GoDaddy (NYSE:GDDY) Releases Earnings Results, Beats Expectations By $0.22 EPS

GoDaddy (NYSE:GDDY) released its earnings results on Tuesday. The technology company reported $1.80 EPS for the quarter, topping the consensus estimate of $1.58 by $0.22, FiscalAI reports. GoDaddy had a return on equity of 231.34% and a net margin of 17.01%.The firm had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.27 billion.

GoDaddy Stock Performance

Shares of NYSE GDDY traded up $4.61 during mid-day trading on Tuesday, hitting $92.37. 3,503,978 shares of the company were exchanged, compared to its average volume of 1,853,865. The stock has a 50 day simple moving average of $108.03 and a 200-day simple moving average of $126.13. GoDaddy has a 1-year low of $86.78 and a 1-year high of $193.55. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 41.06. The firm has a market cap of $12.48 billion, a price-to-earnings ratio of 15.95, a price-to-earnings-growth ratio of 0.82 and a beta of 0.94.

Insiders Place Their Bets

In related news, CEO Amanpal Singh Bhutani sold 6,932 shares of the firm’s stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $127.94, for a total value of $886,880.08. Following the completion of the sale, the chief executive officer owned 399,133 shares in the company, valued at $51,065,076.02. This trade represents a 1.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Mark Mccaffrey sold 3,317 shares of GoDaddy stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $127.94, for a total value of $424,376.98. Following the completion of the sale, the chief financial officer directly owned 66,816 shares in the company, valued at $8,548,439.04. This represents a 4.73% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 13,615 shares of company stock worth $1,743,102. 0.70% of the stock is owned by insiders.

Institutional Trading of GoDaddy

Hedge funds have recently modified their holdings of the business. Brown Brothers Harriman & Co. raised its position in GoDaddy by 145.6% in the third quarter. Brown Brothers Harriman & Co. now owns 253 shares of the technology company’s stock worth $35,000 after acquiring an additional 150 shares in the last quarter. GW&K Investment Management LLC increased its holdings in shares of GoDaddy by 57.6% in the 4th quarter. GW&K Investment Management LLC now owns 498 shares of the technology company’s stock valued at $62,000 after purchasing an additional 182 shares in the last quarter. CIBC Private Wealth Group LLC increased its holdings in shares of GoDaddy by 67.1% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 610 shares of the technology company’s stock valued at $83,000 after purchasing an additional 245 shares in the last quarter. Los Angeles Capital Management LLC acquired a new stake in shares of GoDaddy in the fourth quarter valued at about $80,000. Finally, Osterweis Capital Management Inc. purchased a new stake in GoDaddy during the second quarter worth about $152,000. 90.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on GDDY. Jefferies Financial Group decreased their price target on shares of GoDaddy from $140.00 to $100.00 and set a “hold” rating for the company in a research note on Monday. Benchmark cut their price target on GoDaddy from $240.00 to $210.00 and set a “buy” rating on the stock in a research note on Monday. JPMorgan Chase & Co. dropped their price objective on GoDaddy from $222.00 to $200.00 and set an “overweight” rating on the stock in a report on Friday, October 31st. B. Riley Financial decreased their target price on GoDaddy from $225.00 to $215.00 and set a “buy” rating for the company in a research note on Friday, October 31st. Finally, Citigroup dropped their price target on shares of GoDaddy from $214.00 to $195.00 and set a “buy” rating on the stock in a research note on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $161.21.

GoDaddy Company Profile

GoDaddy is a technology company that provides a suite of online services aimed primarily at small businesses, entrepreneurs and individuals looking to establish and grow an online presence. The company’s core activities include domain name registration and aftermarket services, a range of website hosting options, and tools for building, managing and promoting websites. Its product mix is designed to simplify the technical aspects of running a website so customers can focus on their businesses.

Product and service offerings span website builders and managed WordPress hosting, shared and dedicated hosting, e-commerce capabilities, email and productivity solutions, SSL certificates and site security tools, and online marketing and search engine optimization services.