Etsy (NASDAQ:ETSY) Releases Earnings Results, Beats Estimates By $0.08 EPS

Etsy (NASDAQ:ETSY) issued its earnings results on Wednesday. The specialty retailer reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.08, RTT News reports. Etsy had a negative return on equity of 46.79% and a net margin of 9.17%. During the same period in the previous year, the business posted $0.62 EPS.

Etsy Price Performance

Shares of NASDAQ:ETSY opened at $57.34 on Wednesday. Etsy has a fifty-two week low of $47.10 and a fifty-two week high of $78.65. The business has a 50-day moving average of $54.88 and a two-hundred day moving average of $53.84. The stock has a market capitalization of $6.45 billion, a P/E ratio of 29.26, a P/E/G ratio of 2.83 and a beta of 2.00.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on ETSY shares. Bank of America decreased their target price on Etsy from $61.00 to $58.00 and set a “neutral” rating on the stock in a report on Thursday, October 24th. Stifel Nicolaus lowered their price target on Etsy from $64.00 to $56.00 and set a “hold” rating on the stock in a report on Monday, October 28th. JMP Securities reiterated a “market perform” rating on shares of Etsy in a report on Monday, December 16th. Deutsche Bank Aktiengesellschaft lifted their price target on Etsy from $48.00 to $50.00 and gave the company a “hold” rating in a report on Friday, November 1st. Finally, Citigroup lifted their price target on Etsy from $54.00 to $56.00 and gave the company a “neutral” rating in a report on Friday, February 14th. Four investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $62.50.

Insiders Place Their Bets

In other Etsy news, insider Nicholas Daniel sold 1,500 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $55.34, for a total value of $83,010.00. Following the completion of the sale, the insider now owns 22,198 shares of the company’s stock, valued at $1,228,437.32. The trade was a 6.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.60% of the company’s stock.

Etsy announced that its Board of Directors has authorized a share repurchase program on Wednesday, October 30th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the specialty retailer to buy up to 17.8% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

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.