GoDaddy Inc. (NYSE:GDDY) Expected to Earn FY2024 Earnings of $5.34 Per Share

GoDaddy Inc. (NYSE:GDDY - Free Report) - Equities researchers at B. Riley cut their FY2024 earnings per share estimates for shares of GoDaddy in a report released on Monday, May 6th. B. Riley analyst N. Khan now forecasts that the technology company will earn $5.34 per share for the year, down from their prior estimate of $5.51. B. Riley has a "Buy" rating and a $142.00 price objective on the stock. The consensus estimate for GoDaddy's current full-year earnings is $4.93 per share. B. Riley also issued estimates for GoDaddy's FY2026 earnings at $8.67 EPS, FY2027 earnings at $10.42 EPS and FY2028 earnings at $12.41 EPS.

GoDaddy (NYSE:GDDY - Get Free Report) last issued its quarterly earnings data on Tuesday, February 13th. The technology company reported $1.08 earnings per share for the quarter, beating analysts' consensus estimates of $1.03 by $0.05. The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.10 billion. GoDaddy had a negative return on equity of 186.09% and a net margin of 40.38%.

A number of other brokerages also recently commented on GDDY. Raymond James started coverage on shares of GoDaddy in a report on Wednesday, March 27th. They issued a "strong-buy" rating and a $150.00 price target for the company. StockNews.com upgraded GoDaddy from a "buy" rating to a "strong-buy" rating in a report on Wednesday, February 14th. Evercore ISI increased their price target on GoDaddy from $110.00 to $135.00 and gave the company an "in-line" rating in a report on Friday, May 3rd. Morgan Stanley lifted their price objective on shares of GoDaddy from $132.00 to $137.00 and gave the stock an "equal weight" rating in a research note on Friday, May 3rd. Finally, Robert W. Baird increased their target price on shares of GoDaddy from $130.00 to $150.00 and gave the company an "outperform" rating in a research note on Monday, March 25th. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $142.73.

GoDaddy Price Performance

GoDaddy stock traded up $0.05 during mid-day trading on Wednesday, reaching $131.40. 995,806 shares of the company's stock traded hands, compared to its average volume of 1,468,069. GoDaddy has a 12-month low of $68.98 and a 12-month high of $132.00. The company has a market cap of $18.72 billion, a price-to-earnings ratio of 10.91 and a beta of 1.09. The stock has a 50 day moving average of $121.00 and a two-hundred day moving average of $107.81. The company has a quick ratio of 0.47, a current ratio of 0.55 and a debt-to-equity ratio of 9.15.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. V Square Quantitative Management LLC acquired a new stake in GoDaddy in the fourth quarter valued at approximately $28,000. GAMMA Investing LLC grew its stake in GoDaddy by 102.3% during the 1st quarter. GAMMA Investing LLC now owns 263 shares of the technology company's stock worth $31,000 after buying an additional 133 shares during the last quarter. Frazier Financial Advisors LLC acquired a new position in GoDaddy during the 4th quarter valued at about $33,000. Massmutual Trust Co. FSB ADV raised its stake in GoDaddy by 140.4% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 351 shares of the technology company's stock valued at $37,000 after buying an additional 205 shares during the last quarter. Finally, Fifth Third Bancorp acquired a new stake in GoDaddy in the third quarter worth about $43,000. Hedge funds and other institutional investors own 90.28% of the company's stock.

Insider Buying and Selling

In related news, CAO Nick Daddario sold 1,823 shares of the company's stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $110.54, for a total value of $201,514.42. Following the completion of the sale, the chief accounting officer now directly owns 25,263 shares of the company's stock, valued at $2,792,572.02. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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 sale, the chief operating officer now owns 208,632 shares of the company's stock, valued at $23,806,997.52. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Nick Daddario sold 1,823 shares of the business's stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $110.54, for a total transaction of $201,514.42. Following the completion of the transaction, the chief accounting officer now owns 25,263 shares of the company's stock, valued at $2,792,572.02. The disclosure for this sale can be found here. Insiders have sold a total of 125,234 shares of company stock valued at $14,025,346 over the last quarter. 0.54% of the stock is owned by corporate insiders.

GoDaddy Company Profile

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.