Etsy Inc. to Post Q3 2016 Earnings of ($0.02) Per Share, Wedbush Forecasts (ETSY)
Etsy Inc. (NASDAQ:ETSY) – Analysts at Wedbush issued their Q3 2016 earnings per share (EPS) estimates for Etsy in a research note issued to investors on Thursday. Wedbush analyst A. Turner forecasts that the brokerage will post earnings per share of ($0.02) for the quarter. Wedbush currently has a “Neutral” rating and a $15.00 target price on the stock. Wedbush also issued estimates for Etsy’s Q4 2016 earnings at $0.00 EPS, FY2016 earnings at ($0.07) EPS, Q1 2017 earnings at ($0.01) EPS, Q2 2017 earnings at $0.00 EPS, Q3 2017 earnings at $0.01 EPS, Q4 2017 earnings at $0.06 EPS and FY2017 earnings at $0.07 EPS.
ETSY has been the topic of a number of other research reports. Loop Capital started coverage on Etsy in a report on Tuesday, September 13th. They issued a “hold” rating and a $14.00 target price on the stock. Zacks Investment Research downgraded Etsy from a “buy” rating to a “hold” rating in a report on Tuesday, October 4th. Citigroup Inc. upped their target price on Etsy from $16.00 to $20.00 and gave the company a “buy” rating in a report on Friday, October 7th. Morgan Stanley reiterated an “equal weight” rating and issued a $13.50 target price (up previously from $11.50) on shares of Etsy in a report on Monday, September 12th. Finally, Monness Crespi & Hardt upgraded Etsy from a “neutral” rating to a “buy” rating and set a $17.00 target price on the stock in a report on Wednesday, September 21st. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company. Etsy presently has an average rating of “Hold” and an average target price of $14.73.
Etsy (NASDAQ:ETSY) opened at 14.39 on Monday. The stock’s 50 day moving average is $14.41 and its 200-day moving average is $11.17. Etsy has a 52-week low of $6.04 and a 52-week high of $16.05. The firm’s market capitalization is $1.60 billion.
Etsy (NASDAQ:ETSY) last posted its earnings results on Tuesday, August 2nd. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by $0.05. Etsy had a negative return on equity of 3.08% and a negative net margin of 5.37%. The firm had revenue of $85.35 million for the quarter, compared to analyst estimates of $80.55 million. During the same period in the previous year, the firm posted ($0.07) earnings per share. The company’s revenue for the quarter was up 38.9% on a year-over-year basis.
Large investors have recently made changes to their positions in the company. Morgens Waterfall Vintiadis & Co. Inc. bought a new stake in shares of Etsy during the third quarter worth about $2,356,000. Fox Run Management L.L.C. acquired a new stake in Etsy during the third quarter valued at $177,000. BNP Paribas Arbitrage SA boosted its stake in Etsy by 107.6% in the third quarter. BNP Paribas Arbitrage SA now owns 8,598 shares of the company’s stock valued at $123,000 after buying an additional 4,456 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its stake in Etsy by 216.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 185,806 shares of the company’s stock valued at $1,782,000 after buying an additional 126,998 shares in the last quarter. Finally, Amalgamated Bank acquired a new stake in Etsy during the second quarter valued at $161,000. 58.14% of the stock is owned by hedge funds and other institutional investors.
In other Etsy news, CEO Chad Dickerson sold 105,289 shares of the company’s stock in a transaction that occurred on Monday, October 10th. The stock was sold at an average price of $16.00, for a total transaction of $1,684,624.00. Following the completion of the sale, the chief executive officer now owns 857,645 shares of the company’s stock, valued at $13,722,320. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Allspaw sold 63,468 shares of the company’s stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $12.50, for a total value of $793,350.00. Following the sale, the insider now directly owns 66,864 shares of the company’s stock, valued at approximately $835,800. The disclosure for this sale can be found here. 11.10% of the stock is owned by corporate insiders.
Etsy, Inc (Etsy) operates a marketplace to connect people around the both online and offline for making, selling and buying goods. The Company’s geographical segments include United States and International. The Company’s community includes Etsy sellers, Etsy buyers, wholesale partners, manufacturers and Etsy employees.
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