Etsy, Inc.’s Stock Price Plunges to $55.45, Suffers 6.57% Decline: A Detailed Performance Analysis

Etsy, Inc. (ETSY)

55.45 USD -3.90 (-6.57%) Volume: 7.19M

Etsy, Inc.’s stock price stands at 55.45 USD, reflecting a decrease of 6.57% in the recent trading session with a trading volume of 7.19M. The ETSY stock has seen a significant year-to-date decline of 31.59%, highlighting its volatile performance in the market.

Latest developments on Etsy, Inc.

Today, Etsy Inc. (NASDAQ:ETSY) stock price movements were influenced by various key events. Analysts reduced Q3 2024 EPS estimates for the company, leading to some market uncertainty. However, B. Riley Wealth Advisors Inc. increased their stock position in Etsy, Inc., indicating confidence in the company’s long-term prospects. Swedbank AB also entered the market by purchasing a new position in Etsy, Inc. On the other hand, Public Employees Retirement System of Ohio sold 5,697 shares of Etsy, Inc., contributing to the stock reaching a new 1-year low at $54.67. These developments have played a role in shaping Etsy Inc.’s stock performance today.

Etsy, Inc. on Smartkarma

Analysts on Smartkarma have been closely following the coverage of Etsy Inc, a popular online marketplace for handcrafted goods. Baptista Research recently published a report on the company’s Q1 2024 earnings, noting a cautious tone due to external factors like inflation and rising costs. Despite a 3.7% decline in Consolidated Gross Merchandise Sales (GMS), Etsy Inc saw a slight revenue growth of 0.8% to $646 million. The company also delivered $168 million in adjusted EBITDA, with a recommended EBITDA margin of approximately 26%.

Another report by Baptista Research highlighted Etsy Inc‘s investment in marketing and potential payback, along with 5 major drivers for financial forecasts. The firm’s fourth-quarter results were deemed fairly decent, with revenue reaching a record $2.7 billion for 2023, up around 7% from the previous year. Analysts expressed confidence in Etsy’s robust financial model, citing solid revenue growth, significant profit levels, and strong cash flow as positive indicators for long-term sustainable growth.

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

According to Smartkarma Smart Scores, Etsy Inc has a mixed long-term outlook. While the company scores high in resilience, indicating its ability to withstand economic downturns and challenges, it falls short in terms of value and dividend. However, Etsy Inc shows potential for growth and has a moderate momentum score. This suggests that while the company may face some challenges in terms of value and dividends, it has the potential to grow and adapt in the long run.

Etsy, Inc. provides e-commerce services, offering a wide range of handmade and vintage items, art supplies, clothing, housewares, and more. With a strong focus on resilience and a moderate growth potential, Etsy Inc could continue to thrive in the e-commerce market. While the company may not offer high dividends or value currently, its momentum score indicates that it is moving in a positive direction. Overall, Etsy Inc‘s Smartkarma Smart Scores suggest a promising outlook for the company in the long term.

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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