What is B. Riley’s Forecast for Etsy FY2024 Earnings?

Etsy, Inc. (NASDAQ:ETSY) – Stock analysts at B. Riley decreased their FY2024 earnings per share estimates for Etsy in a report released on Thursday, October 31st. B. Riley analyst N. Khan now forecasts that the specialty retailer will post earnings per share of $2.23 for the year, down from their previous forecast of $2.37. The consensus estimate for Etsy’s current full-year earnings is $2.37 per share. B. Riley also issued estimates for Etsy’s Q4 2024 earnings at $0.99 EPS, Q1 2025 earnings at $0.45 EPS, Q2 2025 earnings at $0.54 EPS, Q3 2025 earnings at $0.50 EPS and Q4 2025 earnings at $1.04 EPS.

A number of other equities analysts also recently issued reports on ETSY. Wolfe Research began coverage on Etsy in a research report on Tuesday, July 16th. They set a “peer perform” rating for the company. Loop Capital lowered their target price on 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 Etsy to a “strong-buy” rating in a report on Thursday, August 1st. Needham & Company LLC reissued a “buy” rating and issued a $60.00 price objective on shares of Etsy in a research note on Thursday. Finally, The Goldman Sachs Group cut Etsy from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $70.00 to $45.00 in a research note on Tuesday, October 15th. Four investment analysts have rated the stock with a sell rating, twelve have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $65.65.

Etsy Trading Up 7.2 %

Etsy stock opened at $51.44 on Friday. Etsy has a 12 month low of $47.10 and a 12 month high of $89.58. The company has a market capitalization of $5.90 billion, a PE ratio of 26.24, a P/E/G ratio of 5.39 and a beta of 1.97. The stock has a 50-day moving average price of $52.70 and a two-hundred day moving average price of $58.30.

Etsy (NASDAQ:ETSY) last posted its earnings results on Wednesday, October 30th. The specialty retailer reported $0.45 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.09). The firm had revenue of $662.40 million during the quarter, compared to the consensus estimate of $652.47 million. Etsy had a net margin of 9.17% and a negative return on equity of 47.52%. Etsy’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.64 earnings per share.

Hedge Funds Weigh In On Etsy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in Etsy by 0.7% during the first quarter. Vanguard Group Inc. now owns 13,528,736 shares of the specialty retailer’s stock worth $929,695,000 after buying an additional 91,900 shares in the last quarter. Van ECK Associates Corp boosted its holdings in shares of Etsy by 14.3% in the 2nd quarter. Van ECK Associates Corp now owns 5,764,064 shares of the specialty retailer’s stock worth $339,964,000 after purchasing an additional 721,454 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Etsy by 21.1% in the 2nd quarter. Renaissance Technologies LLC now owns 4,215,370 shares of the specialty retailer’s stock worth $248,623,000 after purchasing an additional 734,200 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in shares of Etsy by 52.3% in the 2nd quarter. Pacer Advisors Inc. now owns 2,100,284 shares of the specialty retailer’s stock worth $123,875,000 after purchasing an additional 721,453 shares in the last quarter. Finally, TD Asset Management Inc boosted its holdings in shares of Etsy by 16.8% in the 1st quarter. TD Asset Management Inc now owns 1,540,465 shares of the specialty retailer’s stock worth $105,861,000 after purchasing an additional 221,275 shares in the last quarter. 99.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Etsy

In related news, CAO Merilee Buckley sold 1,676 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 transaction of $85,660.36. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Toni Thompson Nadal sold 1,443 shares of the business’s stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $51.11, for a total transaction of $73,751.73. Following the completion of the transaction, the insider now directly owns 592 shares in the company, valued at $30,257.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Merilee Buckley sold 1,676 shares of the business’s stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $51.11, for a total value of $85,660.36. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,619 shares of company stock worth $240,825. 2.60% of the stock is owned by company insiders.

Etsy declared that its board has initiated a share repurchase program on Wednesday, October 30th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the specialty retailer to repurchase up to 17.8% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s management believes its shares are 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.