Etsy (NASDAQ:ETSY) Releases Quarterly Earnings Results, Misses Expectations By $0.09 EPS

by · The Markets Daily

Etsy (NASDAQ:ETSY – Get Free Report) released its earnings results on Wednesday. The specialty retailer reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.09), Briefing.com reports. Etsy had a net margin of 10.36% and a negative return on equity of 51.94%. The company had revenue of $662.40 million during the quarter, compared to analysts’ expectations of $652.47 million. During the same quarter last year, the business posted $0.64 earnings per share. The company’s revenue for the quarter was up 4.1% on a year-over-year basis.

Etsy Stock Up 8.7 %

ETSY stock traded up $4.18 during trading on Thursday, hitting $52.17. The company had a trading volume of 5,996,255 shares, compared to its average volume of 3,741,913. The firm has a 50-day moving average price of $52.70 and a 200-day moving average price of $58.30. The firm has a market cap of $6.10 billion, a PE ratio of 24.88, a price-to-earnings-growth ratio of 4.85 and a beta of 1.97. Etsy has a 1-year low of $47.10 and a 1-year high of $89.58.

Insiders Place Their Bets

In other news, CAO Merilee Buckley sold 1,676 shares of the business’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $51.11, for a total value of $85,660.36. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CAO Merilee Buckley sold 1,676 shares of Etsy stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $51.11, for a total value of $85,660.36. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Toni Thompson Nadal sold 1,443 shares of the firm’s stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $51.11, for a total transaction of $73,751.73. Following the completion of the sale, the insider now owns 592 shares of the company’s stock, valued at approximately $30,257.12. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,619 shares of company stock valued at $240,825. 2.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Wedbush decreased their price objective on Etsy from $65.00 to $58.00 and set a “neutral” rating for the company in a research note on Tuesday, October 22nd. UBS Group lowered their price target on shares of Etsy from $65.00 to $58.00 and set a “neutral” rating for the company in a report on Tuesday, October 15th. Truist Financial reissued a “buy” rating and issued a $76.00 price objective on shares of Etsy in a research report on Tuesday, September 24th. Wolfe Research initiated coverage on shares of Etsy in a research report on Tuesday, July 16th. They set a “peer perform” rating for the company. Finally, Oppenheimer lowered Etsy from an “outperform” rating to a “market perform” rating in a report on Thursday, August 1st. Four analysts have rated the stock with a sell rating, twelve have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $66.48.

View Our Latest Report on ETSY

Etsy declared that its board has initiated a share buyback program on Wednesday, October 30th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the specialty retailer to buy up to 17.8% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

About Etsy

(Get Free Report)

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.

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