Etsy (NYSE:ETSY) Shares Gap Up After Better-Than-Expected Earnings

Etsy Inc (NYSE:ETSY) shares gapped up before the market opened on Thursday after the company announced better than expected quarterly earnings. 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 changing hands.

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 during the quarter. Etsy had a net margin of 5.65% and a negative return on equity of 24.94%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Evercore lowered shares of Etsy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 30th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Etsy in a research note on Monday, December 29th. Citigroup raised Etsy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 30th. Zacks Research downgraded shares of Etsy from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 10th. Finally, BNP Paribas Exane upgraded shares of Etsy to a “hold” rating in a report on Monday, November 24th. One analyst has rated the stock with a Strong Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Etsy has a consensus rating of “Hold”.

Etsy Price Performance

The firm has a 50-day moving average of $55.66. The company has a market capitalization of $5.16 billion, a price-to-earnings ratio of 39.92, a price-to-earnings-growth ratio of 5.56 and a beta of 1.77.

Etsy Company Profile

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.