GoDaddy (NYSE:GDDY) Announces Earnings Results

GoDaddy (NYSE:GDDY) issued its quarterly earnings results on Thursday. The technology company reported $1.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.06), Briefing.com reports. GoDaddy had a net margin of 41.12% and a negative return on equity of 363.95%. The company had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same quarter in the previous year, the company posted $0.63 EPS. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. GoDaddy updated its Q3 2024 guidance to EPS and its FY 2024 guidance to EPS.

GoDaddy Stock Performance

NYSE GDDY traded up $9.84 during mid-day trading on Friday, reaching $151.25. 2,407,777 shares of the stock were exchanged, compared to its average volume of 1,159,537. The company has a debt-to-equity ratio of 9.15, a quick ratio of 0.55 and a current ratio of 0.55. The business’s 50 day moving average is $141.77 and its 200-day moving average is $127.17. The company has a market capitalization of $21.58 billion, a P/E ratio of 12.56 and a beta of 1.14. GoDaddy has a 1 year low of $69.18 and a 1 year high of $152.09.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on GDDY. Benchmark restated a “buy” rating and set a $158.00 price target on shares of GoDaddy in a research note on Monday, July 29th. Evercore ISI upped their price target on shares of GoDaddy from $110.00 to $135.00 and gave the company an “in-line” rating in a research note on Friday, May 3rd. UBS Group upped their price objective on shares of GoDaddy from $118.00 to $130.00 and gave the company a “neutral” rating in a report on Friday, May 3rd. Morgan Stanley upped their price objective on shares of GoDaddy from $132.00 to $137.00 and gave the company an “equal weight” rating in a report on Friday, May 3rd. Finally, JPMorgan Chase & Co. upped their price objective on shares of GoDaddy from $136.00 to $175.00 and gave the company an “overweight” rating in a report on Wednesday, May 29th. Four equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $158.75.

Insiders Place Their Bets

In other GoDaddy news, Director Leah Sweet sold 1,000 shares of the company’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $141.59, for a total transaction of $141,590.00. Following the completion of the transaction, the director now directly owns 11,317 shares in the company, valued at $1,602,374.03. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other GoDaddy news, Director Leah Sweet sold 1,000 shares of the company’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $141.59, for a total transaction of $141,590.00. Following the completion of the transaction, the director now directly owns 11,317 shares in the company, valued at $1,602,374.03. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Roger Chen sold 4,000 shares of the stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $138.84, for a total transaction of $555,360.00. Following the completion of the sale, the chief operating officer now owns 196,632 shares of the company’s stock, valued at $27,300,386.88. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 46,071 shares of company stock worth $6,385,206. Company insiders own 0.61% of the company’s stock.

About GoDaddy

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.