Etsy (NASDAQ:ETSY) Posts Earnings Results, Beats Expectations By $0.08 EPS

Etsy (NASDAQ:ETSY) posted its quarterly earnings results on Wednesday. The specialty retailer reported $1.03 EPS for the quarter, beating the consensus estimate of $0.95 by $0.08, RTT News reports. Etsy had a net margin of 9.17% and a negative return on equity of 46.79%. During the same period last year, the business earned $0.62 EPS.

Etsy Stock Performance

ETSY opened at $57.34 on Wednesday. Etsy has a one year low of $47.10 and a one year high of $78.65. The company has a market cap of $6.45 billion, a price-to-earnings ratio of 29.26, a PEG ratio of 2.83 and a beta of 2.00. The business’s fifty day moving average is $54.88 and its two-hundred day moving average is $53.84.

Etsy announced that its board has authorized a share repurchase program on Wednesday, October 30th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the specialty retailer to buy up to 17.8% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Etsy

In other Etsy news, insider Nicholas Daniel sold 1,500 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $55.34, for a total transaction of $83,010.00. Following the completion of the transaction, the insider now directly owns 22,198 shares in the company, valued at approximately $1,228,437.32. This trade represents a 6.33 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 2.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. JMP Securities reaffirmed a “market perform” rating on shares of Etsy in a report on Monday, December 16th. Barclays decreased their target price on Etsy from $60.00 to $55.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 31st. Wedbush lowered their price target on shares of Etsy from $65.00 to $58.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 22nd. Moffett Nathanson increased their price objective on shares of Etsy from $60.00 to $61.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Finally, Bank of America lowered their target price on Etsy from $61.00 to $58.00 and set a “neutral” rating on the stock in a report on Thursday, October 24th. Four equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Etsy presently has a consensus rating of “Hold” and an average price target of $62.50.

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.