Etsy (NASDAQ:ETSY) Posts Earnings Results, Misses Estimates By $0.01 EPS

Etsy (NASDAQ:ETSY) released its quarterly earnings results on Wednesday. The specialty retailer reported $0.48 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.01), Briefing.com reports. The company had revenue of $646.00 million during the quarter, compared to the consensus estimate of $646.30 million. Etsy had a negative return on equity of 70.75% and a net margin of 11.19%. The company’s revenue was up .8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.53 earnings per share.

Etsy Stock Down 15.1 %

Shares of ETSY traded down $10.50 during trading on Thursday, reaching $59.24. 19,852,350 shares of the company traded hands, compared to its average volume of 3,867,854. The stock has a 50-day simple moving average of $68.28 and a 200-day simple moving average of $71.65. The stock has a market cap of $6.93 billion, a PE ratio of 26.35, a price-to-earnings-growth ratio of 4.81 and a beta of 2.00. Etsy has a twelve month low of $56.60 and a twelve month high of $102.81.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Piper Sandler raised their price objective on Etsy from $90.00 to $103.00 and gave the stock an “overweight” rating in a research report on Thursday, February 22nd. Guggenheim dropped their price target on Etsy from $95.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday. Citigroup decreased their price objective on shares of Etsy from $72.00 to $62.00 and set a “neutral” rating for the company in a research report on Thursday. JMP Securities lowered shares of Etsy from an “outperform” rating to a “market perform” rating in a research note on Thursday. Finally, Barclays lowered their price objective on shares of Etsy from $67.00 to $60.00 and set an “equal weight” rating for the company in a research note on Thursday. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $79.96.

Insider Transactions at Etsy

In other Etsy news, CAO Merilee Buckley sold 1,671 shares of the business’s stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $65.04, for a total value of $108,681.84. Following the sale, the chief accounting officer now owns 2,827 shares of the company’s stock, valued at $183,868.08. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Etsy news, insider Nicholas Daniel sold 1,500 shares of the business’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $71.82, for a total transaction of $107,730.00. Following the sale, the insider now directly owns 13,138 shares in the company, valued at $943,571.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Merilee Buckley sold 1,671 shares of the firm’s stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $65.04, for a total transaction of $108,681.84. Following the completion of the transaction, the chief accounting officer now directly owns 2,827 shares of the company’s stock, valued at approximately $183,868.08. The disclosure for this sale can be found here. In the last three months, insiders have sold 66,968 shares of company stock worth $4,836,827. 2.60% of the stock is currently owned by insiders.

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.