Etsy, Inc. (ETSY) Expected to Post Quarterly Sales of $104.59 Million
Wall Street analysts expect that Etsy, Inc. (NASDAQ:ETSY) will report $104.59 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Etsy’s earnings, with the lowest sales estimate coming in at $104.30 million and the highest estimate coming in at $105.01 million. Etsy reported sales of $87.56 million during the same quarter last year, which indicates a positive year-over-year growth rate of 19.4%. The business is scheduled to issue its next quarterly earnings report on Tuesday, November 7th.
On average, analysts expect that Etsy will report full year sales of $104.59 million for the current fiscal year, with estimates ranging from $434.00 million to $439.40 million. For the next financial year, analysts forecast that the company will post sales of $512.92 million per share, with estimates ranging from $499.56 million to $520.40 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Etsy.
Etsy (NASDAQ:ETSY) last announced its earnings results on Thursday, August 3rd. The specialty retailer reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.06. The firm had revenue of $101.70 million for the quarter, compared to analyst estimates of $101.14 million. Etsy had a negative net margin of 3.16% and a positive return on equity of 3.83%. The company’s revenue for the quarter was up 19.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.06) EPS.
Several research analysts recently commented on ETSY shares. BidaskClub raised shares of Etsy from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 27th. DA Davidson started coverage on shares of Etsy in a research note on Wednesday, September 6th. They issued a “buy” rating and a $18.00 price target on the stock. Morgan Stanley reaffirmed an “equal weight” rating and issued a $13.50 price target (up previously from $9.50) on shares of Etsy in a research note on Thursday, July 20th. Zacks Investment Research downgraded shares of Etsy from a “buy” rating to a “hold” rating in a research note on Wednesday, September 13th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and issued a $12.00 price target on shares of Etsy in a research note on Friday, June 30th. Ten analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $15.00.
In other Etsy news, CEO Josh Silverman bought 64,000 shares of the company’s stock in a transaction on Tuesday, August 8th. The shares were bought at an average cost of $15.67 per share, for a total transaction of $1,002,880.00. Following the acquisition, the chief executive officer now directly owns 64,000 shares in the company, valued at $1,002,880. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.00% of the stock is owned by corporate insiders.
A number of institutional investors have recently modified their holdings of ETSY. Janus Henderson Group PLC bought a new position in Etsy during the 2nd quarter worth about $95,291,000. TPG Group Holdings SBS Advisors Inc. grew its holdings in Etsy by 2,287.5% during the 2nd quarter. TPG Group Holdings SBS Advisors Inc. now owns 5,003,888 shares of the specialty retailer’s stock worth $75,058,000 after acquiring an additional 4,794,297 shares in the last quarter. Janus Capital Management LLC grew its holdings in Etsy by 38.4% during the 1st quarter. Janus Capital Management LLC now owns 6,222,005 shares of the specialty retailer’s stock worth $66,140,000 after acquiring an additional 1,726,152 shares in the last quarter. Southpoint Capital Advisors LP bought a new position in Etsy during the 2nd quarter worth about $16,650,000. Finally, Point72 Asset Management L.P. grew its holdings in Etsy by 204.5% during the 1st quarter. Point72 Asset Management L.P. now owns 1,141,948 shares of the specialty retailer’s stock worth $12,139,000 after acquiring an additional 766,948 shares in the last quarter. Institutional investors own 73.03% of the company’s stock.
Shares of Etsy (NASDAQ:ETSY) opened at 16.38 on Friday. Etsy has a 52 week low of $9.41 and a 52 week high of $17.90. The stock’s 50 day moving average is $16.81 and its 200-day moving average is $14.37. The company’s market cap is $1.82 billion.
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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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