GoDaddy Inc. (NYSE:GDDY) Forecasted to Earn FY2024 Earnings of $5.34 Per Share

GoDaddy Inc. (NYSE:GDDY) – Stock analysts at B. Riley lowered their FY2024 EPS estimates for shares of GoDaddy in a report issued on Monday, May 6th. B. Riley analyst N. Khan now forecasts that the technology company will earn $5.34 per share for the year, down from their previous estimate of $5.51. B. Riley currently has a “Buy” rating and a $142.00 price target on the stock. The consensus estimate for GoDaddy’s current full-year earnings is $4.93 per share. B. Riley also issued estimates for GoDaddy’s FY2026 earnings at $8.67 EPS, FY2027 earnings at $10.42 EPS and FY2028 earnings at $12.41 EPS.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings results on Tuesday, February 13th. The technology company reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.03 by $0.05. The business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.10 billion. GoDaddy had a negative return on equity of 186.09% and a net margin of 40.38%.

Several other analysts have also recently commented on GDDY. StockNews.com upgraded shares of GoDaddy from a “buy” rating to a “strong-buy” rating in a report on Wednesday, February 14th. Piper Sandler upped their price target on shares of GoDaddy from $130.00 to $145.00 and gave the stock an “overweight” rating in a research note on Thursday, March 7th. Benchmark reissued a “buy” rating and set a $150.00 price objective on shares of GoDaddy in a research report on Wednesday, May 1st. William Blair reaffirmed an “outperform” rating on shares of GoDaddy in a research report on Friday, May 3rd. Finally, UBS Group boosted their price target on GoDaddy from $118.00 to $130.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $142.73.

GoDaddy Trading Up 0.0 %

NYSE:GDDY opened at $131.40 on Wednesday. The stock has a market cap of $18.72 billion, a PE ratio of 10.91 and a beta of 1.09. GoDaddy has a fifty-two week low of $68.98 and a fifty-two week high of $132.00. The company has a debt-to-equity ratio of 9.15, a current ratio of 0.55 and a quick ratio of 0.47. The stock’s 50-day moving average is $121.00 and its two-hundred day moving average is $107.81.

Institutional Investors Weigh In On GoDaddy

A number of institutional investors have recently added to or reduced their stakes in the stock. V Square Quantitative Management LLC acquired a new position in shares of GoDaddy in the 4th quarter worth approximately $28,000. GAMMA Investing LLC raised its stake in GoDaddy by 102.3% during the first quarter. GAMMA Investing LLC now owns 263 shares of the technology company’s stock worth $31,000 after acquiring an additional 133 shares in the last quarter. Frazier Financial Advisors LLC bought a new position in shares of GoDaddy during the fourth quarter valued at $33,000. Massmutual Trust Co. FSB ADV grew its holdings in shares of GoDaddy by 140.4% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 351 shares of the technology company’s stock worth $37,000 after purchasing an additional 205 shares during the last quarter. Finally, Rise Advisors LLC acquired a new stake in shares of GoDaddy during the 1st quarter worth about $48,000. 90.28% of the stock is owned by institutional investors and hedge funds.

Insider Activity at GoDaddy

In other news, COO Roger Chen sold 4,000 shares of the firm’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $122.60, for a total value of $490,400.00. Following the sale, the chief operating officer now owns 200,632 shares in the company, valued at $24,597,483.20. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other GoDaddy news, CFO Mark Mccaffrey sold 624 shares of the business’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $120.83, for a total value of $75,397.92. Following the sale, the chief financial officer now owns 116,328 shares of the company’s stock, valued at approximately $14,055,912.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Roger Chen sold 4,000 shares of GoDaddy stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $122.60, for a total transaction of $490,400.00. Following the sale, the chief operating officer now owns 200,632 shares in the company, valued at $24,597,483.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 125,234 shares of company stock worth $14,025,346. 0.54% of the stock is owned by insiders.

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.