GoDaddy Inc. Forecasted to Post Q2 2024 Earnings of $1.24 Per Share (NYSE:GDDY)

GoDaddy Inc. (NYSE:GDDY) – Stock analysts at B. Riley reduced their Q2 2024 earnings per share (EPS) estimates for shares of GoDaddy in a report issued on Monday, May 6th. B. Riley analyst N. Khan now forecasts that the technology company will post earnings per share of $1.24 for the quarter, down from their prior forecast of $1.29. B. Riley has a “Buy” rating and a $142.00 price target on the stock. The consensus estimate for GoDaddy’s current full-year earnings is $4.93 per share. B. Riley also issued estimates for GoDaddy’s Q3 2024 earnings at $1.39 EPS, Q4 2024 earnings at $1.62 EPS and FY2025 earnings at $7.00 EPS.

GoDaddy (NYSE:GDDY) last posted its earnings results on Tuesday, February 13th. The technology company reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $1.03 by $0.05. The business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.10 billion. GoDaddy had a negative return on equity of 186.09% and a net margin of 40.38%.

GDDY has been the subject of a number of other research reports. William Blair reissued an “outperform” rating on shares of GoDaddy in a report on Friday, May 3rd. Benchmark restated a “buy” rating and issued a $150.00 price target on shares of GoDaddy in a research note on Wednesday, May 1st. Barclays raised their price target on GoDaddy from $130.00 to $150.00 and gave the stock an “overweight” rating in a research note on Friday, May 3rd. Royal Bank of Canada raised their price target on GoDaddy from $124.00 to $145.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. Finally, Morgan Stanley raised their price target on GoDaddy from $132.00 to $137.00 and gave the stock an “equal weight” rating in a research note on Friday, May 3rd. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $142.73.

GoDaddy Stock Up 0.0 %

GoDaddy stock opened at $131.40 on Tuesday. The firm has a market cap of $18.72 billion, a price-to-earnings ratio of 10.91 and a beta of 1.09. The stock has a fifty day simple moving average of $121.00 and a two-hundred day simple moving average of $107.81. GoDaddy has a 12 month low of $68.98 and a 12 month high of $132.00. The company has a current ratio of 0.55, a quick ratio of 0.47 and a debt-to-equity ratio of 9.15.

Institutional Investors Weigh In On GoDaddy

Several large investors have recently made changes to their positions in GDDY. Gulf International Bank UK Ltd increased its stake in GoDaddy by 0.9% during the first quarter. Gulf International Bank UK Ltd now owns 12,030 shares of the technology company’s stock worth $1,427,000 after acquiring an additional 113 shares during the last quarter. Sivia Capital Partners LLC increased its stake in GoDaddy by 3.9% during the first quarter. Sivia Capital Partners LLC now owns 3,023 shares of the technology company’s stock worth $359,000 after acquiring an additional 113 shares during the last quarter. Ingalls & Snyder LLC increased its stake in GoDaddy by 0.3% during the fourth quarter. Ingalls & Snyder LLC now owns 41,923 shares of the technology company’s stock worth $4,451,000 after acquiring an additional 120 shares during the last quarter. GAMMA Investing LLC increased its stake in GoDaddy by 102.3% during the first quarter. GAMMA Investing LLC now owns 263 shares of the technology company’s stock worth $31,000 after acquiring an additional 133 shares during the last quarter. Finally, Parkside Financial Bank & Trust increased its stake in GoDaddy by 7.6% during the third quarter. Parkside Financial Bank & Trust now owns 1,940 shares of the technology company’s stock worth $144,000 after acquiring an additional 137 shares during the last quarter. 90.28% of the stock is owned by institutional investors.

Insider Activity

In other news, CAO Nick Daddario sold 1,823 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $110.54, for a total value of $201,514.42. Following the transaction, the chief accounting officer now directly owns 25,263 shares in the company, valued at $2,792,572.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CAO Nick Daddario sold 1,823 shares of GoDaddy stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $110.54, for a total value of $201,514.42. Following the sale, the chief accounting officer now directly owns 25,263 shares of the company’s stock, valued at $2,792,572.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Roger Chen sold 4,000 shares of GoDaddy stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $114.11, for a total value of $456,440.00. Following the completion of the sale, the chief operating officer now directly owns 208,632 shares in the company, valued at $23,806,997.52. The disclosure for this sale can be found here. Insiders have sold 125,234 shares of company stock worth $14,025,346 over the last ninety days. Corporate insiders own 0.54% of the company’s stock.

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 website building that allows customers to easily build and manage a faster WordPress site; Managed WooCommerce Stores to sell anything and anywhere online; and marketing tools and services, such as GoDaddy Studio mobile application, search engine optimization, Meta and Google My Business, and email and social media marketing designed to help businesses acquire and engage customers and create content.