FY2024 EPS Estimates for GoDaddy Boosted by Seaport Res Ptn

GoDaddy Inc. (NYSE:GDDY) – Research analysts at Seaport Res Ptn raised their FY2024 earnings estimates for shares of GoDaddy in a note issued to investors on Thursday, October 31st. Seaport Res Ptn analyst A. Kessler now expects that the technology company will post earnings per share of $5.03 for the year, up from their prior estimate of $4.95. The consensus estimate for GoDaddy’s current full-year earnings is $5.13 per share.

Other equities research analysts have also issued research reports about the stock. Raymond James raised their target price on shares of GoDaddy from $150.00 to $175.00 and gave the stock a “strong-buy” rating in a report on Friday, August 2nd. Robert W. Baird upped their target price on GoDaddy from $190.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Barclays increased their price target on GoDaddy from $165.00 to $185.00 and gave the stock an “overweight” rating in a report on Wednesday, September 25th. StockNews.com raised GoDaddy from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 31st. Finally, Benchmark increased their target price on GoDaddy from $186.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Five equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $171.38.

GoDaddy Stock Performance

NYSE:GDDY opened at $167.63 on Monday. The firm has a market capitalization of $23.63 billion, a PE ratio of 12.95 and a beta of 1.11. The stock’s fifty day moving average is $159.27 and its 200 day moving average is $148.10. GoDaddy has a fifty-two week low of $84.78 and a fifty-two week high of $171.93. The company has a debt-to-equity ratio of 10.61, a quick ratio of 0.56 and a current ratio of 0.56.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings data on Wednesday, October 30th. The technology company reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.07. The business had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.14 billion. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. The company’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.89 earnings per share.

Institutional Trading of GoDaddy

Institutional investors have recently modified their holdings of the company. Highland Capital Management LLC purchased a new stake in GoDaddy during the third quarter valued at approximately $1,132,000. Plato Investment Management Ltd boosted its position in shares of GoDaddy by 2,471.0% in the 1st quarter. Plato Investment Management Ltd now owns 6,479 shares of the technology company’s stock worth $769,000 after purchasing an additional 6,227 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its stake in GoDaddy by 20.0% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 214,514 shares of the technology company’s stock worth $25,469,000 after buying an additional 35,703 shares during the last quarter. Forsta AP Fonden increased its position in GoDaddy by 87.5% during the 1st quarter. Forsta AP Fonden now owns 84,000 shares of the technology company’s stock valued at $9,969,000 after buying an additional 39,200 shares in the last quarter. Finally, Swedbank AB raised its stake in GoDaddy by 3.5% in the second quarter. Swedbank AB now owns 153,353 shares of the technology company’s stock valued at $21,425,000 after buying an additional 5,247 shares during the last quarter. 90.28% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other GoDaddy news, CFO Mark Mccaffrey sold 5,500 shares of the stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $164.75, for a total transaction of $906,125.00. Following the transaction, the chief financial officer now directly owns 101,286 shares in the company, valued at $16,686,868.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other GoDaddy news, CFO Mark Mccaffrey sold 5,500 shares of the stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $164.75, for a total transaction of $906,125.00. Following the sale, the chief financial officer now owns 101,286 shares of the company’s stock, valued at approximately $16,686,868.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Sigal Zarmi sold 400 shares of the business’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $157.61, for a total value of $63,044.00. Following the completion of the transaction, the director now directly owns 4,661 shares of the company’s stock, valued at approximately $734,620.21. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 28,744 shares of company stock valued at $4,592,941 over the last three months. 0.61% of the stock is owned by company insiders.

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.