Brokerages predict that Godaddy Inc (NYSE:GDDY) will report sales of $777.01 million for the current quarter, according to Zacks Investment Research. Nine analysts have provided estimates for Godaddy’s earnings, with the lowest sales estimate coming in at $775.19 million and the highest estimate coming in at $780.03 million. Godaddy reported sales of $695.80 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 11.7%. The business is scheduled to issue its next earnings report on Wednesday, February 19th.
According to Zacks, analysts expect that Godaddy will report full year sales of $2.98 billion for the current fiscal year, with estimates ranging from $2.98 billion to $2.99 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $3.31 billion, with estimates ranging from $3.28 billion to $3.33 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Godaddy.
Godaddy (NYSE:GDDY) last released its earnings results on Wednesday, November 6th. The technology company reported $0.42 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.20. The firm had revenue of $760.50 million during the quarter, compared to analysts’ expectations of $761.04 million. Godaddy had a return on equity of 19.05% and a net margin of 4.10%. The company’s revenue was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.08 EPS.
GDDY has been the subject of a number of research reports. SunTrust Banks reiterated a “buy” rating and set a $90.00 target price on shares of Godaddy in a report on Friday, November 1st. TheStreet upgraded Godaddy from a “c+” rating to a “b-” rating in a report on Monday, November 18th. Wedbush reiterated a “neutral” rating on shares of Godaddy in a report on Monday, November 4th. ValuEngine upgraded Godaddy from a “sell” rating to a “hold” rating in a report on Friday, November 29th. Finally, Royal Bank of Canada initiated coverage on Godaddy in a report on Thursday. They set a “buy” rating and a $81.00 target price for the company. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $88.44.
GDDY stock traded up $0.20 during trading hours on Friday, reaching $68.76. 922,589 shares of the stock were exchanged, compared to its average volume of 1,210,338. The firm’s 50-day moving average is $67.87 and its 200-day moving average is $67.32. The company has a market cap of $11.85 billion, a price-to-earnings ratio of 109.14, a PEG ratio of 4.11 and a beta of 0.67. The company has a debt-to-equity ratio of 3.78, a current ratio of 0.75 and a quick ratio of 0.75. Godaddy has a 12 month low of $59.93 and a 12 month high of $82.30.
In other news, COO Ah Kee Andrew Low sold 387 shares of the firm’s 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 transaction, the chief operating officer now owns 101,723 shares in the company, valued at approximately $7,324,056. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Nima Kelly sold 576 shares of the firm’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $66.82, for a total value of $38,488.32. Following the completion of the transaction, the insider now owns 126,226 shares of the company’s stock, valued at approximately $8,434,421.32. The disclosure for this sale can be found here. Insiders sold a total of 27,160 shares of company stock valued at $1,884,952 in the last 90 days. 12.64% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in GDDY. Redhawk Wealth Advisors Inc. acquired a new position in Godaddy during the second quarter worth approximately $27,000. Commonwealth Bank of Australia increased its position in Godaddy by 80.1% during the second quarter. Commonwealth Bank of Australia now owns 508 shares of the technology company’s stock worth $35,000 after buying an additional 226 shares during the last quarter. CSat Investment Advisory L.P. acquired a new position in Godaddy during the second quarter worth approximately $66,000. Coastal Investment Advisors Inc. acquired a new position in Godaddy during the third quarter worth approximately $99,000. Finally, Parkside Financial Bank & Trust increased its position in Godaddy by 40.5% during the third quarter. Parkside Financial Bank & Trust now owns 1,738 shares of the technology company’s stock worth $115,000 after buying an additional 501 shares during the last quarter. 96.57% of the stock is currently owned by hedge funds and other institutional investors.
Godaddy Company Profile
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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