Etsy (NYSE:ETSY) Shares Gap Up Following Earnings Beat

Etsy Inc (NYSE:ETSY) shares gapped up prior to trading on Thursday following a better than expected earnings announcement. The stock had previously closed at $44.05, but opened at $48.56. Etsy shares last traded at $48.32, with a volume of 4,719,849 shares.

The company reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.04. The business had revenue of $881.64 million during the quarter. Etsy had a negative return on equity of 29.07% and a net margin of 6.38%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ETSY. Evercore cut shares of Etsy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 30th. Citigroup raised shares of Etsy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 30th. Zacks Research cut Etsy from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 10th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Etsy in a research report on Monday, December 29th. Finally, BNP Paribas Exane upgraded Etsy to a “hold” rating in a research note on Monday, November 24th. One research analyst has rated the stock with a Strong Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Etsy presently has an average rating of “Hold”.

Etsy Stock Performance

The firm has a market capitalization of $4.79 billion, a PE ratio of 34.20, a PEG ratio of 5.13 and a beta of 1.77. The company has a fifty day simple moving average of $55.79.

Etsy Company Profile

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.