Etsy Inc (NASDAQ:ETSY) Expected to Announce Quarterly Sales of $193.75 Million

Wall Street brokerages forecast that Etsy Inc (NASDAQ:ETSY) will report sales of $193.75 million for the current quarter, according to Zacks Investment Research. Seven analysts have provided estimates for Etsy’s earnings. The lowest sales estimate is $188.35 million and the highest is $197.81 million. Etsy reported sales of $150.37 million during the same quarter last year, which indicates a positive year over year growth rate of 28.8%. The business is scheduled to report its next earnings report on Tuesday, November 5th.

On average, analysts expect that Etsy will report full year sales of $800.62 million for the current year, with estimates ranging from $790.67 million to $807.20 million. For the next year, analysts forecast that the company will report sales of $987.36 million, with estimates ranging from $956.21 million to $1.02 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that follow Etsy.

Etsy (NASDAQ:ETSY) last released its quarterly earnings results on Thursday, August 1st. The specialty retailer reported $0.14 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.14. The business had revenue of $181.10 million for the quarter, compared to the consensus estimate of $183.28 million. Etsy had a net margin of 15.83% and a return on equity of 26.77%. The business’s revenue was up 36.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.07 EPS.

A number of equities research analysts have recently issued reports on ETSY shares. KeyCorp set a $90.00 price target on shares of Etsy and gave the company a “buy” rating in a research note on Friday, August 2nd. BTIG Research raised shares of Etsy from a “neutral” rating to a “buy” rating and set a $79.00 price target on the stock in a research note on Thursday, July 25th. Wedbush set a $64.00 price target on shares of Etsy and gave the company a “hold” rating in a research note on Friday, August 2nd. Morgan Stanley set a $65.00 price target on shares of Etsy and gave the company a “hold” rating in a research note on Friday, August 2nd. Finally, TheStreet downgraded shares of Etsy from a “b” rating to a “c+” rating in a research note on Friday, May 24th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $73.13.

Shares of Etsy stock traded down $1.26 on Friday, reaching $54.12. The company had a trading volume of 108,974 shares, compared to its average volume of 2,926,546. The firm’s 50 day moving average price is $61.70 and its two-hundred day moving average price is $63.69. The firm has a market cap of $6.67 billion, a PE ratio of 89.07, a PEG ratio of 3.31 and a beta of 0.92. Etsy has a 52-week low of $38.02 and a 52-week high of $73.35. The company has a debt-to-equity ratio of 0.77, a quick ratio of 4.47 and a current ratio of 4.47.

In other news, insider Michael T. Fisher sold 5,208 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $55.30, for a total value of $288,002.40. Following the completion of the transaction, the insider now owns 22,580 shares in the company, valued at approximately $1,248,674. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Goyal Kruti Patel sold 4,505 shares of the company’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $61.80, for a total transaction of $278,409.00. Following the completion of the transaction, the senior vice president now owns 16,389 shares of the company’s stock, valued at approximately $1,012,840.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 33,572 shares of company stock worth $2,046,791. Insiders own 3.00% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. Cooper Creek Partners Management LLC purchased a new position in Etsy during the 1st quarter worth $5,386,000. Freestone Capital Holdings LLC purchased a new position in Etsy during the 1st quarter worth $13,445,000. Foundry Partners LLC purchased a new position in Etsy during the 1st quarter worth $1,554,000. Peregrine Asset Advisers Inc. purchased a new position in Etsy during the 1st quarter worth $2,908,000. Finally, Zevenbergen Capital Investments LLC purchased a new position in Etsy during the 1st quarter worth $2,790,000. Institutional investors and hedge funds own 92.92% of the company’s stock.

About Etsy

Etsy, Inc operates Etsy.com, a commerce platform to make, sell, and buy goods online and offline primarily in the United States, United Kingdom, Canada, Australia, France, and Germany. It provides various seller services and tools that are designed to help entrepreneurs for starting, managing, and scaling their businesses.

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Earnings History and Estimates for Etsy (NASDAQ:ETSY)

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