Etsy (ETSY) Expected to Announce Quarterly Earnings on Wednesday

Etsy (NASDAQ:ETSY) is expected to issue its quarterly earnings data before the market opens on Wednesday, February 19th. Analysts expect the company to announce earnings of $0.94 per share and revenue of $861.37 million for the quarter. Parties that wish to listen to the company’s conference call can do so using this link.

Etsy Stock Performance

ETSY opened at $57.20 on Tuesday. The firm has a 50 day moving average price of $54.90 and a 200 day moving average price of $53.86. The company has a market cap of $6.43 billion, a PE ratio of 29.18, a price-to-earnings-growth ratio of 2.71 and a beta of 2.00. Etsy has a 1 year low of $47.10 and a 1 year high of $78.65.

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

Insider Activity

In related news, insider Nicholas Daniel sold 1,500 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was 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 owns 22,198 shares of the company’s stock, valued at $1,228,437.32. This trade represents a 6.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 2.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on ETSY shares. Raymond James decreased their price target on Etsy from $72.00 to $65.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Barclays decreased their price target on Etsy from $60.00 to $55.00 and set an “equal weight” rating for the company in a report on Thursday, October 31st. Morgan Stanley decreased their price target on Etsy from $47.00 to $45.00 and set an “underweight” rating for the company in a report on Monday, January 13th. Moffett Nathanson increased their target price on Etsy from $60.00 to $61.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Finally, JMP Securities reiterated a “market perform” rating on shares of Etsy in a research note on Monday, December 16th. Four equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Etsy currently has an average 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.