GoDaddy FY2024 EPS Estimate Boosted by Cantor Fitzgerald

GoDaddy Inc. (NYSE:GDDY) – Analysts at Cantor Fitzgerald boosted their FY2024 earnings per share (EPS) estimates for shares of GoDaddy in a research note issued to investors on Thursday, October 31st. Cantor Fitzgerald analyst D. Mathivanan now expects that the technology company will post earnings per share of $6.54 for the year, up from their prior forecast 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 $5.13 per share.

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

A number of other research analysts have also issued reports on the company. B. Riley lifted their target price on GoDaddy from $170.00 to $190.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Raymond James boosted their price objective on GoDaddy from $150.00 to $175.00 and gave the stock a “strong-buy” rating in a research report on Friday, August 2nd. Benchmark raised their target price on shares of GoDaddy from $186.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Piper Sandler boosted their price target on shares of GoDaddy from $172.00 to $176.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Finally, Robert W. Baird raised their price objective on shares of GoDaddy from $190.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. 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’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $171.38.

GoDaddy Stock Performance

NYSE:GDDY opened at $167.63 on Monday. GoDaddy has a 52 week low of $84.78 and a 52 week high of $171.93. The company has a fifty day simple moving average of $159.27 and a two-hundred day simple moving average of $148.10. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 10.61. The company has a market cap of $23.63 billion, a price-to-earnings ratio of 12.95 and a beta of 1.11.

Institutional Investors Weigh In On GoDaddy

A number of large investors have recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC boosted its stake in shares of GoDaddy by 60.3% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 4,459 shares of the technology company’s stock valued at $529,000 after acquiring an additional 1,678 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of GoDaddy by 866.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 10,335 shares of the technology company’s stock worth $1,227,000 after buying an additional 9,266 shares in the last quarter. Norden Group LLC acquired a new position in shares of GoDaddy in the first quarter valued at approximately $806,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of GoDaddy by 13.4% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 53,771 shares of the technology company’s stock valued at $6,382,000 after buying an additional 6,365 shares during the period. Finally, BNP Paribas Financial Markets boosted its position in GoDaddy by 12.2% during the first quarter. BNP Paribas Financial Markets now owns 175,164 shares of the technology company’s stock worth $20,788,000 after acquiring an additional 19,113 shares during the last quarter. Institutional investors and hedge funds own 90.28% of the company’s stock.

Insider Activity at GoDaddy

In related news, Director Sigal Zarmi sold 400 shares of the firm’s stock in a transaction dated 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 sale, the director now owns 4,661 shares in the company, valued at $734,620.21. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Sigal Zarmi sold 400 shares of the firm’s stock in a transaction that occurred 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 $734,620.21. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 value 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 approximately $16,686,868.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 28,744 shares of company stock worth $4,592,941 in the last quarter. Company insiders own 0.61% of the company’s stock.

GoDaddy Company Profile

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.