Godaddy Inc (NYSE:GDDY) – Stock analysts at Piper Jaffray Companies raised their FY2019 earnings estimates for Godaddy in a report released on Thursday, November 7th, Zacks Investment Research reports. Piper Jaffray Companies analyst M. Olson now forecasts that the technology company will earn $0.72 per share for the year, up from their prior estimate of $0.65. Piper Jaffray Companies also issued estimates for Godaddy’s Q4 2019 earnings at $0.30 EPS, Q1 2020 earnings at $0.13 EPS, Q3 2020 earnings at $0.33 EPS, Q4 2020 earnings at $0.40 EPS and FY2021 earnings at $1.52 EPS.
Godaddy (NYSE:GDDY) last announced its earnings results on Wednesday, November 6th. The technology company reported $0.42 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.20. Godaddy had a return on equity of 19.05% and a net margin of 4.10%. The business had revenue of $760.50 million during the quarter, compared to analysts’ expectations of $761.04 million. During the same quarter last year, the business posted $0.08 earnings per share. The company’s quarterly revenue was up 11.9% on a year-over-year basis.
Several other brokerages also recently commented on GDDY. ValuEngine raised Godaddy from a “sell” rating to a “hold” rating in a report on Friday. TheStreet raised Godaddy from a “c+” rating to a “b-” rating in a report on Monday, November 18th. Wedbush reaffirmed a “neutral” rating on shares of Godaddy in a report on Monday, November 4th. Finally, SunTrust Banks reaffirmed a “buy” rating and set a $90.00 target price on shares of Godaddy in a report on Friday, November 1st. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Godaddy presently has a consensus rating of “Buy” and a consensus price target of $89.38.
Shares of NYSE GDDY traded down $0.20 during mid-day trading on Friday, hitting $66.38. 598,890 shares of the company traded hands, compared to its average volume of 1,773,154. Godaddy has a 1 year low of $58.19 and a 1 year high of $82.30. The stock has a market capitalization of $11.47 billion, a price-to-earnings ratio of 105.37, a PEG ratio of 6.05 and a beta of 0.68. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 3.78. The business has a 50 day moving average of $65.91 and a two-hundred day moving average of $68.41.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Advisor Group Inc. raised its stake in shares of Godaddy by 1.5% during the 2nd quarter. Advisor Group Inc. now owns 10,545 shares of the technology company’s stock worth $740,000 after purchasing an additional 155 shares in the last quarter. Global Wealth Management Investment Advisory Inc. raised its stake in shares of Godaddy by 4.6% during the 2nd quarter. Global Wealth Management Investment Advisory Inc. now owns 3,827 shares of the technology company’s stock worth $268,000 after purchasing an additional 168 shares in the last quarter. First Hawaiian Bank raised its stake in shares of Godaddy by 2.0% during the 3rd quarter. First Hawaiian Bank now owns 9,280 shares of the technology company’s stock worth $612,000 after purchasing an additional 180 shares in the last quarter. World Asset Management Inc raised its stake in shares of Godaddy by 3.5% during the 2nd quarter. World Asset Management Inc now owns 5,777 shares of the technology company’s stock worth $405,000 after purchasing an additional 194 shares in the last quarter. Finally, Commonwealth Bank of Australia raised its stake in shares of Godaddy by 80.1% during the 2nd quarter. Commonwealth Bank of Australia now owns 508 shares of the technology company’s stock worth $35,000 after purchasing an additional 226 shares in the last quarter. 97.39% of the stock is owned by institutional investors.
In related news, COO Ah Kee Andrew Low sold 387 shares of the stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $72.00, for a total value of $27,864.00. Following the completion of the sale, the chief operating officer now directly owns 101,723 shares of the company’s stock, valued at approximately $7,324,056. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Raymond E. Winborne, Jr. sold 449 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $62.86, for a total value of $28,224.14. Following the sale, the chief financial officer now directly owns 87,885 shares of the company’s stock, valued at $5,524,451.10. The disclosure for this sale can be found here. Over the last three months, insiders sold 27,378 shares of company stock valued at $1,887,090. Company insiders own 12.64% of the company’s stock.
GoDaddy Inc designs and develops cloud-based technology products for small businesses, Web design professionals, and individuals in the United States and internationally. The company provides domain name registration product that enables to engage customers at the initial stage of establishing a digital identity; and hosting products, including shared Website hosting, Website hosting on virtual private servers and virtual dedicated servers, managed hosting, and security.
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