GoDaddy (GDDY) Scheduled to Post Earnings on Wednesday

GoDaddy (NYSE:GDDY) is scheduled to be posting its quarterly earnings results on Wednesday, April 3rd. GoDaddy has set its FY 2024 guidance at EPS and its Q1 2024 guidance at EPS.

GoDaddy (NYSE:GDDY) last released its quarterly earnings data on Tuesday, February 13th. The technology company reported $1.08 EPS for the quarter, topping the consensus estimate of $1.03 by $0.05. GoDaddy had a negative return on equity of 89.25% and a net margin of 32.74%. The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.10 billion. On average, analysts expect GoDaddy to post $5 EPS for the current fiscal year and $6 EPS for the next fiscal year.

GoDaddy Trading Up 2.1 %

Shares of NYSE:GDDY opened at $121.14 on Tuesday. GoDaddy has a 1 year low of $67.43 and a 1 year high of $122.83. The firm has a market capitalization of $17.26 billion, a price-to-earnings ratio of 12.65 and a beta of 1.12. The company has a debt-to-equity ratio of 61.07, a current ratio of 0.47 and a quick ratio of 0.47. The business’s 50 day moving average price is $113.49 and its 200-day moving average price is $98.55.

Insider Buying and Selling

In related news, CFO Mark Mccaffrey sold 505 shares of the firm’s stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $102.47, for a total transaction of $51,747.35. Following the completion of the sale, the chief financial officer now directly owns 77,158 shares of the company’s stock, valued at approximately $7,906,380.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, COO Roger Chen sold 4,000 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $114.11, for a total transaction of $456,440.00. Following the completion of the transaction, the chief operating officer now directly owns 208,632 shares in the company, valued at approximately $23,806,997.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Mark Mccaffrey sold 505 shares of the firm’s stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $102.47, for a total value of $51,747.35. Following the transaction, the chief financial officer now owns 77,158 shares of the company’s stock, valued at $7,906,380.26. The disclosure for this sale can be found here. In the last ninety days, insiders sold 117,115 shares of company stock valued at $13,037,055. 0.54% of the stock is currently owned by insiders.

Hedge Funds Weigh In On GoDaddy

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Achmea Investment Management B.V. purchased a new position in shares of GoDaddy in the 1st quarter valued at about $31,000. Steward Partners Investment Advisory LLC raised its position in shares of GoDaddy by 34.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 541 shares of the technology company’s stock worth $57,000 after acquiring an additional 138 shares in the last quarter. Penserra Capital Management LLC acquired a new stake in shares of GoDaddy during the 4th quarter worth about $62,000. UniSuper Management Pty Ltd acquired a new stake in shares of GoDaddy during the 2nd quarter worth about $83,000. Finally, Groupama Asset Managment acquired a new stake in shares of GoDaddy during the 4th quarter worth about $98,000. Hedge funds and other institutional investors own 90.28% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on GDDY shares. Evercore ISI lowered GoDaddy from an “outperform” rating to an “in-line” rating and increased their target price for the company from $100.00 to $110.00 in a research report on Wednesday, February 14th. StockNews.com raised GoDaddy from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, February 14th. B. Riley increased their price objective on GoDaddy from $124.00 to $142.00 and gave the company a “buy” rating in a research note on Thursday, March 7th. UBS Group increased their price objective on GoDaddy from $110.00 to $118.00 and gave the company a “neutral” rating in a research note on Wednesday, February 14th. Finally, Benchmark reissued a “buy” rating and issued a $150.00 price objective on shares of GoDaddy in a research note on Thursday, March 7th. Four analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, GoDaddy currently has a consensus rating of “Moderate Buy” and an average price target of $135.10.

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.