Etsy Inc [NASDAQ: ETSY] traded at a low on 11/01/23, posting a -2.63 loss after which it closed the day’ session at $60.66. The company report on November 1, 2023 at 4:05 PM that Etsy, Inc. Reports Third Quarter 2023 Results.
Etsy, Inc. (NASDAQ: ETSY), which operates two-sided online marketplaces that connect millions of passionate and creative buyers and sellers around the world, today announced results for its third quarter ended September 30, 2023.
“Etsy’s consolidated results were in line with expectations for modest top line growth and very strong profitability,” said Josh Silverman, Etsy, Inc. Chief Executive Officer. “While we are undoubtedly operating in a challenging environment for spending on consumer discretionary items, we believe that we are at least holding our share gains in our top categories. We are making great progress, through focused and impactful product launches and marketing programs, to highlight Etsy’s high quality merchandise, at great value, that is reliable and convenient, and believe that these efforts will enable us to build buyer consideration. We believe that our TAM is enormous, our market share remains small, our value-proposition is highly differentiated, and we are solving for something no one else is – Keeping Commerce Human.”.
The results of the trading session contributed to over 7431727 shares changing hands. Over the past one week, the price volatility of Etsy Inc stands at 3.85% while the volatility over the past one month is 3.69%.
The market cap for ETSY stock reached $7.46 billion, with 125.05 million shares outstanding and 121.99 million shares in the current float. Compared to the average trading volume of 3.52M shares, ETSY reached a trading volume of 7431727 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Etsy Inc [ETSY]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ETSY shares is $90.93 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ETSY stock is a recommendation set at 2.29. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
UBS have made an estimate for Etsy Inc shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on October 31, 2023.
The Average True Range (ATR) for Etsy Inc is set at 2.54, with the Price to Sales ratio for ETSY stock in the period of the last 12 months amounting to 2.79. Price to Free Cash Flow for ETSY in the course of the last twelve months was 11.30 with Quick ratio for the last quarter at 2.81.
How has ETSY stock performed recently?
Etsy Inc [ETSY] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.65. With this latest performance, ETSY shares dropped by -2.62% in over the last four-week period, additionally sinking by -38.71% over the last 6 months – not to mention a drop of -35.41% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ETSY stock in for the last two-week period is set at 38.08, with the RSI for the last a single of trading hit 35.01, and the three-weeks RSI is set at 39.00 for Etsy Inc [ETSY]. The present Moving Average for the last 50 days of trading for this stock 66.09, while it was recorded at 61.82 for the last single week of trading, and 93.61 for the last 200 days.
Etsy Inc [ETSY]: Deeper insight into the fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Etsy Inc [ETSY] shares currently have an operating margin of +15.17 and a Gross Margin at +70.98. Etsy Inc’s Net Margin is presently recorded at -27.06.
Return on Total Capital for ETSY is now 15.73, given the latest momentum, and Return on Invested Capital for the company is -28.14. Return on Equity for this stock declined to -1,707.02, with Return on Assets sitting at -21.47. Additionally, ETSY Total Debt to Total Capital is recorded at 129.03, with Total Debt to Total Assets ending up at 92.31.
Reflecting on the efficiency of the workforce at the company, Etsy Inc [ETSY] managed to generate an average of -$248,849 per employee. Receivables Turnover for the company is 10.08 with a Total Asset Turnover recorded at a value of 0.79.Etsy Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.81 and a Current Ratio set at 2.81.
Earnings analysis for Etsy Inc [ETSY]
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ETSY. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Etsy Inc go to 16.00%.
Insider trade positions for Etsy Inc [ETSY]
The top three institutional holders of ETSY stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2579%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $201.66 billion in ETSY stocks shares; and BERKSHIRE HATHAWAY INC, currently with $177.59 billion in ETSY stock with ownership which is approximately 5.7994%.