Wall Street brokerages expect GoDaddy Inc. (NYSE: GDDY – Get a rating) to show sales of $1.02 billion for the current quarter, Zacks Investment Research reports. Eight analysts have made estimates of GoDaddy’s revenue, with estimates ranging from $1.01 billion to $1.02 billion. GoDaddy recorded sales of $931.30 million in the same quarter last year, suggesting a positive year-over-year growth rate of 9.5%. The company is due to release its next earnings report on Monday, January 1.
According to Zacks, analysts expect GoDaddy to report annual sales of $4.15 billion for the current fiscal year, with estimates ranging from $4.14 billion to $4.16 billion. For the next fiscal year, analysts expect the company to post sales of $4.57 billion, with estimates ranging from $4.53 billion to $4.62 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts who follow GoDaddy.
Come on dad (NYSE: GDDY – Get a rating) last released its quarterly earnings data on Wednesday, May 4. The tech company reported earnings per share of $0.41 for the quarter, missing analyst consensus estimates of $0.42 per ($0.01). GoDaddy had a net margin of 7.66% and a negative return on equity of 231.58%. The company posted revenue of $1 billion for the quarter, versus a consensus estimate of $989.20 million. During the same period last year, the company achieved EPS of $0.06. The company’s quarterly revenue increased 11.3% year over year.
GDDY has been the subject of a number of research reports. Piper Sandler downgraded GoDaddy from a “neutral” to an “overweight” rating and raised its price target for the stock from $94.00 to $110.00 in a Monday, April 25 research note. Raymond James raised its target price on GoDaddy from $100.00 to $107.00 and gave the company a “Strong Buy” rating in a Friday, Feb. 11 research report. Zacks Investment Research upgraded GoDaddy from a “sell” rating to a “hold” rating and set a target price of $82.00 on the stock in a research report on Friday, May 6. Benchmark raised its price target on GoDaddy from $102.00 to $106.00 and gave the company a “buy” rating in a Thursday, May 5 report. Finally, Morgan Stanley raised its price target on GoDaddy from $81.00 to $95.00 and gave the company an “equal weight” rating in a Monday, February 14, report. Three research analysts gave the stock a hold rating, seven gave the stock a buy rating and one gave the stock a high buy rating. According to MarketBeat.com, the stock currently has an average buy rating and consensus price target of $100.70.
Shares of GDDY opened at $72.23 on Tuesday. The company has a market capitalization of $11.71 billion, a price/earnings ratio of 40.58, a P/E/G ratio of 2.18 and a beta of 0.96. GoDaddy has a 12 month minimum of $65.70 and a 12 month maximum of $90.43. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt ratio of 46.37. The company’s fifty-day simple moving average is $80.75 and its two-hundred-day simple moving average is $77.58.
In other GoDaddy News, CEO Amanpal Singh Bhutan sold 1,987 shares of the company in a trade that took place on Monday, April 4. The stock was sold at an average price of $86.51, for a total transaction of $171,895.37. Following completion of the transaction, the CEO now owns 224,051 shares of the company, valued at $19,382,652.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, accessible via this link. During the last quarter, insiders sold 17,533 shares of the company valued at $1,434,125. 0.38% of the shares are currently held by insiders of the company.
Several large investors have recently changed their positions in the company. Tealwood Asset Management Inc. purchased a new equity stake in GoDaddy in the third quarter worth approximately $1,193,000. Goldman Sachs Group Inc. increased its stake in GoDaddy by 26.1% in the third quarter. Goldman Sachs Group Inc. now owns 646,398 shares of the technology company worth $45,054,000 after buying an additional 133,817 shares last quarter. Capital Insight Partners LLC increased its stake in GoDaddy by 6.8% in the fourth quarter. Capital Insight Partners LLC now owns 30,425 shares of the technology company worth $2,582,000 after buying 1,929 additional shares last quarter. Ararat Capital Management LP increased its stake in GoDaddy by 70.8% in the third quarter. Ararat Capital Management LP now owns 318,027 shares of the technology company worth $22,166,000 after buying an additional 131,879 shares last quarter. Finally, NN Investment Partners Holdings NV increased its stake in GoDaddy by 9.0% in the fourth quarter. NN Investment Partners Holdings NV now owns 73,162 shares of the technology company worth $6,209,000 after buying an additional 6,033 shares last quarter. Institutional investors and hedge funds own 98.38% of the company’s shares.
About GoDaddy (Get a rating)
GoDaddy Inc engages in the design and development of cloud-based technology products in the United States and internationally. The Company provides a domain name registration product that engages customers in the initial stage of establishing a digital identity. It also offers shared website hosting products that provide various applications and products, such as web analytics, Secure Sockets Layer and WordPress certificates; Hosting websites on virtual private servers and virtual dedicated server products, which allow customers to select the right server configuration for their applications, needs and growth; managed hosting products to configure, monitor, maintain, secure and patch software and servers for customers; and security products, a suite of tools designed to help secure customers’ online presence.
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