$132.52 Million in Sales Expected for Etsy, Inc. (ETSY) This Quarter
Wall Street brokerages expect that Etsy, Inc. (NASDAQ:ETSY) will post sales of $132.52 million for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Etsy’s earnings, with the highest sales estimate coming in at $132.75 million and the lowest estimate coming in at $132.39 million. Etsy reported sales of $110.21 million during the same quarter last year, which indicates a positive year over year growth rate of 20.2%. The business is expected to issue its next quarterly earnings results on Tuesday, February 27th.
According to Zacks, analysts expect that Etsy will report full year sales of $132.52 million for the current year, with estimates ranging from $436.80 million to $437.71 million. For the next fiscal year, analysts anticipate that the business will report sales of $516.17 million per share, with estimates ranging from $506.92 million to $521.10 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover Etsy.
ETSY has been the subject of a number of research analyst reports. Morgan Stanley restated an “equal weight” rating and set a $13.50 price objective (up from $9.50) on shares of Etsy in a research report on Thursday, July 20th. BidaskClub cut shares of Etsy from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Roth Capital set a $14.00 price objective on shares of Etsy and gave the stock a “hold” rating in a research report on Monday, July 31st. Royal Bank Of Canada upped their price objective on shares of Etsy from $12.00 to $16.00 and gave the stock a “sector perform” rating in a research report on Friday, August 4th. Finally, Stifel Nicolaus increased their target price on shares of Etsy from $13.00 to $15.00 and gave the company a “hold” rating in a research report on Friday, August 4th. Eleven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $15.69.
In related news, Director Frederick R. Wilson sold 87,938 shares of the firm’s stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $16.24, for a total transaction 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 document filed with the SEC, which is available through the SEC website. 4.00% of the stock is currently owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada increased its position in Etsy by 30.3% during the second quarter. Royal Bank of Canada now owns 8,812 shares of the specialty retailer’s stock worth $133,000 after purchasing an additional 2,049 shares during the last quarter. UBS Group AG boosted its stake in Etsy by 30.7% during the first quarter. UBS Group AG now owns 10,091 shares of the specialty retailer’s stock worth $108,000 after buying an additional 2,373 shares during the period. Ameritas Investment Partners Inc. boosted its stake in Etsy by 12.0% during the second quarter. Ameritas Investment Partners Inc. now owns 10,160 shares of the specialty retailer’s stock worth $152,000 after buying an additional 1,092 shares during the period. Trexquant Investment LP purchased a new position in Etsy during the third quarter worth about $192,000. Finally, Rehmann Capital Advisory Group purchased a new position in Etsy during the third quarter worth about $211,000. Hedge funds and other institutional investors own 75.25% of the company’s stock.
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Etsy (NASDAQ:ETSY) traded down $0.07 during trading hours on Friday, reaching $16.65. 995,200 shares of the company’s stock were exchanged, compared to its average volume of 1,915,337. The company has a debt-to-equity ratio of 0.19, a current ratio of 4.26 and a quick ratio of 4.26. The firm has a market capitalization of $2,035.06, a PE ratio of 66.88, a PEG ratio of 2.57 and a beta of 1.19. Etsy has a 52 week low of $9.41 and a 52 week high of $17.90.
Etsy Company Profile
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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