Etsy Inc. (NASDAQ: ETSY) stock fell -1.63% on Thursday to $86.23 against a previous-day closing price of $87.66. With 2.35 million shares changed hands, the volume of the stock remained lighter than its average volume of 3.42 million shares. During the session, the Internet Retail company that operates in wider Consumer Cyclical sector, reached to the highest price of $88.39 whereas the lowest price it dropped to was $84.96. The 52-week range on ETSY shows that it touched its highest point at $149.91 and its lowest point at $67.01 during that stretch. It currently has a 1-year price target of $122.90. Beta for the stock currently stands at 1.99.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of ETSY was down-trending over the past week, with a drop of -6.67%, but this was down by -11.80% over a month. Three-month performance dropped to -30.52% while six-month performance fell -27.71%. The stock gained 22.82% in the past year, while it has lost -28.01% so far this year. A look at the trailing 12-month EPS for ETSY yields -5.68 with Next year EPS estimates of 3.10. For the next quarter, that number is 0.42. This implies an EPS growth rate of -262.00% for this year and 27.61% for next year. EPS is expected to grow by 16.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 58.29%.
Float and Shares Shorts:
At present, 124.34 million ETSY shares are outstanding with a float of 122.36 million shares on hand for trading. On Apr 27, 2023, short shares totaled 14.2 million, which was 11.51% higher than short shares on Mar 30, 2023. In addition to Mr. Joshua G. Silverman as the firm’s CEO, Pres & Director, Ms. Rachel C. Glaser serves as its Chief Financial Officer.
Institutional Ownership:
Through their ownership of 101.74% of ETSY’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 60.61% of ETSY, in contrast to 40.02% held by mutual funds. Shares owned by individuals account for 13.06%. As the largest shareholder in ETSY with 10.76% of the stake, The Vanguard Group, Inc. holds 13,405,834 shares worth 13,405,834. A second-largest stockholder of ETSY, Wellington Management Co. LLP, holds 7,347,203 shares, controlling over 5.89% of the firm’s shares. Capital Research & Management Co is the third largest shareholder in ETSY, holding 6,606,372 shares or 5.30% stake. With a 3.11% stake in ETSY, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 3,870,285 shares are owned by the mutual fund manager. The American Funds Growth Fund of Ame, which owns about 2.49% of ETSY stock, is the second-largest Mutual Fund holder. It holds 3,098,475 shares valued at 313.04 million. Vanguard 500 Index Fund holds 2.37% of the stake in ETSY, owning 2,950,851 shares worth 298.12 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, ETSY reported revenue of $585.13M and operating income of $72.56M. The EBITDA in the recently reported quarter was $97.59M and diluted EPS was $0.51.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for ETSY since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With ETSY analysts setting a high price target of $170.00 and a low target of $46.00, the average target price over the next 12 months is $119.13. Based on these targets, ETSY could surge 97.15% to reach the target high and fall by -46.65% to reach the target low. Reaching the average price target will result in a growth of 38.15% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded ETSY stock several times over the past three months with 16 Buys and 40 Sells. In these transactions, 190,505 shares were bought while 155,730 shares were sold. The number of buy transactions has increased to 74 while that of sell transactions has risen to 203 over the past year. The total number of shares bought during that period was 815,511 while 769,758 shares were sold.
