Research Analysts Set Expectations for Etsy, Inc.’s Q2 2022 Earnings (NASDAQ:ETSY)

Etsy, Inc. (NASDAQ:ETSYGet Rating) – Wedbush decreased their Q2 2022 earnings per share estimates for shares of Etsy in a research note issued to investors on Thursday, May 5th. Wedbush analyst Y. Arounian now expects that the specialty retailer will earn $0.60 per share for the quarter, down from their prior estimate of $0.70. Wedbush also issued estimates for Etsy’s Q3 2022 earnings at $0.59 EPS, Q4 2022 earnings at $1.01 EPS, FY2022 earnings at $2.80 EPS, Q1 2023 earnings at $0.76 EPS, Q2 2023 earnings at $0.76 EPS, Q3 2023 earnings at $0.78 EPS, Q4 2023 earnings at $1.31 EPS and FY2023 earnings at $3.61 EPS.

Etsy (NASDAQ:ETSYGet Rating) last released its quarterly earnings data on Wednesday, May 4th. The specialty retailer reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.01. The business had revenue of $579.30 million for the quarter, compared to the consensus estimate of $574.71 million. Etsy had a return on equity of 73.57% and a net margin of 18.49%. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.00 EPS.

A number of other research analysts also recently issued reports on ETSY. Morgan Stanley dropped their price target on Etsy from $154.00 to $113.00 in a research note on Thursday. BTIG Research dropped their price target on Etsy from $195.00 to $140.00 and set a “buy” rating on the stock in a research note on Monday, May 2nd. Needham & Company LLC dropped their price target on Etsy from $280.00 to $150.00 in a research note on Thursday. Oppenheimer dropped their price target on Etsy from $175.00 to $140.00 in a research note on Thursday. Finally, Stifel Nicolaus decreased their price objective on Etsy from $160.00 to $130.00 in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $186.16.

NASDAQ:ETSY opened at $86.38 on Monday. The stock’s 50 day moving average price is $124.38 and its 200 day moving average price is $177.55. The company has a market capitalization of $10.97 billion, a PE ratio of 28.70, a P/E/G ratio of 1.13 and a beta of 1.75. The company has a quick ratio of 2.18, a current ratio of 2.68 and a debt-to-equity ratio of 3.52. Etsy has a 52-week low of $81.11 and a 52-week high of $307.75.

A number of hedge funds have recently modified their holdings of the stock. Cetera Advisor Networks LLC raised its holdings in Etsy by 1.2% during the third quarter. Cetera Advisor Networks LLC now owns 3,288 shares of the specialty retailer’s stock worth $684,000 after purchasing an additional 38 shares during the last quarter. First Foundation Advisors increased its position in Etsy by 3.4% during the third quarter. First Foundation Advisors now owns 1,263 shares of the specialty retailer’s stock worth $263,000 after buying an additional 41 shares in the last quarter. Meeder Asset Management Inc. increased its position in Etsy by 8.9% during the third quarter. Meeder Asset Management Inc. now owns 525 shares of the specialty retailer’s stock worth $109,000 after buying an additional 43 shares in the last quarter. Geneos Wealth Management Inc. increased its position in Etsy by 4.9% during the third quarter. Geneos Wealth Management Inc. now owns 1,062 shares of the specialty retailer’s stock worth $217,000 after buying an additional 50 shares in the last quarter. Finally, United Capital Financial Advisers LLC increased its position in Etsy by 2.8% during the third quarter. United Capital Financial Advisers LLC now owns 1,951 shares of the specialty retailer’s stock worth $406,000 after buying an additional 53 shares in the last quarter. 89.93% of the stock is owned by hedge funds and other institutional investors.

In related news, CMO Ryan M. Scott sold 6,147 shares of Etsy stock in a transaction on Friday, April 1st. The stock was sold at an average price of $126.11, for a total transaction of $775,198.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Josh Silverman sold 41,700 shares of Etsy stock in a transaction on Tuesday, March 1st. The stock was sold at an average price of $158.10, for a total value of $6,592,770.00. The disclosure for this sale can be found here. Insiders sold a total of 130,825 shares of company stock valued at $18,298,401 over the last three months. Insiders own 3.80% of the company’s stock.

Etsy Company Profile (Get Rating)

Etsy, Inc operates two-sided online marketplaces that connect buyers and sellers primarily in the United States, the United Kingdom, Germany, Canada, Australia, France, and India. 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.

Further Reading

Earnings History and Estimates for Etsy (NASDAQ:ETSY)

Receive News & Ratings for Etsy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Etsy and related companies with MarketBeat.com's FREE daily email newsletter.