Q3 2016 Earnings Estimate for Etsy Inc. Issued By Wedbush (ETSY)
Etsy Inc. (NASDAQ:ETSY) – Research analysts at Wedbush issued their Q3 2016 earnings per share (EPS) estimates for Etsy in a research report issued on Thursday. Wedbush analyst A. Turner forecasts that the firm will earn ($0.02) per share for the quarter. Wedbush currently has a “Neutral” rating and a $15.00 target price on the stock. Wedbush also issued estimates for Etsy’s Q4 2016 earnings at $0.00 EPS, FY2016 earnings at ($0.07) EPS, Q1 2017 earnings at ($0.01) EPS, Q2 2017 earnings at $0.00 EPS, Q3 2017 earnings at $0.01 EPS, Q4 2017 earnings at $0.06 EPS and FY2017 earnings at $0.07 EPS.
Several other brokerages have also commented on ETSY. Morgan Stanley dropped their price target on shares of Etsy from $11.50 to $9.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 3rd. Zacks Investment Research lowered shares of Etsy from a “buy” rating to a “hold” rating in a research note on Tuesday, October 4th. Citigroup Inc. raised their price target on shares of Etsy from $16.00 to $20.00 and gave the company a “buy” rating in a research note on Friday, October 7th. Goldman Sachs Group Inc. raised their price target on shares of Etsy from $11.00 to $14.00 and gave the company a “neutral” rating in a research note on Wednesday, August 3rd. Finally, Loop Capital assumed coverage on shares of Etsy in a report on Tuesday, September 13th. They issued a “hold” rating and a $14.00 price objective for the company. Ten investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $14.73.
Etsy (NASDAQ:ETSY) opened at 14.48 on Monday. The firm’s market capitalization is $1.61 billion. Etsy has a one year low of $6.04 and a one year high of $16.05. The firm has a 50-day moving average price of $14.35 and a 200 day moving average price of $11.06.
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Etsy (NASDAQ:ETSY) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported ($0.06) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by $0.05. The business earned $85.35 million during the quarter, compared to analyst estimates of $80.55 million. Etsy had a negative net margin of 5.37% and a negative return on equity of 3.08%. The company’s revenue was up 38.9% on a year-over-year basis. During the same quarter last year, the firm posted ($0.07) earnings per share.
In related news, insider John Allspaw sold 63,468 shares of the firm’s stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $12.50, for a total value of $793,350.00. Following the completion of the transaction, the insider now owns 66,864 shares of the company’s stock, valued at approximately $835,800. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Chad Dickerson sold 105,289 shares of the firm’s stock in a transaction that occurred on Monday, October 10th. The stock was sold at an average price of $16.00, for a total transaction of $1,684,624.00. Following the completion of the transaction, the chief executive officer now directly owns 857,645 shares of the company’s stock, valued at approximately $13,722,320. The disclosure for this sale can be found here. 11.10% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of ETSY. Vanguard Group Inc. raised its position in Etsy by 28.7% in the second quarter. Vanguard Group Inc. now owns 5,425,487 shares of the company’s stock worth $52,031,000 after buying an additional 1,210,862 shares in the last quarter. BlackRock Fund Advisors raised its position in Etsy by 401.1% in the second quarter. BlackRock Fund Advisors now owns 2,462,098 shares of the company’s stock worth $23,612,000 after buying an additional 1,970,739 shares in the last quarter. State Street Corp raised its position in Etsy by 416.3% in the second quarter. State Street Corp now owns 1,496,378 shares of the company’s stock worth $14,350,000 after buying an additional 1,206,570 shares in the last quarter. Point72 Asset Management L.P. raised its position in Etsy by 67.8% in the second quarter. Point72 Asset Management L.P. now owns 1,494,500 shares of the company’s stock worth $14,332,000 after buying an additional 603,700 shares in the last quarter. Finally, Lord Abbett & CO. LLC raised its position in Etsy by 396.8% in the second quarter. Lord Abbett & CO. LLC now owns 1,327,915 shares of the company’s stock worth $12,735,000 after buying an additional 1,060,646 shares in the last quarter. 58.14% of the stock is owned by hedge funds and other institutional investors.
Etsy, Inc (Etsy) operates a marketplace to connect people around the both online and offline for making, selling and buying goods. The Company’s geographical segments include United States and International. The Company’s community includes Etsy sellers, Etsy buyers, wholesale partners, manufacturers and Etsy employees.
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