Q1 2023 EPS Estimates for Etsy, Inc. (NASDAQ:ETSY) Cut by Jefferies Financial Group

Etsy, Inc. (NASDAQ:ETSY – Get Rating) – Equities research analysts at Jefferies Financial Group lowered their Q1 2023 EPS estimates for Etsy in a report issued on Thursday, March 9th. Jefferies Financial Group analyst J. Colantuoni now forecasts that the specialty retailer will post earnings of $0.50 per share for the quarter, down from their previous forecast of $0.96. Jefferies Financial Group has a “Underperform” rating and a $85.00 price objective on the stock. The consensus estimate for Etsy’s current full-year earnings is $2.81 per share. Jefferies Financial Group also issued estimates for Etsy’s Q2 2023 earnings at $0.49 EPS, Q3 2023 earnings at $0.56 EPS, Q4 2023 earnings at $1.03 EPS, FY2023 earnings at $2.58 EPS, FY2024 earnings at $2.95 EPS and FY2025 earnings at $3.44 EPS.

Several other equities analysts also recently commented on the stock. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Etsy from $95.00 to $115.00 and gave the company a “hold” rating in a research note on Thursday, February 2nd. Truist Financial upped their price objective on shares of Etsy from $125.00 to $150.00 and gave the company a “buy” rating in a research note on Thursday, February 23rd. Canaccord Genuity Group upped their price objective on shares of Etsy from $160.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, February 23rd. Raymond James upped their price objective on shares of Etsy from $115.00 to $155.00 and gave the company an “outperform” rating in a research note on Wednesday, February 1st. Finally, Wolfe Research reaffirmed a “peer perform” rating on shares of Etsy in a research note on Thursday, February 23rd. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $130.67.

Etsy Stock Performance

Etsy stock opened at $105.98 on Monday. The company has a market capitalization of $13.21 billion, a PE ratio of -18.46, a P/E/G ratio of 5.08 and a beta of 1.99. The firm has a fifty day simple moving average of $129.30 and a two-hundred day simple moving average of $117.93. The company has a quick ratio of 2.40, a current ratio of 2.40 and a debt-to-equity ratio of 4.10. Etsy has a twelve month low of $67.01 and a twelve month high of $151.50.

Etsy (NASDAQ:ETSY – Get Rating) last posted its quarterly earnings results on Wednesday, February 22nd. The specialty retailer reported $0.77 earnings per share for the quarter, missing the consensus estimate of $0.82 by ($0.05). The business had revenue of $807.20 million during the quarter, compared to the consensus estimate of $752.12 million. Etsy had a positive return on equity of 1,306.41% and a negative net margin of 27.06%. The business’s revenue for the quarter was up 12.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.11 earnings per share.

Institutional Investors Weigh In On Etsy

Several institutional investors and hedge funds have recently made changes to their positions in the company. Victory Capital Management Inc. increased its position in shares of Etsy by 123.6% during the fourth quarter. Victory Capital Management Inc. now owns 105,984 shares of the specialty retailer’s stock valued at $12,695,000 after acquiring an additional 58,581 shares in the last quarter. OLD Mission Capital LLC bought a new stake in shares of Etsy during the fourth quarter valued at approximately $25,000. Voya Investment Management LLC increased its position in shares of Etsy by 15.7% during the fourth quarter. Voya Investment Management LLC now owns 1,064,354 shares of the specialty retailer’s stock valued at $127,488,000 after acquiring an additional 144,696 shares in the last quarter. Natixis increased its position in shares of Etsy by 260.2% during the fourth quarter. Natixis now owns 66,205 shares of the specialty retailer’s stock valued at $7,929,000 after acquiring an additional 47,827 shares in the last quarter. Finally, Equitable Trust Co. increased its position in shares of Etsy by 166.5% during the fourth quarter. Equitable Trust Co. now owns 6,337 shares of the specialty retailer’s stock valued at $759,000 after acquiring an additional 3,959 shares in the last quarter. Institutional investors own 95.46% of the company’s stock.

Insiders Place Their Bets

In other Etsy news, insider Nicholas Daniel sold 1,000 shares of the company’s stock in a transaction dated Tuesday, January 17th. The shares were sold at an average price of $135.18, for a total value of $135,180.00. Following the sale, the insider now owns 3,309 shares in the company, valued at $447,310.62. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Nicholas Daniel sold 1,000 shares of the stock in a transaction that occurred on Tuesday, January 17th. The shares were sold at an average price of $135.18, for a total transaction of $135,180.00. Following the sale, the insider now owns 3,309 shares in the company, valued at $447,310.62. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CMO Ryan M. Scott sold 1,170 shares of the firm’s stock in a transaction that occurred on Wednesday, January 4th. The shares were sold at an average price of $116.98, for a total transaction of $136,866.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 84,542 shares of company stock worth $10,731,872. 3.10% of the stock is currently owned by company insiders.

About Etsy

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Etsy, Inc engages in the operation of online marketplace. It offers handmade products such as shoes, clothing, bags, and accessories. It operates through the following segments. Etsy, Reverb, Depop, and Elo7. The company was founded by Haim Schoppik, Robert Kalin, Jared Tarbell, and Christopher Maguires in 2005 and is headquartered in New York, NY.