FY2023 EPS Estimates for GoDaddy Inc. (NYSE:GDDY) Raised by Analyst

GoDaddy Inc. (NYSE:GDDY) – B. Riley increased their FY2023 earnings estimates for shares of GoDaddy in a note issued to investors on Wednesday, September 13th. B. Riley analyst N. Khan now anticipates that the technology company will post earnings per share of $2.97 for the year, up from their previous estimate of $2.96. B. Riley has a “Buy” rating and a $107.00 price objective on the stock. The consensus estimate for GoDaddy’s current full-year earnings is $2.81 per share. B. Riley also issued estimates for GoDaddy’s FY2024 earnings at $4.24 EPS.

GDDY has been the topic of a number of other research reports. StockNews.com raised GoDaddy from a “hold” rating to a “buy” rating in a research report on Tuesday, September 5th. Royal Bank of Canada assumed coverage on GoDaddy in a research note on Monday, June 5th. They issued a “sector perform” rating and a $80.00 price target for the company. Barclays decreased their price target on GoDaddy from $98.00 to $95.00 and set an “overweight” rating for the company in a research note on Friday, August 4th. Piper Sandler restated a “neutral” rating and issued a $84.00 price target on shares of GoDaddy in a research note on Friday, August 4th. Finally, Benchmark restated a “buy” rating and issued a $95.00 price target on shares of GoDaddy in a research note on Wednesday. Three investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $92.45.

GoDaddy Trading Up 0.2 %

Shares of GDDY stock opened at $75.21 on Friday. The firm’s fifty day moving average price is $73.63 and its two-hundred day moving average price is $73.97. GoDaddy has a 1 year low of $64.65 and a 1 year high of $85.32. The firm has a market capitalization of $11.06 billion, a P/E ratio of 36.33 and a beta of 0.95.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings data on Thursday, August 3rd. The technology company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.08. GoDaddy had a net margin of 7.78% and a negative return on equity of 83.74%. The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.05 billion.

Insider Transactions at GoDaddy

In other news, insider Michele Lau sold 5,500 shares of GoDaddy stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $70.49, for a total transaction of $387,695.00. Following the completion of the transaction, the insider now directly owns 67,280 shares in the company, valued at approximately $4,742,567.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Michele Lau sold 5,500 shares of GoDaddy stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $70.49, for a total transaction of $387,695.00. Following the completion of the transaction, the insider now directly owns 67,280 shares in the company, valued at approximately $4,742,567.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Amanpal Singh Bhutani sold 2,016 shares of GoDaddy stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $74.93, for a total value of $151,058.88. Following the transaction, the chief executive officer now owns 273,125 shares of the company’s stock, valued at $20,465,256.25. The disclosure for this sale can be found here. In the last three months, insiders sold 44,419 shares of company stock worth $3,290,478. 0.54% of the stock is owned by company insiders.

Institutional Trading of GoDaddy

Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in GoDaddy by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 16,202,298 shares of the technology company’s stock worth $1,356,131,000 after purchasing an additional 107,949 shares during the last quarter. BlackRock Inc. lifted its holdings in GoDaddy by 23.6% during the 2nd quarter. BlackRock Inc. now owns 10,522,511 shares of the technology company’s stock worth $790,556,000 after purchasing an additional 2,010,233 shares during the last quarter. Starboard Value LP lifted its holdings in GoDaddy by 23.9% during the 4th quarter. Starboard Value LP now owns 10,233,055 shares of the technology company’s stock worth $765,637,000 after purchasing an additional 1,973,118 shares during the last quarter. Morgan Stanley lifted its holdings in GoDaddy by 517.4% during the 4th quarter. Morgan Stanley now owns 6,125,512 shares of the technology company’s stock worth $458,311,000 after purchasing an additional 5,133,332 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in GoDaddy by 1.8% during the 1st quarter. Ameriprise Financial Inc. now owns 4,934,195 shares of the technology company’s stock worth $383,486,000 after purchasing an additional 85,212 shares during the last quarter. 95.03% of the stock is owned by institutional investors and hedge funds.

About GoDaddy

GoDaddy Inc engages in the design and development of cloud-based products in the United States and internationally. It operates through two segments: Applications and Commerce and Core Platform. The Applications and Commerce segment provides applications products, including Websites + Marketing, a mobile-optimized online tool that enables customers to build websites and e-commerce enabled online stores; and Managed WordPress, a streamlined and optimized hosting platform that allows customers to build and manage a faster and more secure WordPress site and offered with WooCommerce to sell online; and marketing tools and services, such as GoDaddy Studio mobile application, search engine optimization, Meta and Google My Business listings, and email and social media marketing designed to help businesses acquire and engage customers and create content.