Etsy (NYSE:ETSY) Stock Price Up 6.6% Following Earnings Beat

Shares of Etsy Inc (NYSE:ETSY) traded up 6.6% during mid-day trading on Friday after the company announced better than expected quarterly earnings. The company traded as high as $51.84 and last traded at $51.34. 3,186,203 shares were traded during mid-day trading, a decline of 20% from the average session volume of 3,987,784 shares. The stock had previously closed at $48.14.

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

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on ETSY shares. Wall Street Zen cut shares of Etsy from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. Weiss Ratings reissued a “hold (c)” rating on shares of Etsy in a research note on Monday, December 29th. BNP Paribas Exane raised shares of Etsy to a “hold” rating in a report on Monday, November 24th. Zacks Research cut Etsy from a “strong-buy” rating to a “hold” rating in a report on Monday, November 10th. Finally, Evercore downgraded Etsy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold”.

Etsy Price Performance

The stock has a market cap of $5.09 billion, a price-to-earnings ratio of 36.32, a price-to-earnings-growth ratio of 5.09 and a beta of 1.77. The company’s fifty day moving average price is $55.69.

About Etsy

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.