Etsy (NYSE:ETSY) Stock Price Up 6.6% on Earnings Beat

Etsy Inc (NYSE:ETSY)’s share price rose 6.6% on Friday after the company announced better than expected quarterly earnings. The company traded as high as $51.84 and last traded at $51.34. Approximately 3,186,203 shares changed hands during mid-day trading, a decline of 20% from the average daily volume of 3,987,784 shares. The stock had previously closed at $48.14.

The company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.04. Etsy had a net margin of 5.65% and a negative return on equity of 24.94%. The company had revenue of $881.64 million for the quarter.

Analyst Upgrades and Downgrades

ETSY has been the subject of several research analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Etsy in a research note on Monday, December 29th. BNP Paribas Exane upgraded shares of Etsy to a “hold” rating in a research note on Monday, November 24th. Citigroup raised shares of Etsy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 30th. Zacks Research downgraded shares of Etsy from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 10th. Finally, Evercore lowered shares of Etsy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Etsy has an average rating of “Hold”.

Etsy Stock Performance

The stock has a 50-day moving average price of $55.66. The stock has a market cap of $5.16 billion, a PE ratio of 39.92, a P/E/G ratio of 5.56 and a beta of 1.77.

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.