Etsy (ETSY) Set to Announce Its Earnings on Wednesday

Etsy (NASDAQ:ETSY – Get Rating) is set to release earnings data after market close on Wednesday, November 2. Analysts expect Etsy to post earnings of $0.37 per share for the quarter. Those interested in listening to the company’s earnings conference call can do so using this link.

Etsy (NASDAQ:ETSY – Get Rating) last released its results on Wednesday, July 27. The specialty retailer reported earnings per share of $0.51 for the quarter, beating analysts’ consensus estimate of $0.38 by $0.13. Etsy had a return on equity of 67.88% and a net margin of 17.01%. The company posted revenue of $585.20 million in the quarter, versus analyst estimates of $556.85 million. In the same quarter of the previous year, the company achieved EPS of $0.68. Etsy’s revenue grew 10.6% year over year. On average, analysts expect Etsy to post EPS of $2 for the current fiscal year and EPS of $2 for the next fiscal year.

Etsy Price Performance

NASDAQ:ETSY shares opened at $103.24 on Wednesday. Etsy has a fifty-two week minimum of $67.01 and a fifty-two week maximum of $307.75. The company has a 50-day simple moving average of $105.32 and a two-hundred-day simple moving average of $96.22. The company has a debt ratio of 4.10, a quick ratio of 2.93 and a current ratio of 2.93. The company has a market capitalization of $13.07 billion, a price-to-earnings ratio of 36.35, a growth price-to-earnings ratio of 5.74 and a beta of 1.80.

Insider activity on Etsy

Separately, CMO Ryan M. Scott sold 6,146 shares in a trade on Monday, October 3. The stock was sold at an average price of $104.00, for a total transaction of $639,184.00. Following the sale, the marketing director now owns 4,170 shares of the company, valued at approximately $433,680. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this link. In other Etsy news, CEO Josh Silverman sold 20,850 shares of the company in a trade on Wednesday, August 3. The stock was sold at an average price of $107.80, for a total value of $2,247,630.00. As a result of the transaction, the CEO now owns 102,707 shares of the company, valued at approximately $11,071,814.60. The sale was disclosed in a filing with the Securities & Exchange Commission, accessible via this hyperlink. Additionally, CMO Ryan M. Scott sold 6,146 shares of the company in a trade on Monday, October 3. The shares were sold at an average price of $104.00, for a total value of $639,184.00. Following the completion of the transaction, the chief marketing officer now directly owns 4,170 shares of the company, valued at approximately $433,680. The disclosure of this sale can be found here. In the past 90 days, insiders have sold 140,366 shares of the company worth $15,044,016. Insiders of the company own 3.10% of the shares of the company.

Hedge Funds Weigh on Etsy

Hedge funds have recently been buying and selling shares of the company. Donoghue Forlines LLC increased its position in Etsy shares by 67.8% during Q1. Donoghue Forlines LLC now owns 5,467 shares of the specialty retailer worth $679,000 after buying 2,208 additional shares last quarter. Private Advisor Group LLC increased its position in Etsy by 16.1% during the first quarter. Private Advisor Group LLC now owns 5,222 shares of the specialty retailer valued at $649,000 after purchasing an additional 725 shares in the last quarter. Creative Planning increased its position on Etsy by 14.6% during the second quarter. Creative Planning now owns 8,126 shares of the specialty retailer valued at $595,000 after buying an additional 1,035 shares in the last quarter. Prudential PLC purchased a new stake in Etsy during the first quarter worth approximately $437,000. Finally, Stamos Capital Partners LP purchased a new stake in Etsy during the first quarter worth approximately $385,000. Institutional investors hold 98.68% of the company’s shares.

Analysts set new price targets

A number of brokerages have weighed in on ETSY. Oppenheimer raised its target price on Etsy from $120.00 to $127.00 and gave the stock an “outperform” rating in a Thursday, July 28 research report. Piper Sandler began covering Etsy in a research note on Wednesday, August 3. They set a “neutral” rating and a price target of $95.00 for the company. Guggenheim raised its price target on Etsy from $105.00 to $125.00 in a Wednesday, October 5 research note. Jefferies Financial Group reduced its price target on Etsy from $140.00 to $138.00 and set a “buy” rating for the company in a Thursday, October 6 research note. Finally, BTIG Research reduced its price target on Etsy from $122.00 to $119.00 in a Monday, October 10 research note. Eleven investment analysts gave the stock a hold rating and twelve gave the company a buy rating. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $125.18.

About Etsy

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Etsy, Inc operates two-way online marketplaces that connect buyers and sellers primarily in the United States, United Kingdom, Germany, Canada, Australia, France, and India. Its main marketplace is Etsy.com which connects artisans and entrepreneurs with diverse 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.

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Earnings history for Etsy (NASDAQ:ETSY)

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