GoDaddy (NYSE:GDDY) Posts Quarterly Earnings Results, Misses Expectations By $0.06 EPS

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

GoDaddy Stock Up 7.0 %

GDDY stock traded up $9.84 on Friday, hitting $151.25. 2,407,777 shares of the company’s stock were exchanged, compared to its average volume of 1,159,537. The firm has a 50 day moving average price of $141.77 and a two-hundred day moving average price of $127.17. GoDaddy has a 12-month low of $69.18 and a 12-month high of $152.09. The stock has a market cap of $21.58 billion, a P/E ratio of 12.56 and a beta of 1.14. The company has a debt-to-equity ratio of 9.15, a quick ratio of 0.55 and a current ratio of 0.55.

Analyst Ratings Changes

A number of equities analysts have recently commented on GDDY shares. Royal Bank of Canada lifted their target price on GoDaddy from $124.00 to $145.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. Morgan Stanley boosted their price objective on shares of GoDaddy from $132.00 to $137.00 and gave the company an “equal weight” rating in a research report on Friday, May 3rd. B. Riley raised their target price on shares of GoDaddy from $143.00 to $170.00 and gave the stock a “buy” rating in a report on Friday, July 12th. Evercore ISI raised their price target on GoDaddy from $110.00 to $135.00 and gave the stock an “in-line” rating in a research note on Friday, May 3rd. Finally, Piper Sandler upped their target price on shares of GoDaddy from $145.00 to $160.00 and gave the stock an “overweight” rating in a research note on Friday. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $158.75.

Insider Activity at GoDaddy

In related news, CFO Mark Mccaffrey sold 4,058 shares of GoDaddy stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $133.69, for a total value of $542,514.02. Following the completion of the sale, the chief financial officer now directly owns 112,473 shares in the company, valued at approximately $15,036,515.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Mark Mccaffrey sold 4,058 shares of GoDaddy stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $133.69, for a total transaction of $542,514.02. Following the completion of the sale, the chief financial officer now owns 112,473 shares of the company’s stock, valued at $15,036,515.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Roger Chen sold 4,000 shares of the stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $138.84, for a total transaction of $555,360.00. Following the completion of the transaction, the chief operating officer now owns 196,632 shares in the company, valued at approximately $27,300,386.88. The disclosure for this sale can be found here. Insiders have sold 46,071 shares of company stock valued at $6,385,206 in the last ninety days. Corporate 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.