William Blair Has Optimistic View of GoDaddy FY2024 Earnings

GoDaddy Inc. (NYSE:GDDY) – Equities researchers at William Blair boosted their FY2024 EPS estimates for shares of GoDaddy in a report issued on Wednesday, October 30th. William Blair analyst A. Bhatia now expects that the technology company will earn $4.98 per share for the year, up from their prior estimate of $4.89. The consensus estimate for GoDaddy’s current full-year earnings is $5.07 per share. William Blair also issued estimates for GoDaddy’s Q4 2024 earnings at $1.47 EPS, Q3 2025 earnings at $1.62 EPS, Q4 2025 earnings at $1.75 EPS and FY2026 earnings at $7.94 EPS.

GoDaddy (NYSE:GDDY) last released its earnings results on Wednesday, October 30th. The technology company reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.07. The business had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.14 billion. GoDaddy had a net margin of 41.74% and a return on equity of 313.25%. The company’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.89 earnings per share.

Several other equities research analysts have also recently issued reports on GDDY. B. Riley raised their price objective on shares of GoDaddy from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday. Barclays boosted their price objective on GoDaddy from $165.00 to $185.00 and gave the company an “overweight” rating in a report on Wednesday, September 25th. Royal Bank of Canada increased their target price on shares of GoDaddy from $175.00 to $190.00 and gave the stock an “outperform” rating in a report on Friday. Benchmark increased their price target on GoDaddy from $186.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday. Finally, StockNews.com raised shares of GoDaddy from a “buy” rating to a “strong-buy” rating in a research report on Thursday. Five research analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $171.38.

GoDaddy Trading Down 2.1 %

Shares of GoDaddy stock opened at $163.36 on Friday. GoDaddy has a 1-year low of $74.12 and a 1-year high of $171.93. The company has a debt-to-equity ratio of 24.13, a current ratio of 0.48 and a quick ratio of 0.48. The stock has a market cap of $23.03 billion, a P/E ratio of 12.62 and a beta of 1.12. The stock’s 50 day simple moving average is $159.18 and its 200-day simple moving average is $147.27.

Insider Activity at GoDaddy

In related news, COO Roger Chen sold 1,000 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $164.16, for a total transaction of $164,160.00. Following the completion of the sale, the chief operating officer now directly owns 186,632 shares in the company, valued at approximately $30,637,509.12. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, COO Roger Chen sold 1,000 shares of the business’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $164.16, for a total value of $164,160.00. Following the completion of the sale, the chief operating officer now directly owns 186,632 shares in the company, valued at approximately $30,637,509.12. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Nick Daddario sold 684 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $157.23, for a total value of $107,545.32. Following the completion of the sale, the chief accounting officer now directly owns 17,704 shares in the company, valued at approximately $2,783,599.92. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 25,744 shares of company stock valued at $4,089,571. Company insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Transcendent Capital Group LLC bought a new stake in GoDaddy during the 2nd quarter worth about $28,000. ORG Wealth Partners LLC acquired a new position in shares of GoDaddy during the 3rd quarter worth approximately $30,000. ORG Partners LLC acquired a new position in GoDaddy during the second quarter worth $32,000. International Assets Investment Management LLC bought a new stake in shares of GoDaddy in the 2nd quarter valued at about $36,000. Finally, New Covenant Trust Company N.A. bought a new stake in GoDaddy in the first quarter valued at approximately $45,000. 90.28% of the stock is owned by institutional investors.

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.