DA Davidson Weighs in on Etsy Inc’s Q2 2019 Earnings (ETSY)

Etsy Inc (NASDAQ:ETSY) – Investment analysts at DA Davidson increased their Q2 2019 earnings per share (EPS) estimates for Etsy in a note issued to investors on Tuesday, February 26th. DA Davidson analyst T. Forte now expects that the specialty retailer will post earnings per share of $0.20 for the quarter, up from their prior estimate of $0.16. DA Davidson currently has a “Buy” rating and a $71.00 target price on the stock. DA Davidson also issued estimates for Etsy’s Q3 2019 earnings at $0.19 EPS, Q4 2019 earnings at $0.31 EPS, FY2019 earnings at $0.86 EPS, FY2020 earnings at $1.34 EPS, FY2021 earnings at $1.68 EPS, FY2022 earnings at $2.23 EPS and FY2023 earnings at $2.79 EPS.

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Several other analysts have also recently commented on ETSY. BidaskClub upgraded shares of Etsy from a “hold” rating to a “buy” rating in a report on Friday. Zacks Investment Research cut shares of Etsy from a “buy” rating to a “hold” rating in a research note on Friday, January 4th. BTIG Research lifted their target price on shares of Etsy to $67.00 and gave the company a “buy” rating in a research note on Tuesday. Loop Capital lifted their target price on shares of Etsy from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Citigroup reiterated a “buy” rating and issued a $80.00 target price on shares of Etsy in a research note on Tuesday. Five analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $63.43.

ETSY stock opened at $72.77 on Friday. The company has a quick ratio of 5.49, a current ratio of 5.49 and a debt-to-equity ratio of 0.85. The company has a market cap of $8.64 billion, a P/E ratio of 191.50, a P/E/G ratio of 5.43 and a beta of 0.93. Etsy has a 52 week low of $24.41 and a 52 week high of $73.33.

Etsy (NASDAQ:ETSY) last posted its quarterly earnings results on Monday, February 25th. The specialty retailer reported $0.32 EPS for the quarter, topping the consensus estimate of $0.26 by $0.06. The business had revenue of $200.00 million during the quarter, compared to analysts’ expectations of $194.77 million. Etsy had a net margin of 15.00% and a return on equity of 14.10%. The firm’s quarterly revenue was up 46.7% compared to the same quarter last year. During the same period last year, the company posted $0.36 earnings per share.

In other Etsy news, insider Michael T. Fisher sold 46,874 shares of Etsy stock in a transaction that occurred on Tuesday, February 26th. The shares were sold at an average price of $65.00, for a total value of $3,046,810.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Jill Simeone sold 11,572 shares of Etsy stock in a transaction that occurred on Friday, January 4th. The shares were sold at an average price of $50.00, for a total transaction of $578,600.00. Following the completion of the sale, the general counsel now owns 2,859 shares of the company’s stock, valued at $142,950. The disclosure for this sale can be found here. 2.80% of the stock is owned by insiders.

Several large investors have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC raised its position in shares of Etsy by 13.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,680 shares of the specialty retailer’s stock valued at $80,000 after purchasing an additional 200 shares during the period. Suntrust Banks Inc. raised its position in shares of Etsy by 5.2% in the fourth quarter. Suntrust Banks Inc. now owns 4,654 shares of the specialty retailer’s stock valued at $221,000 after purchasing an additional 230 shares during the period. PNC Financial Services Group Inc. increased its position in Etsy by 13.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,260 shares of the specialty retailer’s stock worth $108,000 after acquiring an additional 268 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Etsy by 8.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,103 shares of the specialty retailer’s stock worth $338,000 after acquiring an additional 531 shares during the period. Finally, Cornerstone Advisors Inc. bought a new position in Etsy during the third quarter worth $29,000. 88.86% of the stock is currently owned by institutional investors.

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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