Etsy, Inc. (NASDAQ:ETSY) – Investment analysts at Jefferies Financial Group reduced their Q3 2021 earnings per share (EPS) estimates for shares of Etsy in a report released on Wednesday, June 9th. Jefferies Financial Group analyst J. Colantuoni now forecasts that the specialty retailer will earn $0.57 per share for the quarter, down from their previous forecast of $0.60. Jefferies Financial Group has a “Buy” rating and a $245.00 price objective on the stock. Jefferies Financial Group also issued estimates for Etsy’s Q4 2021 earnings at $0.86 EPS, FY2021 earnings at $3.02 EPS, Q3 2022 earnings at $0.80 EPS and Q4 2022 earnings at $1.18 EPS.
A number of other analysts have also weighed in on the company. The Goldman Sachs Group increased their target price on Etsy from $178.00 to $286.00 and gave the stock a “buy” rating in a research note on Friday, February 26th. Citigroup reduced their target price on Etsy from $260.00 to $245.00 in a research note on Monday, May 10th. Roth Capital increased their target price on Etsy from $235.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, February 26th. Oppenheimer reduced their target price on Etsy from $240.00 to $200.00 and set an “outperform” rating on the stock in a research note on Thursday, May 6th. Finally, Needham & Company LLC increased their price target on Etsy from $155.00 to $235.00 and gave the stock a “buy” rating in a research report on Friday, February 26th. Two investment analysts have rated the stock with a sell rating and eighteen have given a buy rating to the company’s stock. Etsy currently has an average rating of “Buy” and a consensus target price of $218.08.
Etsy (NASDAQ:ETSY) last released its quarterly earnings results on Wednesday, May 5th. The specialty retailer reported $1.00 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.84 by $0.16. Etsy had a return on equity of 73.44% and a net margin of 23.46%.
In other news, CAO Merilee Buckley sold 908 shares of the firm’s stock in a transaction dated Monday, April 5th. The stock was sold at an average price of $198.26, for a total value of $180,020.08. Following the completion of the transaction, the chief accounting officer now directly owns 2,436 shares in the company, valued at $482,961.36. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Goyal Kruti Patel sold 6,800 shares of the firm’s stock in a transaction dated Thursday, April 1st. The stock was sold at an average price of $207.70, for a total value of $1,412,360.00. Following the completion of the transaction, the insider now owns 38,408 shares of the company’s stock, valued at $7,977,341.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 70,878 shares of company stock valued at $14,094,036. Company insiders own 3.30% of the company’s stock.
A number of hedge funds have recently made changes to their positions in ETSY. Credit Agricole S A purchased a new position in Etsy during the fourth quarter valued at approximately $25,000. Salem Investment Counselors Inc. purchased a new position in Etsy during the fourth quarter valued at approximately $27,000. Jackson Grant Investment Advisers Inc. acquired a new stake in Etsy in the fourth quarter valued at approximately $27,000. Harbour Investments Inc. acquired a new stake in Etsy in the first quarter valued at approximately $28,000. Finally, Associated Banc Corp grew its holdings in Etsy by 450.0% in the fourth quarter. Associated Banc Corp now owns 165 shares of the specialty retailer’s stock valued at $29,000 after purchasing an additional 135 shares during the period. Institutional investors own 82.65% of the company’s stock.
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 online market places include Etsy.com and Reverb.com. The company offers approximately 85 million items in its various retail categories to buyers.
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