Analysts Anticipate Godaddy Inc (GDDY) to Post $0.19 EPS

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Wall Street analysts expect Godaddy Inc (NYSE:GDDY) to announce $0.19 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Nine analysts have made estimates for Godaddy’s earnings. The lowest EPS estimate is $0.09 and the highest is $0.23. Godaddy reported earnings of $0.07 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 171.4%. The company is expected to issue its next quarterly earnings report after the market closes on Tuesday, November 6th.

On average, analysts expect that Godaddy will report full-year earnings of $0.55 per share for the current financial year, with EPS estimates ranging from $0.32 to $0.74. For the next financial year, analysts forecast that the business will post earnings of $1.05 per share, with EPS estimates ranging from $0.63 to $1.43. Zacks’ earnings per share averages are an average based on a survey of analysts that cover Godaddy.

Godaddy (NYSE:GDDY) last posted its earnings results on Thursday, August 2nd. The technology company reported $0.11 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.08 by $0.03. The firm had revenue of $652.00 million during the quarter, compared to analysts’ expectations of $643.59 million. Godaddy had a net margin of 5.83% and a return on equity of 8.78%. The company’s revenue was up 16.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.10 earnings per share.

GDDY has been the subject of a number of analyst reports. Zacks Investment Research upgraded shares of Godaddy from a “hold” rating to a “buy” rating and set a $88.00 target price for the company in a research note on Wednesday, July 25th. Barclays lifted their target price on shares of Godaddy from $77.00 to $84.00 and gave the company an “overweight” rating in a research note on Monday, July 23rd. Citigroup upgraded shares of Godaddy from a “neutral” rating to a “buy” rating in a research note on Thursday, October 11th. Morgan Stanley lifted their target price on shares of Godaddy from $72.00 to $81.00 and gave the company an “overweight” rating in a research note on Monday, August 6th. Finally, ValuEngine cut shares of Godaddy from a “strong-buy” rating to a “buy” rating in a research note on Thursday, October 11th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $77.60.

NYSE GDDY opened at $76.31 on Tuesday. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 3.56. The company has a market capitalization of $13.52 billion, a price-to-earnings ratio of 253.16, a price-to-earnings-growth ratio of 8.41 and a beta of 0.63. Godaddy has a 12-month low of $43.66 and a 12-month high of $84.97.

In related news, Director Robert R. Parsons sold 3,890,942 shares of the company’s stock in a transaction on Friday, August 17th. The shares were sold at an average price of $75.61, for a total transaction of $294,194,124.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Nima Kelly sold 661 shares of the company’s stock in a transaction on Monday, September 10th. The shares were sold at an average price of $80.41, for a total transaction of $53,151.01. Following the transaction, the executive vice president now owns 52,075 shares of the company’s stock, valued at $4,187,350.75. The disclosure for this sale can be found here. Insiders sold 7,800,557 shares of company stock valued at $590,768,080 over the last 90 days. 7.63% of the stock is owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in GDDY. BlackRock Inc. raised its stake in Godaddy by 61.1% during the 2nd quarter. BlackRock Inc. now owns 8,629,570 shares of the technology company’s stock valued at $609,247,000 after purchasing an additional 3,271,953 shares during the last quarter. Voya Investment Management LLC raised its stake in Godaddy by 599.6% during the 2nd quarter. Voya Investment Management LLC now owns 1,833,104 shares of the technology company’s stock valued at $129,417,000 after purchasing an additional 1,571,091 shares during the last quarter. Bank of America Corp DE raised its stake in Godaddy by 154.4% during the 2nd quarter. Bank of America Corp DE now owns 1,696,012 shares of the technology company’s stock valued at $119,738,000 after purchasing an additional 1,029,426 shares during the last quarter. Millennium Management LLC raised its stake in Godaddy by 157.6% during the 1st quarter. Millennium Management LLC now owns 1,072,631 shares of the technology company’s stock valued at $65,881,000 after purchasing an additional 656,261 shares during the last quarter. Finally, First Trust Advisors LP raised its stake in Godaddy by 20.8% during the 2nd quarter. First Trust Advisors LP now owns 3,549,257 shares of the technology company’s stock valued at $250,578,000 after purchasing an additional 611,798 shares during the last quarter. Hedge funds and other institutional investors own 93.61% of the company’s stock.

Godaddy Company Profile

GoDaddy Inc designs and develops cloud-based technology products for small businesses, Web design professionals, and individuals in the United States and internationally. It provides domain name registration product that enables to engage customers at the initial stage of establishing a digital identity; hosting products, such as shared Website hosting, Website hosting on virtual private servers and virtual dedicated servers, managed hosting, and security.

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