Equities Analysts Set Expectations for GoDaddy Inc.’s Q1 2023 Earnings (NYSE:GDDY)

GoDaddy Inc. (NYSE:GDDYGet Rating) – Equities research analysts at William Blair upped their Q1 2023 earnings per share estimates for GoDaddy in a report released on Thursday, May 5th. William Blair analyst M. Pfau now anticipates that the technology company will post earnings per share of $0.67 for the quarter, up from their prior estimate of $0.66.

GoDaddy (NYSE:GDDYGet Rating) last issued its earnings results on Wednesday, May 4th. The technology company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.01). The firm had revenue of $1 billion during the quarter, compared to the consensus estimate of $989.20 million. GoDaddy had a net margin of 7.66% and a negative return on equity of 1,824.95%. The business’s quarterly revenue was up 11.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.06 earnings per share.

Other research analysts have also recently issued reports about the stock. Morgan Stanley lifted their price objective on shares of GoDaddy from $81.00 to $95.00 and gave the company an “equal weight” rating in a report on Monday, February 14th. Piper Sandler upgraded GoDaddy from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $94.00 to $110.00 in a report on Monday, April 25th. StockNews.com began coverage on GoDaddy in a research note on Thursday, March 31st. They issued a “buy” rating for the company. Benchmark lifted their target price on GoDaddy from $102.00 to $106.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Zacks Investment Research upgraded shares of GoDaddy from a “sell” rating to a “hold” rating and set a $82.00 target price on the stock in a research note on Friday. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $100.70.

NYSE GDDY opened at $76.98 on Monday. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 46.37. GoDaddy has a 52 week low of $65.70 and a 52 week high of $90.43. The business has a 50 day moving average price of $82.63 and a 200-day moving average price of $77.51. The company has a market cap of $12.89 billion, a price-to-earnings ratio of 43.25, a P/E/G ratio of 2.36 and a beta of 0.96.

In other news, CAO Nick Daddario sold 1,400 shares of GoDaddy stock in a transaction that occurred on Tuesday, February 15th. The stock was sold at an average price of $82.47, for a total value of $115,458.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Amanpal Singh Bhutani sold 6,026 shares of the firm’s stock in a transaction dated Wednesday, March 2nd. The stock was sold at an average price of $81.96, for a total transaction of $493,890.96. The disclosure for this sale can be found here. Insiders have sold 18,933 shares of company stock worth $1,549,583 over the last ninety days. Insiders own 0.38% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Morgan Stanley lifted its position in GoDaddy by 73.1% in the 2nd quarter. Morgan Stanley now owns 340,335 shares of the technology company’s stock valued at $29,595,000 after acquiring an additional 143,697 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of GoDaddy by 10.7% during the third quarter. PNC Financial Services Group Inc. now owns 17,155 shares of the technology company’s stock valued at $1,197,000 after purchasing an additional 1,662 shares in the last quarter. Advisor Group Holdings Inc. boosted its position in shares of GoDaddy by 6.7% during the third quarter. Advisor Group Holdings Inc. now owns 24,157 shares of the technology company’s stock valued at $1,684,000 after buying an additional 1,526 shares during the last quarter. Truist Financial Corp increased its holdings in GoDaddy by 2.7% in the 3rd quarter. Truist Financial Corp now owns 43,971 shares of the technology company’s stock worth $3,065,000 after buying an additional 1,154 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its position in GoDaddy by 113.2% in the 3rd quarter. Russell Investments Group Ltd. now owns 189,585 shares of the technology company’s stock worth $13,211,000 after buying an additional 100,652 shares during the last quarter. Hedge funds and other institutional investors own 98.38% of the company’s stock.

About GoDaddy (Get Rating)

GoDaddy Inc engages in the design and development of cloud-based technology products 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. It also offers shared Website hosting products that provide various applications and products, such as web analytics, Secure Sockets Layer certificates, and WordPress; Website hosting on virtual private servers and virtual dedicated servers products, which allows customers to select the server configuration suited for their applications, requirements, and growth; managed hosting products to set up, monitor, maintain, secure, and patch software and servers for customers; and security products, a suite of tools designed to help secure customers' online presence.

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Earnings History and Estimates for GoDaddy (NYSE:GDDY)

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