B. Riley Weighs in on Etsy, Inc.’s FY2024 Earnings (NASDAQ:ETSY)

Etsy, Inc. (NASDAQ:ETSY) – Analysts at B. Riley decreased their FY2024 earnings per share (EPS) estimates for shares of Etsy in a research report issued on Thursday, May 2nd. B. Riley analyst N. Khan now forecasts that the specialty retailer will post earnings of $2.80 per share for the year, down from their previous estimate of $3.10. 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 $2.56 per share. B. Riley also issued estimates for Etsy’s FY2025 earnings at $3.53 EPS, FY2026 earnings at $4.31 EPS, FY2027 earnings at $5.19 EPS and FY2028 earnings at $6.11 EPS.

A number of other brokerages have also recently commented on ETSY. UBS Group reduced their target price on Etsy from $75.00 to $72.00 and set a “neutral” rating for the company in a report on Thursday, February 22nd. Wedbush cut their target price on Etsy from $70.00 to $65.00 and set a “neutral” rating on the stock in a research report on Thursday. The Goldman Sachs Group cut their price objective on Etsy from $80.00 to $70.00 and set a “neutral” rating on the stock in a research report on Thursday. BTIG Research decreased their price objective on shares of Etsy from $87.00 to $78.00 and set a “buy” rating for the company in a research report on Thursday. Finally, Guggenheim reduced their price target on shares of Etsy from $95.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday. Four research analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, Etsy has a consensus rating of “Hold” and an average target price of $79.96.

Etsy Price Performance

Shares of ETSY stock opened at $59.97 on Friday. The stock has a 50 day simple moving average of $68.05 and a 200-day simple moving average of $71.56. Etsy has a 1-year low of $56.60 and a 1-year high of $102.81. The company has a market cap of $7.02 billion, a price-to-earnings ratio of 27.05, a PEG ratio of 4.89 and a beta of 2.00.

Etsy (NASDAQ:ETSY) last released its quarterly earnings data on Wednesday, May 1st. The specialty retailer reported $0.48 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.01). Etsy had a negative return on equity of 68.52% and a net margin of 10.75%. The company had revenue of $646.00 million during the quarter, compared to analysts’ expectations of $646.30 million. During the same quarter in the prior year, the company posted $0.53 EPS. The company’s revenue for the quarter was up .8% on a year-over-year basis.

Institutional Investors Weigh In On Etsy

Institutional investors and hedge funds have recently modified their holdings of the stock. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its holdings in Etsy by 27.8% in the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 45,100 shares of the specialty retailer’s stock worth $2,913,000 after acquiring an additional 9,800 shares during the period. Xponance Inc. boosted its stake in shares of Etsy by 8.1% in the third quarter. Xponance Inc. now owns 25,867 shares of the specialty retailer’s stock valued at $1,670,000 after purchasing an additional 1,946 shares during the period. Raymond James & Associates grew its holdings in Etsy by 2.0% during the 3rd quarter. Raymond James & Associates now owns 110,563 shares of the specialty retailer’s stock valued at $7,140,000 after purchasing an additional 2,204 shares in the last quarter. Rovin Capital UT ADV increased its stake in Etsy by 28.6% during the 3rd quarter. Rovin Capital UT ADV now owns 5,483 shares of the specialty retailer’s stock worth $354,000 after buying an additional 1,218 shares during the period. Finally, Concord Wealth Partners lifted its holdings in Etsy by 9,333.3% in the 3rd quarter. Concord Wealth Partners now owns 1,981 shares of the specialty retailer’s stock worth $128,000 after buying an additional 1,960 shares in the last quarter. Hedge funds and other institutional investors own 99.53% of the company’s stock.

Insider Buying and Selling

In related news, insider Nicholas Daniel sold 1,500 shares of Etsy stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $71.82, for a total transaction of $107,730.00. Following the completion of the transaction, the insider now directly owns 13,138 shares in the company, valued at approximately $943,571.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Josh Silverman sold 63,047 shares of Etsy stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $72.50, for a total value of $4,570,907.50. Following the transaction, the chief executive officer now owns 23,140 shares in the company, valued at $1,677,650. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Nicholas Daniel sold 1,500 shares of Etsy stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $71.82, for a total value of $107,730.00. Following the completion of the transaction, the insider now directly owns 13,138 shares in the company, valued at $943,571.16. The disclosure for this sale can be found here. Insiders have sold a total of 66,968 shares of company stock worth $4,836,827 in the last quarter. Company insiders own 2.60% of the company’s stock.

About Etsy

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.