What is Wedbush’s Estimate for Etsy FY2024 Earnings?

Etsy, Inc. (NASDAQ:ETSY) – Investment analysts at Wedbush decreased their FY2024 earnings per share estimates for shares of Etsy in a research report issued on Thursday, October 31st. Wedbush analyst S. Devitt now forecasts that the specialty retailer will post earnings of $2.22 per share for the year, down from their prior estimate of $2.28. Wedbush has a “Hold” rating on the stock. The consensus estimate for Etsy’s current full-year earnings is $2.27 per share. Wedbush also issued estimates for Etsy’s Q4 2024 earnings at $0.93 EPS, Q1 2025 earnings at $0.51 EPS, Q3 2025 earnings at $0.65 EPS, FY2025 earnings at $2.69 EPS and FY2026 earnings at $2.99 EPS.

A number of other equities analysts have also recently commented on the company. Wells Fargo & Company dropped their target price on Etsy from $47.00 to $44.00 and set an “underweight” rating for the company in a report on Friday, November 1st. Piper Sandler reiterated a “neutral” rating and set a $56.00 price objective on shares of Etsy in a research report on Friday, August 23rd. Loop Capital lowered their target price on shares of Etsy from $50.00 to $45.00 and set a “sell” rating for the company in a report on Monday, August 12th. Evercore ISI upgraded shares of Etsy to a “strong-buy” rating in a report on Thursday, August 1st. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Etsy from $48.00 to $50.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. Four equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Etsy currently has a consensus rating of “Hold” and a consensus target price of $64.87.

Etsy Stock Up 0.9 %

ETSY stock opened at $52.73 on Monday. Etsy has a 52 week low of $47.10 and a 52 week high of $89.58. The firm has a market capitalization of $6.05 billion, a P/E ratio of 26.90, a price-to-earnings-growth ratio of 6.19 and a beta of 1.99. The company has a fifty day simple moving average of $52.54 and a two-hundred day simple moving average of $57.91.

Etsy (NASDAQ:ETSY) last announced its quarterly earnings results on Wednesday, October 30th. The specialty retailer reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.09). Etsy had a net margin of 9.17% and a negative return on equity of 46.79%. The firm had revenue of $662.40 million for the quarter, compared to the consensus estimate of $652.47 million. During the same period in the previous year, the company posted $0.64 earnings per share. Etsy’s quarterly revenue was up 4.1% on a year-over-year basis.

Institutional Investors Weigh In On Etsy

Large investors have recently modified their holdings of the stock. Blue Trust Inc. increased its position in shares of Etsy by 106.5% in the 3rd quarter. Blue Trust Inc. now owns 448 shares of the specialty retailer’s stock worth $26,000 after purchasing an additional 231 shares during the last quarter. UMB Bank n.a. lifted its holdings in Etsy by 112.3% during the 3rd quarter. UMB Bank n.a. now owns 552 shares of the specialty retailer’s stock worth $31,000 after buying an additional 292 shares during the last quarter. Larson Financial Group LLC raised its position in shares of Etsy by 1,576.5% during the 1st quarter. Larson Financial Group LLC now owns 570 shares of the specialty retailer’s stock valued at $39,000 after acquiring an additional 536 shares in the last quarter. 1620 Investment Advisors Inc. bought a new position in Etsy during the second quarter worth $42,000. Finally, Capital Performance Advisors LLP acquired a new position in Etsy in the third quarter worth $43,000. Institutional investors and hedge funds own 99.53% of the company’s stock.

Insider Activity at Etsy

In other news, insider Nicholas Daniel sold 750 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $55.40, for a total value of $41,550.00. Following the completion of the transaction, the insider now owns 18,083 shares in the company, valued at $1,001,798.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Etsy news, insider Toni Thompson Nadal sold 1,443 shares of the business’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $51.11, for a total value of $73,751.73. Following the completion of the transaction, the insider now directly owns 592 shares in the company, valued at approximately $30,257.12. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Nicholas Daniel sold 750 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $55.40, for a total value of $41,550.00. Following the completion of the transaction, the insider now owns 18,083 shares of the company’s stock, valued at $1,001,798.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,369 shares of company stock worth $280,200 over the last 90 days. Company insiders own 2.60% of the company’s stock.

Etsy declared that its board has initiated a share buyback plan on Wednesday, October 30th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the specialty retailer to reacquire up to 17.8% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

About Etsy

Etsy, Inc, together with its subsidiaries, operates two-sided online marketplaces that connect buyers and sellers in the United States, the United Kingdom, Germany, Canada, Australia, and France. 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.