In the latest trading session, Etsy (ETSY) closed at $217.42, marking a +1.45% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.85%.Heading into today, shares of the online crafts marketplace had gained 10.3% over the past month, outpacing the Computer and Technology sector's gain of 1.96% and the S&P 500's loss of 0.37% in that time.Investors will be hoping for strength from ETSY as it approaches its next earnings release. In that report, analysts expect ETSY to post earnings of $0.55 per share. This would mark a year-over-year decline of 21.43%. Meanwhile, our latest consensus estimate is calling for revenue of $517.74 million, up 14.68% from the prior-year quarter.Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.97 per share and revenue of $2.27 billion. These totals would mark changes of +10.41% and +31.39%, respectively, from last year.Any recent changes to analyst estimates for ETSY should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. ETSY is currently a Zacks Rank #3 (Hold).Investors should also note ETSY's current valuation metrics, including its Forward P/E ratio of 72.12. Its industry sports an average Forward P/E of 29.73, so we one might conclude that ETSY is trading at a premium comparatively.Investors should also note that ETSY has a PEG ratio of 3.67 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Internet - Services was holding an average PEG ratio of 3.67 at yesterday's closing price.The Internet - Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 158, which puts it in the bottom 38% of all 250+ industries.The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions. Time to Invest in Legal Marijuana If you’re looking for big gains, there couldn’t be a better time to get in on a young industry primed to skyrocket from $17.7 billion back in 2019 to an expected $73.6 billion by 2027. After a clean sweep of 6 election referendums in 5 states, pot is now legal in 36 states plus D.C. Federal legalization is expected soon and that could be a still greater bonanza for investors. Even before the latest wave of legalization, Zacks Investment Research has recommended pot stocks that have shot up as high as +285.9%. You’re invited to check out Zacks’ Marijuana Moneymakers: An Investor’s Guide. It features a timely Watch List of pot stocks and ETFs with exceptional growth potential.Today, Download Marijuana Moneymakers FREE >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Etsy, Inc. (ETSY): Free Stock Analysis Report To read this article on Zacks.com click here.