$132.89 Million in Sales Expected for Etsy Inc (ETSY) This Quarter

Equities research analysts expect that Etsy Inc (NASDAQ:ETSY) will report $132.89 million in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for Etsy’s earnings, with the highest sales estimate coming in at $134.40 million and the lowest estimate coming in at $132.39 million. Etsy posted sales of $110.21 million in the same quarter last year, which suggests a positive year-over-year growth rate of 20.6%. The business is expected to issue its next quarterly earnings results on Tuesday, February 27th.

On average, analysts expect that Etsy will report full-year sales of $132.89 million for the current fiscal year, with estimates ranging from $437.30 million to $439.30 million. For the next year, analysts anticipate that the firm will post sales of $520.64 million per share, with estimates ranging from $506.92 million to $529.10 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Etsy.

Etsy (NASDAQ:ETSY) last posted its quarterly earnings data on Monday, November 6th. The specialty retailer reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.07. Etsy had a net margin of 3.77% and a return on equity of 9.19%.

A number of equities analysts recently commented on ETSY shares. Morgan Stanley lowered shares of Etsy from an “equal weight” rating to an “underweight” rating and set a $17.00 price objective for the company. in a research note on Friday, January 12th. KeyCorp started coverage on shares of Etsy in a research note on Wednesday, December 20th. They issued an “overweight” rating for the company. BidaskClub lowered shares of Etsy from a “buy” rating to a “hold” rating in a research note on Saturday, January 13th. Zacks Investment Research raised shares of Etsy from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a research note on Tuesday, January 9th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $18.00 target price (up previously from $16.00) on shares of Etsy in a research note on Thursday, November 2nd. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $16.19.

In other Etsy news, Director Frederick R. Wilson sold 87,938 shares of Etsy stock in a transaction on 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 owns 822,062 shares of the company’s stock, valued at approximately $13,350,286.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 4.00% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in ETSY. Principal Financial Group Inc. raised its holdings in shares of Etsy by 9.0% during the 2nd quarter. Principal Financial Group Inc. now owns 16,099 shares of the specialty retailer’s stock valued at $241,000 after purchasing an additional 1,330 shares in the last quarter. Teachers Advisors LLC raised its position in shares of Etsy by 3.4% in the 2nd quarter. Teachers Advisors LLC now owns 255,117 shares of the specialty retailer’s stock worth $3,827,000 after acquiring an additional 8,406 shares in the last quarter. Nationwide Fund Advisors increased its position in Etsy by 7.6% during the 2nd quarter. Nationwide Fund Advisors now owns 65,642 shares of the specialty retailer’s stock valued at $985,000 after buying an additional 4,635 shares in the last quarter. BlackRock Inc. increased its position in Etsy by 5.5% during the 2nd quarter. BlackRock Inc. now owns 6,701,573 shares of the specialty retailer’s stock valued at $100,523,000 after buying an additional 351,751 shares in the last quarter. Finally, Amalgamated Bank increased its position in Etsy by 14.9% during the 2nd quarter. Amalgamated Bank now owns 14,788 shares of the specialty retailer’s stock valued at $222,000 after buying an additional 1,920 shares in the last quarter. Institutional investors and hedge funds own 74.45% of the company’s stock.

Etsy (ETSY) opened at $18.71 on Wednesday. Etsy has a 52 week low of $9.41 and a 52 week high of $21.86. 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 company has a market cap of $2,244.41, a P/E ratio of 155.92, a P/E/G ratio of 3.61 and a beta of 0.92.

Etsy announced that its Board of Directors has initiated a share repurchase plan on Friday, November 17th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the specialty retailer to buy shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

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About Etsy

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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