GoDaddy (NYSE:GDDY) Issues Quarterly Earnings Results

GoDaddy (NYSE:GDDY) posted its earnings results on Wednesday. The technology company reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.07, Briefing.com reports. GoDaddy had a net margin of 41.12% and a negative return on equity of 709.73%. The firm had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same period last year, the firm posted $0.89 EPS. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. GoDaddy updated its FY 2024 guidance to EPS and its Q4 2024 guidance to EPS.

GoDaddy Trading Up 3.2 %

GoDaddy stock traded up $5.20 during trading on Thursday, reaching $166.80. The company had a trading volume of 2,674,599 shares, compared to its average volume of 1,467,689. The firm has a market capitalization of $23.80 billion, a price-to-earnings ratio of 13.97 and a beta of 1.12. The company has a debt-to-equity ratio of 24.13, a quick ratio of 0.48 and a current ratio of 0.48. GoDaddy has a 12-month low of $72.14 and a 12-month high of $171.93. The stock’s 50 day moving average price is $159.08 and its two-hundred day moving average price is $146.68.

Insider Buying and Selling at GoDaddy

In other GoDaddy news, Director Sigal Zarmi sold 400 shares of GoDaddy stock in a transaction that occurred on 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 of the company’s stock, valued at $734,620.21. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, COO Roger Chen sold 1,000 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $152.17, for a total transaction of $152,170.00. Following the transaction, the chief operating officer now directly owns 187,632 shares of the company’s stock, valued at approximately $28,551,961.44. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Sigal Zarmi sold 400 shares of the business’s stock in a transaction on Friday, August 9th. The stock was 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. 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 a total of 25,744 shares of company stock valued at $4,089,571 over the last ninety days. Corporate insiders own 0.61% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on GDDY. Piper Sandler raised their target price on shares of GoDaddy from $172.00 to $176.00 and gave the company a “neutral” rating in a report on Thursday. Barclays lifted their price target on shares of GoDaddy from $165.00 to $185.00 and gave the stock an “overweight” rating in a report on Wednesday, September 25th. Cantor Fitzgerald reiterated a “neutral” rating and set a $170.00 price target on shares of GoDaddy in a report on Monday, October 7th. Royal Bank of Canada lifted their price target on shares of GoDaddy from $145.00 to $175.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Finally, Robert W. Baird lifted their price target on shares of GoDaddy from $190.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday. Five investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $170.23.

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.