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

Etsy (NASDAQ:ETSY) issued its quarterly earnings results on Wednesday. The specialty retailer reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.01), Briefing.com reports. The business had revenue of $646.00 million for the quarter, compared to the consensus estimate of $646.30 million. Etsy had a negative return on equity of 70.75% and a net margin of 11.19%. The business’s revenue was up .8% compared to the same quarter last year. During the same quarter last year, the business posted $0.53 earnings per share.

Etsy Trading Down 15.1 %

ETSY stock traded down $10.50 during midday trading on Thursday, hitting $59.24. The company had a trading volume of 19,852,350 shares, compared to its average volume of 3,867,854. The stock has a market cap of $6.93 billion, a price-to-earnings ratio of 26.35, a PEG ratio of 4.81 and a beta of 2.00. Etsy has a 52 week low of $56.60 and a 52 week high of $102.81. The stock’s 50 day moving average price is $68.28 and its 200 day moving average price is $71.65.

Insider Buying and Selling

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

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Needham & Company LLC reduced their price target on shares of Etsy from $95.00 to $75.00 and set a “buy” rating for the company in a research report on Thursday. B. Riley reduced their target price on shares of Etsy from $91.00 to $83.00 and set a “buy” rating for the company in a research report on Thursday. BTIG Research lowered their price target on shares of Etsy from $87.00 to $78.00 and set a “buy” rating on the stock in a report on Thursday. Guggenheim reduced their price objective on Etsy from $95.00 to $80.00 and set a “buy” rating for the company in a report on Thursday. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on Etsy from $80.00 to $65.00 and set a “hold” rating on the stock in a research note on Wednesday, April 10th. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, Etsy has a consensus rating of “Hold” and an average target price of $79.96.

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.