$132.52 Million in Sales Expected for Etsy Inc (ETSY) This Quarter
Brokerages predict that Etsy Inc (NASDAQ:ETSY) will report sales of $132.52 million for the current fiscal quarter, according to Zacks. Four analysts have made estimates for Etsy’s earnings. The highest sales estimate is $132.75 million and the lowest is $132.39 million. Etsy posted sales of $110.21 million in the same quarter last year, which suggests a positive year-over-year growth rate of 20.2%. The company is scheduled to report its next earnings results on Tuesday, February 27th.
On average, analysts expect that Etsy will report full-year sales of $132.52 million for the current fiscal year, with estimates ranging from $436.80 million to $439.20 million. For the next financial year, analysts anticipate that the business will report sales of $518.32 million per share, with estimates ranging from $506.92 million to $529.10 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow Etsy.
A number of equities research analysts have issued reports on the stock. BidaskClub raised shares of Etsy from a “hold” rating to a “buy” rating in a report on Saturday, August 26th. DA Davidson assumed coverage on Etsy in a research report on Wednesday, September 6th. They set a “buy” rating and a $18.00 target price for the company. Zacks Investment Research upgraded Etsy from a “hold” rating to a “buy” rating and set a $18.00 target price for the company in a research report on Friday, September 1st. Stifel Nicolaus reiterated a “hold” rating and set a $18.00 target price (up from $15.00) on shares of Etsy in a research report on Tuesday, November 7th. Finally, Piper Jaffray Companies reiterated a “neutral” rating and set a $14.50 target price on shares of Etsy in a research report on Wednesday, October 4th. Eleven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $15.69.
In related news, Director Frederick R. Wilson sold 87,938 shares of Etsy stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $16.24, for a total value of $1,428,113.12. Following the completion of the sale, the director now directly owns 822,062 shares in the company, valued at $13,350,286.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 4.00% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Royal Bank of Canada grew its stake in shares of Etsy by 30.3% in the 2nd quarter. Royal Bank of Canada now owns 8,812 shares of the specialty retailer’s stock valued at $133,000 after purchasing an additional 2,049 shares during the last quarter. Ameritas Investment Partners Inc. increased its stake in shares of Etsy by 12.0% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 10,160 shares of the specialty retailer’s stock worth $152,000 after purchasing an additional 1,092 shares during the last quarter. Trexquant Investment LP acquired a new position in shares of Etsy during the 3rd quarter worth about $192,000. Rehmann Capital Advisory Group acquired a new position in shares of Etsy during the 3rd quarter worth about $211,000. Finally, Amalgamated Bank grew its stake in Etsy by 14.9% in the 2nd quarter. Amalgamated Bank now owns 14,788 shares of the specialty retailer’s stock valued at $222,000 after buying an additional 1,920 shares during the last quarter. Hedge funds and other institutional investors own 74.42% of the company’s stock.
Etsy (NASDAQ:ETSY) traded up $0.36 on Monday, hitting $20.50. 3,105,500 shares of the stock traded hands, compared to its average volume of 1,992,979. The stock has a market capitalization of $2,495.14, a P/E ratio of 82.00, a price-to-earnings-growth ratio of 3.15 and a beta of 1.15. The company has a debt-to-equity ratio of 0.19, a current ratio of 4.26 and a quick ratio of 4.26. Etsy has a 52-week low of $9.41 and a 52-week high of $20.54.
Etsy announced that its board has authorized a stock repurchase plan on Friday, November 17th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the specialty retailer to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
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Etsy, Inc (Etsy) operates a marketplace where people around the world connect, both online and offline, to make, sell and buy goods. The Company offers a range of seller services and tools that help entrepreneurs start, grow and manage their businesses. The Company’s community includes Etsy sellers, Etsy buyers, Etsy employees, its partners and investors.
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