Etsy Analysts Increase Their Forecasts Following Better-Than-Expected Q2 Earnings

Benzinga Earnings18:31

Etsy Inc (NYSE:ETSY) reported upbeat earnings for the second quarter after the closing bell on Wednesday.

The company posted quarterly earnings of 98 cents per share which beat the analyst consensus estimate of 74 cents per share. The company reported quarterly sales of $668.313 million which beat the analyst consensus estimate of $649.065 million.

The company’s board authorized a new $2 billion share buyback program and announced plans to cut workforce by 12%.

Etsy shares rose 1.5% to $83.50 in pre-market trading.

These analysts made changes to their price targets on Etsy following earnings announcement.

Needham analyst Bernie McTernan maintained the stock with a Buy and raised the price target from $85 to $100.
JP Morgan analyst Bryan Smilek upgraded the stock from Neutral to Overweight and raised the price target from $85 to $100.

Considering buying ETSY stock? Here’s what analysts think:

Photo via Shutterstock

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The company reported quarterly sales of $668.313 million which beat the analyst consensus estimate of $649.065 million.\nThe company’s board authorized a new $2 billion share buyback program and announced plans to cut workforce by 12%.\nEtsy shares rose 1.5% to $83.50 in pre-market trading.\nThese analysts made changes to their price targets on Etsy following earnings announcement.\n\nNeedham analyst Bernie McTernan maintained the stock with a Buy and raised the price target from $85 to $100.\nJP Morgan analyst Bryan Smilek upgraded the stock from Neutral to Overweight and raised the price target from $85 to $100.\n\nConsidering buying ETSY stock? 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