What is B. Riley’s Estimate for GoDaddy FY2024 Earnings?

GoDaddy Inc. (NYSE:GDDY) – Stock analysts at B. Riley dropped their FY2024 earnings estimates for shares of GoDaddy in a note issued to investors on Thursday, October 31st. B. Riley analyst N. Khan now anticipates that the technology company will post earnings per share of $5.10 for the year, down from their previous forecast of $5.18. B. Riley has a “Buy” rating and a $190.00 price target on the stock. The consensus estimate for GoDaddy’s current full-year earnings is $5.07 per share. B. Riley also issued estimates for GoDaddy’s Q4 2024 earnings at $1.60 EPS, Q1 2025 earnings at $1.68 EPS, Q2 2025 earnings at $1.75 EPS, Q3 2025 earnings at $1.98 EPS, Q4 2025 earnings at $2.15 EPS, FY2025 earnings at $7.54 EPS, FY2026 earnings at $10.01 EPS, FY2027 earnings at $12.45 EPS and FY2028 earnings at $15.31 EPS.

GoDaddy (NYSE:GDDY) last posted its earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.07. The business had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.14 billion. GoDaddy had a return on equity of 313.25% and a net margin of 41.74%. The business’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.89 EPS.

GDDY has been the subject of several other research reports. Raymond James upped their price target on shares of GoDaddy from $150.00 to $175.00 and gave the company a “strong-buy” rating in a research report on Friday, August 2nd. Benchmark lifted their price objective on shares of GoDaddy from $186.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday. Cantor Fitzgerald reiterated a “neutral” rating and set a $170.00 target price on shares of GoDaddy in a research note on Monday, October 7th. Robert W. Baird boosted their price target on GoDaddy from $190.00 to $200.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, Royal Bank of Canada increased their price objective on GoDaddy from $175.00 to $190.00 and gave the stock an “outperform” rating in a research report on Friday. Five analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $171.38.

GoDaddy Price Performance

Shares of NYSE GDDY opened at $163.37 on Friday. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 24.13. The stock has a market cap of $23.03 billion, a P/E ratio of 12.61 and a beta of 1.12. The stock has a 50 day moving average of $159.17 and a two-hundred day moving average of $146.82. GoDaddy has a twelve month low of $74.12 and a twelve month high of $171.93.

Insiders Place Their Bets

In other GoDaddy news, Director Sigal Zarmi sold 400 shares of the business’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $157.61, for a total transaction of $63,044.00. Following the sale, the director now directly owns 4,661 shares in the company, valued at approximately $734,620.21. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Sigal Zarmi sold 400 shares of the company’s stock in a transaction that occurred 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 owns 4,661 shares in the company, valued at $734,620.21. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Mark Mccaffrey sold 5,500 shares of GoDaddy stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $164.75, for a total value of $906,125.00. Following the transaction, the chief financial officer now directly owns 101,286 shares of the company’s stock, valued at approximately $16,686,868.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 25,744 shares of company stock worth $4,089,571. 0.61% of the stock is owned by corporate insiders.

Institutional Trading of GoDaddy

A number of large investors have recently made changes to their positions in GDDY. ORG Wealth Partners LLC purchased a new position in GoDaddy in the 3rd quarter valued at about $30,000. Transcendent Capital Group LLC purchased a new stake in shares of GoDaddy during the second quarter worth about $28,000. ORG Partners LLC acquired a new position in shares of GoDaddy in the second quarter valued at approximately $32,000. International Assets Investment Management LLC purchased a new position in shares of GoDaddy during the second quarter valued at approximately $36,000. Finally, Carolina Wealth Advisors LLC acquired a new stake in GoDaddy during the third quarter worth approximately $49,000. Institutional investors and hedge funds own 90.28% 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.