FY2024 Earnings Estimate for GoDaddy Issued By William Blair

GoDaddy Inc. (NYSE:GDDY) – William Blair upped their FY2024 earnings estimates for GoDaddy in a note issued to investors on Wednesday, October 30th. William Blair analyst A. Bhatia now forecasts 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.

A number of other brokerages also recently commented on GDDY. Royal Bank of Canada boosted their price objective on shares of GoDaddy from $175.00 to $190.00 and gave the stock an “outperform” rating in a research note on Friday. Benchmark boosted their target price on shares of GoDaddy from $186.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday. Barclays raised their price target on shares of GoDaddy from $165.00 to $185.00 and gave the company an “overweight” rating in a report on Wednesday, September 25th. Robert W. Baird increased their target price on shares of GoDaddy from $190.00 to $200.00 and gave the company an “outperform” 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 report on Thursday. Five equities 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.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $171.38.

GoDaddy Stock Performance

GDDY stock opened at $163.37 on Friday. GoDaddy has a 1-year low of $74.12 and a 1-year high of $171.93. The business has a 50-day moving average price of $159.17 and a 200 day moving average price of $146.82. The company has a market capitalization of $23.03 billion, a P/E ratio of 12.61 and a beta of 1.12. The company has a debt-to-equity ratio of 24.13, a current ratio of 0.48 and a quick ratio of 0.48.

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

Institutional Trading of GoDaddy

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

Insider Activity

In related news, CFO Mark Mccaffrey sold 5,500 shares of the firm’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $164.75, for a total transaction of $906,125.00. Following the completion of the transaction, the chief financial officer now owns 101,286 shares of the company’s stock, valued at $16,686,868.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CFO Mark Mccaffrey sold 5,500 shares of the firm’s stock in a transaction dated 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 directly owns 101,286 shares of the company’s stock, valued at $16,686,868.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Sigal Zarmi sold 400 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The shares were 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 $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 have sold 25,744 shares of company stock valued at $4,089,571 in the last ninety days. Insiders own 0.61% of the company’s stock.

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.