Cantor Fitzgerald Expects Increased Earnings for GoDaddy

GoDaddy Inc. (NYSE:GDDY) – Equities research analysts at Cantor Fitzgerald boosted their FY2024 earnings estimates for shares of GoDaddy in a report issued on Thursday, October 31st. Cantor Fitzgerald analyst D. Mathivanan now anticipates that the technology company will earn $6.54 per share for the year, up from their previous estimate of $6.46. Cantor Fitzgerald has a “Neutral” rating and a $170.00 price target on the stock. The consensus estimate for GoDaddy’s current full-year earnings is $5.09 per share.

Other equities analysts also recently issued research reports about the stock. Royal Bank of Canada boosted 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. Piper Sandler increased their price objective on shares of GoDaddy from $172.00 to $176.00 and gave the company a “neutral” rating in a report on Thursday. B. Riley lifted their target price on GoDaddy from $170.00 to $190.00 and gave the stock a “buy” rating in a report on Thursday. Barclays boosted their target price on GoDaddy from $165.00 to $185.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 25th. Finally, Raymond James raised their price target on GoDaddy from $150.00 to $175.00 and gave the company a “strong-buy” rating in a report on Friday, August 2nd. Five analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued 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 price target of $171.38.

GoDaddy Trading Down 2.1 %

GDDY stock opened at $163.36 on Monday. The company has a debt-to-equity ratio of 10.61, a current ratio of 0.56 and a quick ratio of 0.48. GoDaddy has a 1-year low of $74.12 and a 1-year high of $171.93. The business has a 50 day simple moving average of $159.18 and a two-hundred day simple moving average of $147.45. The company has a market capitalization of $23.03 billion, a price-to-earnings ratio of 12.62 and a beta of 1.11.

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

Insiders Place Their Bets

In related news, Director Sigal Zarmi sold 400 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $157.61, for a total transaction of $63,044.00. Following the transaction, the director now directly owns 4,661 shares in the company, valued at approximately $734,620.21. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other GoDaddy news, Director Sigal Zarmi sold 400 shares of the company’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 transaction, the director now owns 4,661 shares of the company’s stock, valued at $734,620.21. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Nick Daddario sold 2,976 shares of GoDaddy stock in a transaction on Monday, September 9th. The stock was sold at an average price of $151.61, for a total value of $451,191.36. Following the sale, the chief accounting officer now owns 14,728 shares of the company’s stock, valued at approximately $2,232,912.08. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 25,744 shares of company stock valued at $4,089,571 over the last three months. 0.61% of the stock is owned by company insiders.

Hedge Funds Weigh In On GoDaddy

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in shares of GoDaddy by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 14,733,764 shares of the technology company’s stock worth $1,748,603,000 after buying an additional 379,228 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in GoDaddy by 94.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,655,994 shares of the technology company’s stock worth $433,895,000 after acquiring an additional 1,775,708 shares in the last quarter. Federated Hermes Inc. increased its position in GoDaddy by 35.6% during the 2nd quarter. Federated Hermes Inc. now owns 1,501,277 shares of the technology company’s stock valued at $209,743,000 after purchasing an additional 394,399 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of GoDaddy by 37.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 861,066 shares of the technology company’s stock valued at $120,305,000 after purchasing an additional 235,934 shares in the last quarter. Finally, Fiera Capital Corp lifted its position in shares of GoDaddy by 1.6% in the 2nd quarter. Fiera Capital Corp now owns 828,326 shares of the technology company’s stock worth $115,725,000 after purchasing an additional 13,206 shares during the period. 90.28% of the stock is currently 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.