GoDaddy (GDDY) Set to Announce Earnings on Wednesday

GoDaddy (NYSE:GDDY) will be issuing its quarterly earnings data after the market closes on Wednesday, October 30th. Analysts expect the company to announce earnings of $1.25 per share for the quarter. GoDaddy has set its Q3 2024 guidance at EPS and its FY 2024 guidance at EPS.Parties that are interested in registering for the company’s conference call can do so using this link.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings results on Thursday, August 1st. The technology company reported $1.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.06). GoDaddy had a net margin of 41.12% and a negative return on equity of 709.73%. The business had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.11 billion. During the same quarter in the prior year, the firm earned $0.63 EPS. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. On average, analysts expect GoDaddy to post $5 EPS for the current fiscal year and $7 EPS for the next fiscal year.

GoDaddy Trading Down 0.6 %

NYSE GDDY opened at $160.53 on Monday. The company has a debt-to-equity ratio of 24.13, a quick ratio of 0.48 and a current ratio of 0.48. GoDaddy has a fifty-two week low of $71.15 and a fifty-two week high of $167.65. The stock has a market cap of $22.63 billion, a P/E ratio of 12.83 and a beta of 1.12. The stock has a 50 day simple moving average of $159.26 and a two-hundred day simple moving average of $145.92.

Insider Activity at GoDaddy

In other news, Director Sigal Zarmi sold 400 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $157.61, for a total value of $63,044.00. Following the sale, the director now directly owns 4,661 shares of the company’s stock, valued at approximately $734,620.21. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, COO Roger Chen sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $146.48, for a total value of $585,920.00. Following the completion of the transaction, the chief operating officer now directly owns 188,632 shares in the company, valued at $27,630,815.36. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sigal Zarmi sold 400 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $157.61, for a total value of $63,044.00. Following the completion of the transaction, the director now directly owns 4,661 shares in the company, valued at $734,620.21. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 32,744 shares of company stock valued at $5,114,931 in the last 90 days. Corporate insiders own 0.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Benchmark reiterated a “buy” rating and issued a $186.00 price target on shares of GoDaddy in a report on Tuesday, October 15th. Royal Bank of Canada lifted their target price on shares of GoDaddy from $145.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Cantor Fitzgerald reissued a “neutral” rating and issued a $170.00 price target on shares of GoDaddy in a research note on Monday, October 7th. B. Riley lifted their price objective on GoDaddy from $143.00 to $170.00 and gave the company a “buy” rating in a research report on Friday, July 12th. Finally, Raymond James increased their target price on GoDaddy from $150.00 to $175.00 and gave the stock a “strong-buy” rating in a research report on Friday, August 2nd. Five investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $166.54.

GoDaddy Company Profile

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.