Etsy, Inc.’s Stock Price Drops to $53.98, Reflecting a 2.65% Decrease: Is it Time to Buy?

Etsy, Inc. (ETSY)

53.98 USD -1.47 (-2.65%) Volume: 6.39M

Etsy, Inc.’s stock price currently stands at 53.98 USD, experiencing a trading session dip of -2.65%, with a trading volume of 6.39M. The stock has seen a significant decline with a year-to-date percentage change of -33.40%, reflecting its volatile performance in the market.

Latest developments on Etsy, Inc.

Today, Etsy Inc. (NASDAQ:ETSY) stock price movement was influenced by key events such as the sale of shares by CTO Rachana Kumar and insider Nicholas Daniel. Tidal Investments LLC increased its stock position, while B. Riley Wealth Advisors Inc. also grew its stock position in Etsy Inc. Equities analysts issued forecasts for Q3 2024 earnings, with EPS estimates being reduced by an analyst. Additionally, Swedbank AB purchased shares of Etsy Inc., which reached a new 1-year low at $54.67.

Etsy, Inc. on Smartkarma

Analysts on Smartkarma have been closely covering Etsy Inc, a well-known online marketplace for handcrafted goods. Baptista Research recently published a report on the company’s fourth-quarter results, which were deemed fairly decent. The report highlighted Etsy’s record revenue of $2.7 billion for 2023, showing a 7% increase from the previous year. The firm’s robust financial model, solid revenue growth, significant profit levels, and strong cash flow were noted as positive indicators for long-term sustainable growth.

Another report by Baptista Research focused on Etsy Inc‘s Q1 2024 earnings, which had a cautious tone due to external factors like inflation and increasing costs of essentials affecting consumer sentiment. Despite a 3.7% decrease in Consolidated Gross Merchandise Sales (GMS) to $3 billion, revenue saw a slight 0.8% growth to $646 million. The company managed to deliver $168 million in adjusted EBITDA with a recommended margin of approximately 26%. Analysts are looking closely at Etsy’s strategies to improve search algorithms for an enhanced customer experience and potential indirect revenue boost.

A look at Etsy, Inc. Smart Scores

Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma

Based on Smartkarma Smart Scores, Etsy Inc has a positive long-term outlook. The company scores high in resilience, indicating its ability to withstand market fluctuations and economic challenges. Additionally, Etsy scores well in growth and momentum, showing potential for future expansion and market performance. While the company does not score high in value or dividend, its strong performance in other areas bodes well for its overall outlook.

Etsy, Inc. provides e-commerce services, offering a wide range of handmade, vintage, and regular items to users across the United States. With a strong focus on resilience, growth, and momentum, Etsy is positioned for long-term success in the e-commerce industry. While the company may not offer significant value or dividends, its overall outlook remains positive based on Smartkarma Smart Scores.

Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
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