FINWIRES · TerminalLIVE
FINWIRES

Etsy's Workforce Reduction May Help Sustain Gross Merchandise Sales Uptrend, Wedbush Says

By

Etsy's (ETSY) workforce reduction will lead to some margin improvement to help sustain the uptrend in gross merchandise sales, Wedbush said in a Friday research report.

The brokerage said it now expects Q3 EPS of $0.86 on revenue of $669 million, up from prior estimates of $0.74 and $651 million, respectively.

The company is seeing efficiency in its market spend as "richer listings data" shared with Alphabet's (GOOG/GOOGL) Google is enabling competitive bids across auctions, bolstering performance, according to Wedbush.

All GMS growth levers are moving in the right direction, but the setup becomes more complex in H2 as purchase frequency remains below prior-year levels, the analysts said.

Wedbush reiterated its neutral rating and boosted its price target to $88 per share from $80.

Price: $85.43, Change: $+3.16, Percent Change: +3.85%

Related Articles

Wire

Century Aluminum Q2 Adjusted Earnings, Revenue Rise

Century Aluminum (CENX) reported Q2 adjusted earnings late Thursday of $2.46 per diluted share, up from $0.30 a year earlier.Three analysts polled by FactSet expected $2.33.Revenue for the three months ended June 30 rose to $752.1 million from $628.1 million a year earlier.Four analysts surveyed by FactSet expected $817.2 million.The company's shares rose 1.6% in after-hours trading.

$CENX
Wire

JFrog Q2 Non-GAAP Earnings, Revenue Rise; Shares Gain After Hours

JFrog (FROG) reported Q2 non-GAAP earnings late Thursday of $0.27 per diluted share, up from $0.18 a year earlier.Analysts polled by FactSet expected $0.24.Revenue in the three months ended June 30 rose to $163.8 million from $127.2 million a year earlier.Analysts projected $155.6 million.The company expects Q3 non-GAAP EPS of $0.22 to $0.24 on revenue of $164 million to $166 million. Analysts project EPS of $0.22 on revenue of $159 million.JFrog boosted full-year guidance to non-GAAP EPS of $0.96 to $1.00 on revenue of $648 million to $652 million. The prior forecast was EPS of $0.93 to $0.97 on revenue of $628 million to $632 million.Analysts expect EPS of $0.95 on revenue of $632.9 million.JFrog shares jumped 13% in after-hours trading.

$FROG
Wire

Reinsurance Group of America Q2 Adjusted Earnings, Revenue Rise

Reinsurance Group of America (RGA) reported Q2 adjusted earnings late Thursday of $8.89 per diluted share, up from $4.72 a year earlier.Analysts polled by FactSet expected $6.50.Revenue in the three months ended June 30 rose to $6.64 billion from $5.6 billion a year earlier.Analysts projected $6.67 billion.The company's shares rose 1.6% in after-hours trading.

$RGA
Etsy's Workforce Reduction May Help Sustain Gross Merchandise Sales Uptrend, Wedbush Says | FINWIRES