Etsy (NYSE:ETSY) Shares Gap Up on Strong Earnings

Shares of Etsy Inc (NYSE:ETSY) gapped up before the market opened on Thursday following a better than expected earnings announcement. The stock had previously closed at $44.05, but opened at $48.56. Etsy shares last traded at $48.32, with a volume of 4,719,849 shares.

The company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.04. Etsy had a negative return on equity of 29.07% and a net margin of 6.38%.The company had revenue of $881.64 million during the quarter.

Analysts Set New Price Targets

Several equities research analysts have weighed in on ETSY shares. Evercore cut Etsy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 30th. Citigroup upgraded Etsy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 30th. Zacks Research lowered Etsy from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 10th. Weiss Ratings reissued a “hold (c)” rating on shares of Etsy in a research note on Monday, December 29th. Finally, BNP Paribas Exane upgraded shares of Etsy to a “hold” rating in a report on Monday, November 24th. One investment analyst has rated the stock with a Strong Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold”.

Etsy Stock Up 9.5%

The stock has a market capitalization of $4.76 billion, a PE ratio of 33.97, a price-to-earnings-growth ratio of 5.09 and a beta of 1.77. The company’s 50-day simple moving average is $55.69.

About Etsy

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. In addition, it offers various seller services, including Etsy Payments, a payment processing service; Etsy Ads, an advertising platform; and Shipping Labels, which allows sellers in the United States, Canada, the United Kingdom, Australia, and India to purchase discounted shipping labels.