What is Wedbush’s Forecast for Etsy Q3 Earnings?

Etsy, Inc. (NASDAQ:ETSY) – Wedbush issued their Q3 2024 earnings estimates for Etsy in a report issued on Monday, October 21st. Wedbush analyst S. Devitt forecasts that the specialty retailer will post earnings of $0.51 per share for the quarter. Wedbush currently has a “Hold” rating on the stock. The consensus estimate for Etsy’s current full-year earnings is $2.38 per share. Wedbush also issued estimates for Etsy’s Q4 2024 earnings at $0.91 EPS, FY2024 earnings at $2.28 EPS, Q1 2025 earnings at $0.52 EPS, Q2 2025 earnings at $0.53 EPS, Q3 2025 earnings at $0.59 EPS, Q4 2025 earnings at $1.00 EPS, FY2025 earnings at $2.63 EPS and FY2026 earnings at $2.94 EPS.

Etsy (NASDAQ:ETSY) last released its earnings results on Wednesday, July 31st. The specialty retailer reported $0.41 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.05). The company had revenue of $647.80 million during the quarter, compared to analysts’ expectations of $629.87 million. Etsy had a negative return on equity of 51.94% and a net margin of 10.36%. Etsy’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period last year, the firm posted $0.83 EPS.

Other equities research analysts also recently issued research reports about the stock. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $50.00 price target on shares of Etsy in a research note on Monday, October 7th. Needham & Company LLC reaffirmed a “buy” rating and set a $60.00 price target on shares of Etsy in a research note on Wednesday. Loop Capital decreased their price target on shares of Etsy from $50.00 to $45.00 and set a “sell” rating on the stock in a research note on Monday, August 12th. Wells Fargo & Company decreased their price target on shares of Etsy from $58.00 to $47.00 and set an “underweight” rating on the stock in a research note on Thursday, October 3rd. Finally, Evercore ISI upgraded shares of Etsy to a “strong-buy” rating in a research report on Thursday, August 1st. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $67.23.

Etsy Stock Up 0.6 %

Etsy stock opened at $49.64 on Thursday. The company has a market cap of $5.80 billion, a price-to-earnings ratio of 22.67, a PEG ratio of 4.99 and a beta of 1.97. The firm’s fifty day moving average is $53.30 and its 200 day moving average is $58.97. Etsy has a 52-week low of $48.07 and a 52-week high of $89.58.

Institutional Trading of Etsy

A number of hedge funds have recently bought and sold shares of the stock. Louisiana State Employees Retirement System lifted its holdings in Etsy by 740.9% during the third quarter. Louisiana State Employees Retirement System now owns 55,500 shares of the specialty retailer’s stock worth $3,082,000 after buying an additional 48,900 shares during the period. DORCHESTER WEALTH MANAGEMENT Co acquired a new position in shares of Etsy during the third quarter worth $214,000. International Assets Investment Management LLC acquired a new position in shares of Etsy during the third quarter worth $1,233,000. Lecap Asset Management Ltd. increased its position in shares of Etsy by 75.2% during the third quarter. Lecap Asset Management Ltd. now owns 17,859 shares of the specialty retailer’s stock worth $992,000 after purchasing an additional 7,664 shares in the last quarter. Finally, Everence Capital Management Inc. acquired a new position in shares of Etsy during the third quarter worth $834,000. Hedge funds and other institutional investors own 99.53% of the company’s stock.

Insider Activity at Etsy

In related news, CAO Merilee Buckley sold 1,676 shares of the business’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $51.11, for a total value of $85,660.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Etsy news, insider Toni Thompson Nadal sold 1,443 shares of the company’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 $73,751.73. Following the completion of the sale, the insider now owns 592 shares in the company, valued at $30,257.12. This represents 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 at the SEC website. Also, CAO Merilee Buckley sold 1,676 shares of the company’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 $85,660.36. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,619 shares of company stock worth $300,670. Company insiders own 2.60% of the company’s stock.

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.