Brokerages Expect GoDaddy Inc. (NYSE:GDDY) Will Announce Quarterly Sales of $1.02 Billion

Wall Street brokerages expect GoDaddy Inc. (NYSE:GDDYGet Rating) to post sales of $1.02 billion for the current quarter, Zacks Investment Research reports. Eight analysts have made estimates for GoDaddy’s earnings, with estimates ranging from $1.01 billion to $1.02 billion. GoDaddy posted sales of $931.30 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 9.5%. The company is scheduled to report its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that GoDaddy will report full-year sales of $4.15 billion for the current financial year, with estimates ranging from $4.14 billion to $4.16 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $4.57 billion, with estimates ranging from $4.53 billion to $4.62 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that follow GoDaddy.

GoDaddy (NYSE:GDDYGet Rating) last posted its quarterly earnings data on Wednesday, May 4th. The technology company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.01). GoDaddy had a net margin of 7.66% and a negative return on equity of 231.58%. The company had revenue of $1 billion for the quarter, compared to the consensus estimate of $989.20 million. During the same period last year, the business earned $0.06 EPS. The firm’s quarterly revenue was up 11.3% on a year-over-year basis.

GDDY has been the topic of a number of research reports. Piper Sandler upgraded GoDaddy from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $94.00 to $110.00 in a research note on Monday, April 25th. Raymond James lifted their target price on GoDaddy from $100.00 to $107.00 and gave the company a “strong-buy” rating in a research report on Friday, February 11th. Zacks Investment Research upgraded GoDaddy from a “sell” rating to a “hold” rating and set a $82.00 target price on the stock in a research report on Friday, May 6th. Benchmark raised their price target on GoDaddy from $102.00 to $106.00 and gave the company a “buy” rating in a report on Thursday, May 5th. Finally, Morgan Stanley raised their price target on GoDaddy from $81.00 to $95.00 and gave the company an “equal weight” rating in a report on Monday, February 14th. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $100.70.

Shares of GDDY opened at $72.23 on Tuesday. The company has a market cap of $11.71 billion, a price-to-earnings ratio of 40.58, a P/E/G ratio of 2.18 and a beta of 0.96. GoDaddy has a 12 month low of $65.70 and a 12 month high of $90.43. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 46.37. The business’s fifty day simple moving average is $80.75 and its two-hundred day simple moving average is $77.58.

In other GoDaddy news, CEO Amanpal Singh Bhutani sold 1,987 shares of the business’s stock in a transaction that occurred on Monday, April 4th. The stock was sold at an average price of $86.51, for a total transaction of $171,895.37. Following the completion of the transaction, the chief executive officer now owns 224,051 shares in the company, valued at $19,382,652.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last quarter, insiders sold 17,533 shares of company stock valued at $1,434,125. 0.38% of the stock is currently owned by company insiders.

Several large investors have recently made changes to their positions in the business. Tealwood Asset Management Inc. purchased a new stake in shares of GoDaddy in the third quarter valued at approximately $1,193,000. Goldman Sachs Group Inc. raised its stake in GoDaddy by 26.1% in the third quarter. Goldman Sachs Group Inc. now owns 646,398 shares of the technology company’s stock worth $45,054,000 after buying an additional 133,817 shares in the last quarter. Capital Insight Partners LLC raised its stake in GoDaddy by 6.8% in the fourth quarter. Capital Insight Partners LLC now owns 30,425 shares of the technology company’s stock worth $2,582,000 after buying an additional 1,929 shares in the last quarter. Ararat Capital Management LP raised its stake in GoDaddy by 70.8% in the third quarter. Ararat Capital Management LP now owns 318,027 shares of the technology company’s stock worth $22,166,000 after buying an additional 131,879 shares in the last quarter. Finally, NN Investment Partners Holdings N.V. raised its stake in GoDaddy by 9.0% in the fourth quarter. NN Investment Partners Holdings N.V. now owns 73,162 shares of the technology company’s stock worth $6,209,000 after buying an additional 6,033 shares in the last quarter. Institutional investors and hedge funds 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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