Etsy (NYSE:ETSY) Shares Gap Up Following Earnings Beat

Etsy Inc (NYSE:ETSY)’s stock price gapped up before the market opened on Thursday following a stronger than expected earnings report. The stock had previously closed at $44.05, but opened at $48.56. Etsy shares last traded at $48.32, with a volume of 4,719,849 shares.

The company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.04. The business had revenue of $881.64 million for the quarter. Etsy had a negative return on equity of 29.07% and a net margin of 6.38%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on ETSY shares. BNP Paribas Exane upgraded shares of Etsy to a “hold” rating in a research report on Monday, November 24th. Weiss Ratings reiterated a “hold (c)” rating on shares of Etsy in a report on Monday, December 29th. Wall Street Zen downgraded shares of Etsy from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. Citigroup raised Etsy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 30th. Finally, Evercore downgraded Etsy from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold”.

Etsy Trading Up 10.3%

The company has a market capitalization of $4.79 billion, a PE ratio of 34.20, a P/E/G ratio of 5.13 and a beta of 1.77. The firm’s 50 day moving average is $55.79.

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.