedbush reiterated a “neutral” rating and set a $65.00 price target on shares of Etsy in a report on Monday, July 22nd. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $73.91.

Etsy Stock Performance

Shares of NASDAQ ETSY opened at $53.98 on Monday. Etsy has a 52 week low of $53.47 and a 52 week high of $89.58. The business’s 50-day simple moving average is $60.81 and its 200-day simple moving average is $65.74. The firm has a market cap of $6.31 billion, a price-to-earnings ratio of 24.65, a P/E/G ratio of 5.02 and a beta of 2.02.

Insiders Place Their Bets

In other Etsy 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 value of $94,841.92. Following the sale, the insider now directly owns 592 shares in the company, valued at $38,882.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Toni Thompson Nadal sold 1,444 shares of Etsy stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $65.68, for a total transaction of $94,841.92. Following the completion of the transaction, the insider now directly owns 592 shares of the company’s stock, valued at approximately $38,882.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Nicholas Daniel sold 750 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $59.74, for a total transaction of $44,805.00. Following the sale, the insider now directly owns 18,833 shares in the company, valued at $1,125,083.42. The disclosure for this sale can be found here. Insiders sold a total of 2,694 shares of company stock worth $169,687 over the last quarter. Company insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Etsy

Institutional investors have recently bought and sold shares of the business. Polen Capital Management LLC raised its position in shares of Etsy by 83.3% during the fourth quarter. Polen Capital Management LLC now owns 34,322 shares of the specialty retailer’s stock worth $2,782,000 after acquiring an additional 15,598 shares during the last quarter. MCF Advisors LLC boosted its position in shares of Etsy by 23,542.9% during the first quarter. MCF Advisors LLC now owns 3,310 shares of the specialty retailer’s stock worth $227,000 after purchasing an additional 3,296 shares in the last quarter. Coldstream Capital Management Inc. acquired a new position in shares of Etsy in the 4th quarter valued at $267,000. TD Asset Management Inc increased its position in shares of Etsy by 16.8% in the 1st quarter. TD Asset Management Inc now owns 1,540,465 shares of the specialty retailer’s stock valued at $105,861,000 after buying an additional 221,275 shares in the last quarter. Finally, Artisan Partners Limited Partnership raised its stake in Etsy by 2.0% during the 4th quarter. Artisan Partners Limited Partnership now owns 1,555,432 shares of the specialty retailer’s stock worth $126,068,000 after buying an additional 30,561 shares during the period. Institutional investors own 99.53% 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.