Yahoo Finance Why the Market Dipped But Etsy (ETSY) Gained Today
Etsy (ETSY) closed the most recent trading day at $67.20, moving +0.49% from the previous trading session. The stock exceeded the S&P 500, which registered a loss of 0.46% for the day. At the same time, the Dow lost 0.98%, and the tech-heavy Nasdaq lost 0.64%.
Prior to today's trading, shares of the online crafts marketplace had lost 1.65% over the past month. This has was narrower than the Computer and Technology sector's loss of 5.01% and the S&P 500's loss of 3.04% in that time.
The investment community will be paying close attention to the earnings performance of Etsy in its upcoming release. The company is slated to reveal its earnings on May 1, 2024. The company's earnings per share (EPS) are projected to be $0.49, reflecting a 7.55% decrease from the same quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $648.32 million, indicating a 1.16% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates project earnings of $2.58 per share and a revenue of $2.85 billion, demonstrating changes of +6.61% and +3.84%, respectively, from the preceding year.
Investors should also pay attention to any latest changes in analyst estimates for Etsy. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.17% lower. Etsy presently features a Zacks Rank of #3 (Hold).
In terms of valuation, Etsy is presently being traded at a Forward P/E ratio of 25.94. This expresses a premium compared to the average Forward P/E of 24.73 of its industry.
We can also see that ETSY currently has a PEG ratio of 4.65. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. By the end of yesterday's trading, the Internet - Services industry had an average PEG ratio of 2.06.
The Internet - Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 39, which puts it in the top 16% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Etsy, Inc. (ETSY) : Free Stock Analysis Report
