Etsy, Inc. Reports First Quarter 2024 Results

Etsy (ETSY) PT Lowered to $78 at BTIG

BTIG analyst Marvin Fong lowered the price target on Etsy (NASDAQ: ETSY) to $78.00 (from $87.00) while maintaining a Buy rating.

The analyst comments "ETSY continues to suffer from softness in discretionary spending as consolidated GMS declined by 3.7%. Etsy marketplace GMS fell 5.3% (5.6% in constant FX). Recall ETSY guided to a LSD decline in 1Q24, although a MSD decline was possible if growth initiatives didn't pan out. March underperformed management's expectations, in part due to a larger-than-expected Easter/Spring Break effect, which detracted from 1Q but was made up for in April. However, there was additional... More

Etsy (ETSY) PT Lowered to $60 at Deutsche Bank

Deutsche Bank analyst Leo Horowitz lowered the price target on Etsy (NASDAQ: ETSY) to $60.00 (from $65.00) while maintaining a Hold rating.

The analyst comments "Set against fairly tepid expectations, Etsy reported a 1Q GMS miss, with a 2Q outlook that will continue to call into question the... More

Etsy (ETSY) PT Lowered to $62 at Citi

Citi analyst Nicholas Jones lowered the price target on Etsy (NASDAQ: ETSY) to $62.00 (from $72.00) while maintaining a Neutral rating.

The analyst comments "Etsy reported 1Q24 results/2Q24 guidance both below expectations, particularly on GMS. Last quarter management expected 1Q to be the... More

Etsy (ETSY) PT Lowered to $80 at Evercore ISI

Evercore ISI analyst Mark Mahaney lowered the price target on Etsy (NASDAQ: ETSY) to $80.00 (from $90.00) while maintaining a Outperform rating.

The analyst comments "In the wake of In-Line & Lower Q1 EPS results, we are trimming ETSY PT to $80, but patiently sticking with our Outperform. Here are the numbers: Revenue of $646MM and EBITDA of $168MM largely in-line with ISI/Street (with 26.0% EBITDA Margin right on the dot with guidance), GMS of $3.0B was -1% below the... More

Etsy (ETSY) shares down as Q1 print shows 'lack of acceleration'

(Updated - May 2, 2024 5:28 AM EDT)

Etsy (NASDAQ: ETSY) saw its shares plummet over 13% in premarket trading Thursday after the company missed expectations on top and bottom lines in fiscal Q1 2024.

The e-commerce company posted Q1 earnings per share (EPS) of $0.48, slightly below the analyst estimate of $0.49. Revenue for the quarter was $645.95 million, narrowly missing the consensus estimate of $646.21 million.

The non-GAAP Adjusted EBITDA margin for the quarter stood at approximately 26.0%.

Consolidated Gross Merchandise Sales (GMS) totaled $3.0 billion, marking a decrease of 3.7% year-over-year and a 4.1% drop on a currency-neutral... More