Analysts Anticipate Etsy, Inc. (NASDAQ:ETSY) Will Post Quarterly Sales of $517.74 Million

Equities research analysts expect Etsy, Inc. (NASDAQ:ETSY) to post $517.74 million in sales for the current quarter, Zacks reports. Six analysts have provided estimates for Etsy’s earnings. The highest sales estimate is $520.00 million and the lowest is $515.09 million. Etsy posted sales of $451.48 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 14.7%. The company is expected to report its next quarterly earnings results on Wednesday, October 27th.

According to Zacks, analysts expect that Etsy will report full-year sales of $2.27 billion for the current financial year, with estimates ranging from $2.23 billion to $2.29 billion. For the next financial year, analysts anticipate that the company will post sales of $2.71 billion, with estimates ranging from $2.58 billion to $2.87 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Etsy.

Etsy (NASDAQ:ETSY) last issued its quarterly earnings data on Wednesday, August 4th. The specialty retailer reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. The business had revenue of $528.90 million for the quarter, compared to the consensus estimate of $525.70 million. Etsy had a return on equity of 73.54% and a net margin of 22.45%. The company’s quarterly revenue was up 23.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.75 earnings per share.

A number of research analysts have issued reports on ETSY shares. Jefferies Financial Group dropped their target price on shares of Etsy from $260.00 to $245.00 and set a “buy” rating for the company in a report on Wednesday, June 9th. Needham & Company LLC restated a “buy” rating and set a $250.00 price target on shares of Etsy in a research report on Monday, August 2nd. BTIG Research reaffirmed a “buy” rating and set a $215.00 price objective on shares of Etsy in a research report on Tuesday, June 29th. Morgan Stanley upgraded shares of Etsy from an “underweight” rating to an “equal weight” rating and set a $163.00 target price for the company in a research note on Thursday, August 5th. Finally, Atlantic Securities assumed coverage on shares of Etsy in a research note on Monday, June 7th. They issued an “overweight” rating and a $200.00 target price on the stock. Three research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $223.64.

In other Etsy news, CMO Ryan M. Scott sold 990 shares of Etsy stock in a transaction on Tuesday, July 6th. The shares were sold at an average price of $196.40, for a total value of $194,436.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CMO Ryan M. Scott sold 4,922 shares of Etsy stock in a transaction on Friday, July 2nd. The shares were sold at an average price of $197.49, for a total transaction of $972,045.78. The disclosure for this sale can be found here. Insiders sold 37,400 shares of company stock worth $7,455,878 over the last quarter. Company insiders own 3.30% of the company’s stock.

Hedge funds have recently made changes to their positions in the business. Corsicana & Co. acquired a new position in Etsy during the 2nd quarter worth $25,000. Harbour Investments Inc. acquired a new position in shares of Etsy in the 1st quarter valued at about $28,000. Allred Capital Management LLC acquired a new position in shares of Etsy in the 1st quarter valued at about $32,000. BerganKDV Wealth Management LLC boosted its holdings in shares of Etsy by 100.0% in the 2nd quarter. BerganKDV Wealth Management LLC now owns 200 shares of the specialty retailer’s stock valued at $41,000 after buying an additional 100 shares during the period. Finally, E Fund Management Co. Ltd. acquired a new position in shares of Etsy in the 1st quarter valued at about $45,000. 87.30% of the stock is owned by institutional investors.

Shares of ETSY stock traded up $3.61 during trading on Friday, hitting $217.92. 86,591 shares of the stock traded hands, compared to its average volume of 3,046,717. Etsy has a 52-week low of $104.30 and a 52-week high of $251.86. The firm’s fifty day moving average price is $199.58 and its 200-day moving average price is $194.76. The company has a debt-to-equity ratio of 4.36, a current ratio of 6.61 and a quick ratio of 6.61. The firm has a market capitalization of $27.58 billion, a P/E ratio of 62.94, a price-to-earnings-growth ratio of 3.71 and a beta of 1.62.

Etsy Company Profile

Etsy, Inc engages in the operation of online marketplace. It offers handmade products such as shoes, clothing, bags, and accessories. It operates through the following geographical segments: United States, United Kingdom, and Other International. The company was founded by Haim Schoppik, Robert Kalin, Jared Tarbell, and Christopher Maguires in 2005 and is headquartered in New York, NY.

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Earnings History and Estimates for Etsy (NASDAQ:ETSY)

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