Etsy (NASDAQ:ETSY) Releases Earnings Results, Misses Expectations By $0.01 EPS

Etsy (NASDAQ:ETSY) released its quarterly earnings data on Wednesday. The specialty retailer reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.01), Briefing.com reports. The business had revenue of $646.00 million during the quarter, compared to analyst estimates of $646.30 million. Etsy had a negative return on equity of 67.27% and a net margin of 10.75%. Etsy’s revenue was up .8% on a year-over-year basis. During the same period in the previous year, the company earned $0.53 EPS.

Etsy Trading Up 1.2 %

Shares of ETSY opened at $59.97 on Friday. Etsy has a 12 month low of $56.60 and a 12 month high of $102.81. The firm’s 50 day moving average is $67.77 and its 200-day moving average is $71.52. The stock has a market capitalization of $7.02 billion, a PE ratio of 27.38, a P/E/G ratio of 4.16 and a beta of 2.00.

Analyst Upgrades and Downgrades

Several research firms recently commented on ETSY. Guggenheim reduced their price target on Etsy from $95.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday. UBS Group cut their price target on shares of Etsy from $75.00 to $72.00 and set a “neutral” rating on the stock in a report on Thursday, February 22nd. Loop Capital lowered shares of Etsy from a “hold” rating to a “sell” rating and decreased their price objective for the stock from $70.00 to $50.00 in a report on Thursday. Oppenheimer cut their target price on shares of Etsy from $95.00 to $80.00 and set an “outperform” rating on the stock in a research note on Monday, April 29th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on Etsy from $80.00 to $65.00 and set a “hold” rating for the company in a report on Wednesday, April 10th. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $79.96.

Insider Transactions at Etsy

In other news, CAO Merilee Buckley sold 1,671 shares of the firm’s stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $65.04, for a total transaction of $108,681.84. Following the transaction, the chief accounting officer now directly owns 2,827 shares of the company’s stock, valued at $183,868.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Nicholas Daniel sold 1,500 shares of the stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $71.82, for a total transaction of $107,730.00. Following the sale, the insider now owns 13,138 shares in the company, valued at approximately $943,571.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Merilee Buckley sold 1,671 shares of the firm’s stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $65.04, for a total transaction of $108,681.84. Following the completion of the sale, the chief accounting officer now owns 2,827 shares in the company, valued at approximately $183,868.08. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 66,968 shares of company stock valued at $4,836,827. 2.60% of the stock is currently owned by company insiders.

Etsy Company Profile

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.