GoDaddy Inc. (NYSE:GDDY – Get Rating) – Research analysts at Jefferies Financial Group raised their fiscal 2022 earnings estimates for GoDaddy shares in a report released Thursday, August 4. Jefferies Financial Group analyst B. Thill now expects the technology company to post earnings per share of $2.28 for the year, up from its previous forecast of $2.03. The consensus estimate for GoDaddy’s current annual earnings is $2.07 per share. Jefferies Financial Group also released estimates for GoDaddy’s fourth quarter 2022 earnings at $0.68 EPS and full-year 2023 earnings at $2.95 EPS.
GoDaddy (NYSE:GDDY – Get Rating) last released its quarterly results on Wednesday, May 4. The tech company reported earnings per share of $0.41 for the quarter, missing analyst consensus estimates of $0.42 per ($0.01). GoDaddy had a net margin of 8.58% and a negative return on equity of 211.78%. The company posted revenue of $1 billion in the quarter, against analyst estimates of $989.20 million. In the same quarter a year earlier, the company posted earnings per share of $0.06. The company’s revenue for the quarter increased 11.3% year over year.
A number of other research companies have also weighed in on GDDY recently. Morgan Stanley raised its price target on GoDaddy shares from $91.00 to $93.00 and gave the company an “equal weight” rating in a research note on Thursday. Raymond James cut his price target on GoDaddy shares from $108.00 to $100.00 and set a “strong buy” rating on the stock in a research note on Thursday. Benchmark raised its price target on GoDaddy shares from $102.00 to $106.00 and gave the company a “buy” rating in a Thursday, May 5, research rating. Barclays raised its price target on GoDaddy shares from $104.00 to $107.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Piper Sandler upgraded GoDaddy’s shares from a “neutral” rating to an “overweight” rating and raised the stock’s target price from $94.00 to $110.00 in a research report from the Monday, April 25. Two analysts gave the stock a hold rating, seven issued a buy rating and one gave the company a strong buy rating. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $100.80.
GoDaddy negotiates up to 2.5%
GDDY opened at $77.49 on Friday. The company’s 50-day moving average is $71.52 and its 200-day moving average is $76.58. GoDaddy has a 1-year minimum of $64.81 and a 1-year maximum of $88.32. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt ratio of 46.37. The company has a market capitalization of $12.56 billion, a P/E ratio of 37.43 and a beta of 0.95.
GoDaddy Institutional Trading
Several hedge funds have recently changed their holdings to GDDY. Ellevest Inc. increased its stake in GoDaddy by 1,340.9% during Q1. Ellevest Inc. now owns 317 shares of the technology company valued at $27,000 after buying an additional 295 shares last quarter. Achmea Investment Management BV bought a new stake in GoDaddy during Q1 worth $31,000. Norwood Financial Corp bought a new stake in GoDaddy during Q4 for $34,000. IndexIQ Advisors LLC purchased a new stake in GoDaddy during Q1 for $37,000. Finally, Vigilant Capital Management LLC purchased a new stake in GoDaddy during Q2 for $41,000. Institutional investors hold 98.38% of the company’s shares.
Insiders place their bets
In other GoDaddy news, insider Michele Lau sold 7,274 shares of the company in a trade that took place on Tuesday, August 2. The shares were sold at an average price of $73.88, for a total transaction of $537,403.12. Following the completion of the transaction, the insider now owns 63,009 shares of the company, valued at approximately $4,655,104.92. The transaction was disclosed in a document filed with the SEC, which can be accessed on the SEC’s website. In other GoDaddy news, insider Michele Lau sold 7,274 shares of the company in a trade that took place on Tuesday, August 2. The shares were sold at an average price of $73.88, for a total transaction of $537,403.12. Following the completion of the transaction, the insider now owns 63,009 shares of the company, valued at approximately $4,655,104.92. The transaction was disclosed in a document filed with the SEC, which can be accessed on the SEC’s website. Additionally, CEO Amanpal Singh Bhutani sold 1,516 GoDaddy shares in a trade on Thursday, June 2. The shares were sold at an average price of $73.76, for a total transaction of $111,820.16. Following the completion of the sale, the CEO now owns 222,535 shares of the company, valued at approximately $16,414,181.60. The disclosure of this sale can be found here. In the past 90 days, insiders have sold 20,716 shares of the company worth $1,482,907. 0.37% of the shares are currently held by insiders.
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GoDaddy Inc engages in the design and development of cloud-based technology products in the United States and internationally. The Company provides a domain name registration product that engages customers in the initial stage of establishing a digital identity. It also offers shared website hosting products that provide various applications and products, such as web analytics, Secure Sockets Layer and WordPress certificates; Hosting websites on virtual private servers and dedicated virtual server products, which allow customers to select the right server configuration for their applications, needs and growth; managed hosting products to configure, monitor, maintain, secure and patch software and servers for customers; and security products, a suite of tools designed to help secure customers’ online presence.
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