Etsy, Inc. operates two-sided online marketplaces that connect buyers and sellers primarily in the United States, the United Kingdom, Germany, Canada, Australia, France, and India. 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. In addition, it offers various seller services, including Etsy Payments, a payment processing service; Etsy Ads, an advertising platform; and Shipping Labels, which allows sellers in the United States, Canada, the United Kingdom, Australia, and India to purchase discounted shipping labels. Further, the company provides various seller tools, including Shop Manager dashboard, a centralized hub for Etsy sellers to track orders, manage inventory, view metrics and statistics, and have conversations with their customers; and Sell on Etsy, an application to enable enhanced onboarding and video uploading. Additionally, it offers Etsy seller analytics pages that provides insights regarding traffic acquisition for their shops; Targeted Offers, a sales and promotions tool, and social media tool; and accounting and bookkeeping services. The company also provides educational resources comprising blog posts, video tutorials, Etsy Seller Handbook, Etsy.com online forums, and insights; Etsy Teams, a platform to build personal relationships with other Etsy sellers; and a Star Seller program. As of December 31, 2021, it connected a total of 7.5 million active sellers to 96.3 million active buyers; and had 120 million items for sale. The company was formerly known as Indieco, Inc changed its name to Etsy, Inc. in June 2006. Etsy, Inc. was founded in 2005 and is headquartered in Brooklyn, New York.
Analysts Set New Price Targets
Several research firms recently issued reports on ETSY. Loop Capital dropped their price target on shares of Etsy from $140.00 to $115.00 in a research note on Thursday, April 21st. Needham & Company LLC downgraded shares of Etsy from a "buy" rating to a "hold" rating in a research note on Monday, June 27th. BTIG Research lifted their price target on shares of Etsy from $105.00 to $122.00 in a research note on Thursday, July 28th. Truist Financial dropped their target price on shares of Etsy from $150.00 to $112.00 and set a "buy" rating for the company in a research report on Wednesday, July 20th. Finally, JMP Securities reissued a "mkt outperform" rating and issued a $125.00 target price on shares of Etsy in a research report on Wednesday, June 1st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $129.95.
Etsy Stock Performance
Etsy stock traded up $8.03 during midday trading on Wednesday, reaching $116.90. 3,903,232 shares of the stock traded hands, compared to its average volume of 4,386,036. The company has a current ratio of 2.93, a quick ratio of 2.93 and a debt-to-equity ratio of 4.10. The firm has a fifty day moving average price of $86.79 and a two-hundred day moving average price of $108.88. The firm has a market cap of $14.80 billion, a price-to-earnings ratio of 41.16, a PEG ratio of 5.07 and a beta of 1.88. Etsy has a fifty-two week low of $67.01 and a fifty-two week high of $307.75.
Etsy (NASDAQ:ETSY - Get Rating) last posted its earnings results on Wednesday, July 27th. The specialty retailer reported $0.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.31 by $0.20. The firm had revenue of $585.20 million during the quarter, compared to analyst estimates of $556.85 million. Etsy had a net margin of 17.01% and a return on equity of 67.88%. Etsy's revenue was up 10.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.68 EPS. On average, equities research analysts forecast that Etsy will post 2.19 earnings per share for the current year.
Insider Transactions at Etsy
In other news, CEO Josh Silverman sold 20,850 shares of the company's stock in a transaction that occurred on Wednesday, June 22nd. The shares were sold at an average price of $74.14, for a total value of $1,545,819.00. Following the completion of the sale, the chief executive officer now directly owns 102,707 shares of the company's stock, valued at approximately $7,614,696.98. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Josh Silverman sold 20,850 shares of the stock in a transaction that occurred on Wednesday, June 22nd. The shares were sold at an average price of $74.14, for a total transaction of $1,545,819.00. Following the completion of the sale, the chief executive officer now directly owns 102,707 shares of the company's stock, valued at $7,614,696.98. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Rachel C. Glaser sold 6,080 shares of the stock in a transaction that occurred on Thursday, July 21st. The shares were sold at an average price of $95.00, for a total transaction of $577,600.00. Following the sale, the chief financial officer now directly owns 42,709 shares of the company's stock, valued at $4,057,355. The disclosure for this sale can be found here. In the last three months, insiders sold 111,280 shares of company stock valued at $9,672,083. Company insiders own 3.10% of the company's stock.
