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

Etsy, Inc. (NASDAQ:ETSY) – Investment analysts at B. Riley reduced their FY2024 earnings estimates for shares of Etsy in a note issued to investors on Thursday, October 31st. B. Riley analyst N. Khan now expects that the specialty retailer will post earnings per share of $2.23 for the year, down from their previous forecast 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 has been the topic of several other research reports. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Etsy from $48.00 to $50.00 and gave the stock a “hold” rating in a research note on Friday. Oppenheimer cut Etsy from an “outperform” rating to a “market perform” rating in a report on Thursday, August 1st. Barclays decreased their price objective on Etsy from $60.00 to $55.00 and set an “equal weight” rating on the stock in a report on Thursday. Bank of America cut their target price on shares of Etsy from $61.00 to $58.00 and set a “neutral” rating for the company in a report on Thursday, October 24th. Finally, Stifel Nicolaus reduced their price target on shares of Etsy from $64.00 to $56.00 and set a “hold” rating on the stock in a research report on Monday, October 28th. Four research 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. According to data from MarketBeat, Etsy has an average rating of “Hold” and a consensus target price of $64.87.

Etsy Price Performance

Shares of ETSY opened at $52.77 on Friday. Etsy has a 1 year low of $47.10 and a 1 year high of $89.58. The company has a 50 day simple moving average of $52.60 and a two-hundred day simple moving average of $58.15. The firm has a market cap of $6.06 billion, a P/E ratio of 26.92, a price-to-earnings-growth ratio of 5.39 and a beta of 1.97.

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

Etsy declared that its Board of Directors has initiated 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 reacquire up to 17.8% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

Insider Transactions at Etsy

In related news, insider Toni Thompson Nadal sold 1,443 shares of Etsy stock in a transaction dated Thursday, October 3rd. The shares were 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 trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Etsy news, insider Toni Thompson Nadal sold 1,443 shares of Etsy 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 directly owns 592 shares of the company’s stock, valued at $30,257.12. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Merilee Buckley sold 1,676 shares of the 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 ninety days, insiders have sold 4,619 shares of company stock worth $240,825. Insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Etsy

Several large investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC lifted its holdings in Etsy by 68.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 10,968 shares of the specialty retailer’s stock worth $754,000 after buying an additional 4,474 shares during the period. Janney Montgomery Scott LLC boosted its position in Etsy by 26.2% during the first quarter. Janney Montgomery Scott LLC now owns 11,078 shares of the specialty retailer’s stock valued at $761,000 after purchasing an additional 2,299 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. grew its stake in Etsy by 10.3% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,555 shares of the specialty retailer’s stock valued at $313,000 after purchasing an additional 424 shares during the last quarter. Meridian Management Co. raised its holdings in Etsy by 1.7% in the first quarter. Meridian Management Co. now owns 63,168 shares of the specialty retailer’s stock worth $4,341,000 after purchasing an additional 1,026 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S lifted its position in shares of Etsy by 79.3% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 7,059 shares of the specialty retailer’s stock valued at $485,000 after buying an additional 3,122 shares during the last quarter. 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.