Godaddy Inc (NYSE:GDDY) – Equities research analysts at SunTrust Banks boosted their Q4 2019 earnings estimates for Godaddy in a note issued to investors on Thursday, November 7th, according to Zacks Investment Research. SunTrust Banks analyst N. Khan now anticipates that the technology company will post earnings of $0.27 per share for the quarter, up from their prior forecast of $0.26. SunTrust Banks has a “Buy” rating and a $90.00 price target on the stock. SunTrust Banks also issued estimates for Godaddy’s FY2020 earnings at $1.06 EPS, FY2021 earnings at $1.79 EPS, FY2022 earnings at $2.59 EPS and FY2023 earnings at $3.42 EPS.
Godaddy (NYSE:GDDY) last announced its quarterly earnings data on Wednesday, November 6th. The technology company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.20. Godaddy had a net margin of 4.10% and a return on equity of 19.05%. The company had revenue of $760.50 million for the quarter, compared to analysts’ expectations of $761.04 million. During the same period in the previous year, the company posted $0.08 EPS. Godaddy’s revenue was up 11.9% compared to the same quarter last year.
GDDY has been the topic of a number of other reports. Wedbush reaffirmed a “neutral” rating on shares of Godaddy in a research note on Monday, November 4th. ValuEngine raised shares of Godaddy from a “sell” rating to a “hold” rating in a research note on Friday. Finally, TheStreet raised shares of Godaddy from a “c+” rating to a “b-” rating in a research note on Monday, November 18th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $89.38.
Shares of NYSE:GDDY traded down $0.74 on Friday, reaching $65.64. 1,574,053 shares of the company were exchanged, compared to its average volume of 1,586,568. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 3.78. Godaddy has a 1-year low of $58.19 and a 1-year high of $82.30. The firm has a market cap of $11.44 billion, a price-to-earnings ratio of 104.19, a price-to-earnings-growth ratio of 6.03 and a beta of 0.67. The company has a 50-day moving average of $66.19 and a 200-day moving average of $68.26.
Several institutional investors have recently added to or reduced their stakes in GDDY. Redhawk Wealth Advisors Inc. purchased a new position in shares of Godaddy during the 2nd quarter valued at approximately $27,000. Commonwealth Bank of Australia lifted its stake in Godaddy by 80.1% during the second quarter. Commonwealth Bank of Australia now owns 508 shares of the technology company’s stock worth $35,000 after purchasing an additional 226 shares during the last quarter. CSat Investment Advisory L.P. bought a new position in Godaddy during the second quarter worth $66,000. Coastal Investment Advisors Inc. bought a new position in Godaddy during the third quarter worth $99,000. Finally, Parkside Financial Bank & Trust lifted its stake in Godaddy by 40.5% during the third quarter. Parkside Financial Bank & Trust now owns 1,738 shares of the technology company’s stock worth $115,000 after purchasing an additional 501 shares during the last quarter. Institutional investors own 97.39% of the company’s stock.
In other Godaddy news, COO Ah Kee Andrew Low sold 387 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $72.00, for a total value of $27,864.00. Following the completion of the sale, the chief operating officer now owns 101,723 shares of the company’s stock, valued at $7,324,056. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Raymond E. Winborne, Jr. sold 449 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $62.86, for a total transaction of $28,224.14. Following the completion of the sale, the chief financial officer now directly owns 87,885 shares of the company’s stock, valued at approximately $5,524,451.10. The disclosure for this sale can be found here. Insiders sold 27,378 shares of company stock valued at $1,887,090 in the last ninety days. 12.64% of the stock is owned by corporate insiders.
GoDaddy Inc designs and develops cloud-based technology products for small businesses, Web design professionals, and individuals 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; and hosting products, including shared Website hosting, Website hosting on virtual private servers and virtual dedicated servers, managed hosting, and security.
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