GoDaddy (NYSE:GDDY) Announces Quarterly Earnings Results

GoDaddy (NYSE:GDDY) posted its earnings results on Thursday. The technology company reported $1.01 earnings per share for the quarter, missing the consensus estimate of $1.07 by ($0.06), Briefing.com reports. GoDaddy had a net margin of 41.12% and a negative return on equity of 363.95%. The company had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter last year, the business earned $0.63 earnings per share. GoDaddy’s quarterly revenue was up 7.3% on a year-over-year basis. GoDaddy updated its Q3 2024 guidance to EPS and its FY 2024 guidance to EPS.

GoDaddy Stock Performance

GDDY stock traded up $9.84 during trading on Friday, reaching $151.25. 2,407,777 shares of the stock were exchanged, compared to its average volume of 1,159,537. The company has a market capitalization of $21.58 billion, a P/E ratio of 12.56 and a beta of 1.14. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 9.15. GoDaddy has a twelve month low of $69.18 and a twelve month high of $152.09. The stock has a 50 day simple moving average of $141.77 and a 200-day simple moving average of $127.17.

Insiders Place Their Bets

In other GoDaddy news, CFO Mark Mccaffrey sold 4,058 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $133.69, for a total transaction of $542,514.02. Following the completion of the transaction, the chief financial officer now owns 112,473 shares in the company, valued at $15,036,515.37. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other GoDaddy news, CFO Mark Mccaffrey sold 4,058 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $133.69, for a total transaction of $542,514.02. Following the completion of the transaction, the chief financial officer now owns 112,473 shares in the company, valued at $15,036,515.37. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Leah Sweet sold 1,000 shares of the firm’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $141.59, for a total transaction of $141,590.00. Following the transaction, the director now owns 11,317 shares of the company’s stock, valued at approximately $1,602,374.03. The disclosure for this sale can be found here. Insiders sold a total of 46,071 shares of company stock worth $6,385,206 over the last quarter. Company insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

GDDY has been the topic of several recent research reports. Morgan Stanley raised their target price on GoDaddy from $132.00 to $137.00 and gave the company an “equal weight” rating in a report on Friday, May 3rd. B. Riley raised their price target on GoDaddy from $143.00 to $170.00 and gave the company a “buy” rating in a research report on Friday, July 12th. William Blair reaffirmed an “outperform” rating on shares of GoDaddy in a research report on Friday, May 3rd. Piper Sandler raised their price target on GoDaddy from $145.00 to $160.00 and gave the company an “overweight” rating in a research report on Friday. Finally, StockNews.com raised GoDaddy from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, July 30th. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, GoDaddy presently has a consensus rating of “Moderate Buy” and an average target price of $158.75.

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.