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

Etsy, Inc. (NASDAQ:ETSY) – Equities researchers at B. Riley dropped their FY2024 EPS estimates for Etsy in a note issued to investors 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 estimate 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.

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

ETSY has been the topic of several other research reports. Barclays lowered their price objective on shares of Etsy from $60.00 to $55.00 and set an “equal weight” rating on the stock in a research note on Thursday. Bank of America cut their price objective on Etsy from $61.00 to $58.00 and set a “neutral” rating for the company in a report on Thursday, October 24th. Evercore ISI raised Etsy to a “strong-buy” rating in a report on Thursday, August 1st. Loop Capital cut their price target on Etsy from $50.00 to $45.00 and set a “sell” rating for the company in a report on Monday, August 12th. Finally, Oppenheimer cut Etsy from an “outperform” rating to a “market perform” rating in a report on Thursday, August 1st. Four investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $65.65.

Etsy Stock Up 7.2 %

NASDAQ:ETSY opened at $51.44 on Friday. The company’s 50 day moving average is $52.70 and its 200-day moving average is $58.30. The firm has a market cap of $5.90 billion, a price-to-earnings ratio of 26.24, a P/E/G ratio of 5.39 and a beta of 1.97. Etsy has a 12 month low of $47.10 and a 12 month high of $89.58.

Etsy declared that its Board of Directors has approved a share repurchase plan on Wednesday, October 30th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the specialty retailer to purchase up to 17.8% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other Etsy news, insider Toni Thompson Nadal sold 1,443 shares of the company’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 transaction of $73,751.73. Following the completion of the transaction, the insider now owns 592 shares of the company’s stock, valued at $30,257.12. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Etsy news, insider Nicholas Daniel sold 750 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $53.15, for a total transaction of $39,862.50. Following the completion of the transaction, the insider now owns 25,121 shares of the company’s stock, valued at $1,335,181.15. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Toni Thompson Nadal sold 1,443 shares of the company’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 $73,751.73. Following the sale, the insider now owns 592 shares in the company, valued at approximately $30,257.12. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,619 shares of company stock valued at $240,825 in the last quarter. 2.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Etsy

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Olympiad Research LP bought a new stake in shares of Etsy during the 3rd quarter worth approximately $364,000. Principal Financial Group Inc. raised its stake in shares of Etsy by 313.1% during the 3rd quarter. Principal Financial Group Inc. now owns 542,505 shares of the specialty retailer’s stock worth $30,125,000 after purchasing an additional 411,165 shares in the last quarter. Amalgamated Bank raised its stake in Etsy by 9.9% in the 3rd quarter. Amalgamated Bank now owns 37,176 shares of the specialty retailer’s stock valued at $2,064,000 after acquiring an additional 3,351 shares during the period. United Advisor Group LLC bought a new stake in Etsy in the 3rd quarter valued at $220,000. Finally, Moloney Securities Asset Management LLC bought a new stake in Etsy in the 3rd quarter valued at $1,134,000. Institutional investors own 99.53% of the company’s stock.

Etsy Company Profile

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.