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.
Wall Street Analyst Weigh In
A number of brokerages have commented on ETSY. Stifel Nicolaus lowered their target price on Etsy from $130.00 to $125.00 in a research note on Friday, July 15th. DA Davidson lowered their target price on Etsy from $185.00 to $146.00 in a research note on Wednesday, July 20th. Deutsche Bank Aktiengesellschaft lowered their target price on Etsy from $100.00 to $90.00 in a research note on Thursday, July 21st. KeyCorp began coverage on Etsy in a research report on Wednesday, July 20th. They issued a "sector weight" rating for the company. Finally, Wedbush reduced their price target on Etsy from $185.00 to $124.00 in a research report on Thursday, May 5th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $129.95.
Etsy Stock Performance
Shares of NASDAQ:ETSY traded down $3.11 during trading hours on Tuesday, hitting $108.87. 3,208,559 shares of the company's stock were exchanged, compared to its average volume of 4,389,083. Etsy has a 1-year low of $67.01 and a 1-year high of $307.75. The company has a debt-to-equity ratio of 4.10, a current ratio of 2.93 and a quick ratio of 2.93. The stock has a market capitalization of $13.78 billion, a price-to-earnings ratio of 38.33, a PEG ratio of 5.07 and a beta of 1.88. The company's 50-day moving average price is $86.79 and its 200-day moving average price is $108.88.
Etsy (NASDAQ:ETSY - Get Rating) last posted its quarterly earnings results on Wednesday, July 27th. The specialty retailer reported $0.51 EPS for the quarter, beating the consensus estimate of $0.31 by $0.20. The firm had revenue of $585.20 million during the quarter, compared to analysts' expectations of $556.85 million. Etsy had a return on equity of 67.88% and a net margin of 17.01%. The company's revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.68 EPS. On average, sell-side analysts expect that Etsy will post 2.19 earnings per share for the current fiscal year.
Insider Buying and Selling at Etsy
In other Etsy news, CEO Josh Silverman sold 20,850 shares of the company's stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $107.80, for a total value of $2,247,630.00. Following the completion of the transaction, the chief executive officer now owns 102,707 shares of the company's stock, valued at approximately $11,071,814.60. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Etsy news, CEO Josh Silverman sold 20,850 shares of the company's stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $107.80, for a total value of $2,247,630.00. Following the completion of the transaction, the chief executive officer now owns 102,707 shares of the company's stock, valued at approximately $11,071,814.60. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Rachel C. Glaser sold 6,080 shares of the company's stock in a transaction that occurred on Thursday, July 21st. The shares were sold at an average price of $95.00, for a total value of $577,600.00. Following the completion of the sale, the chief financial officer now owns 42,709 shares in the company, valued at $4,057,355. The disclosure for this sale can be found here. Insiders sold a total of 132,130 shares of company stock valued at $11,368,022 in the last quarter. Corporate insiders own 3.10% of the company's stock.
