Etsy (NYSE:ETSY) Trading Up 6.6% on Better-Than-Expected Earnings

Shares of Etsy Inc (NYSE:ETSY) traded up 6.6% on Friday following a better than expected earnings announcement. The stock traded as high as $51.84 and last traded at $51.34. 3,186,203 shares were traded during trading, a decline of 20% from the average session volume of 3,987,784 shares. The stock had previously closed at $48.14.

The company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.04. Etsy had a negative return on equity of 24.94% and a net margin of 5.65%.The firm had revenue of $881.64 million for the quarter.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ETSY. Weiss Ratings reiterated a “hold (c)” rating on shares of Etsy in a research report on Monday, December 29th. Citigroup upgraded shares of Etsy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 30th. Barclays raised shares of Etsy from a “hold” rating to a “strong-buy” rating in a report on Thursday. Wall Street Zen upgraded shares of Etsy from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, BNP Paribas Exane raised shares of Etsy to a “hold” rating in a report on Monday, November 24th. Two analysts have rated the stock with a Strong Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy”.

Etsy Stock Performance

The stock’s 50 day moving average is $55.66. The stock has a market capitalization of $5.16 billion, a P/E ratio of 39.92, a PEG ratio of 6.03 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.