$578.99 Million in Sales Expected for GoDaddy Inc. (GDDY) This Quarter

Equities research analysts expect that GoDaddy Inc. (NYSE:GDDY) will announce $578.99 million in sales for the current fiscal quarter, Zacks reports. Nine analysts have made estimates for GoDaddy’s earnings, with the lowest sales estimate coming in at $574.77 million and the highest estimate coming in at $580.00 million. GoDaddy reported sales of $472.10 million in the same quarter last year, which indicates a positive year-over-year growth rate of 22.6%. The company is expected to issue its next earnings results after the market closes on Monday, November 6th.

On average, analysts expect that GoDaddy will report full year sales of $578.99 million for the current fiscal year, with estimates ranging from $2.22 billion to $2.23 billion. For the next year, analysts forecast that the company will report sales of $2.54 billion per share, with estimates ranging from $2.52 billion to $2.58 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that follow GoDaddy.

GoDaddy (NYSE:GDDY) last posted its earnings results on Tuesday, August 8th. The technology company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.10. The firm had revenue of $557.80 million during the quarter, compared to the consensus estimate of $551.26 million. GoDaddy had a return on equity of 6.05% and a net margin of 1.21%. The company’s quarterly revenue was up 22.3% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.11) EPS.

GDDY has been the subject of a number of recent analyst reports. B. Riley reissued a “buy” rating and issued a $53.00 price objective on shares of GoDaddy in a report on Wednesday, August 9th. Jefferies Group LLC initiated coverage on GoDaddy in a report on Thursday, August 24th. They issued a “buy” rating and a $55.00 price objective for the company. Raymond James Financial, Inc. increased their price objective on GoDaddy from $47.00 to $48.00 and gave the stock an “outperform” rating in a report on Wednesday, August 9th. Royal Bank Of Canada increased their price objective on GoDaddy from $44.00 to $47.00 and gave the stock an “outperform” rating in a report on Wednesday, August 9th. Finally, BidaskClub raised GoDaddy from a “hold” rating to a “buy” rating in a report on Saturday, September 2nd. One analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $47.46.

GoDaddy (NYSE:GDDY) opened at 43.85 on Wednesday. The stock’s 50 day moving average price is $43.89 and its 200-day moving average price is $43.89. GoDaddy has a 52-week low of $31.63 and a 52-week high of $45.37. The company has a market capitalization of $4.88 billion, a P/E ratio of 345.28 and a beta of 0.62.

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In other news, major shareholder Lake Group L.L.C. Silver sold 5,773,272 shares of the stock in a transaction on Friday, September 8th. The stock was sold at an average price of $43.71, for a total transaction of $252,349,719.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CMO Barbara J. Rechterman sold 17,500 shares of the stock in a transaction on Tuesday, October 10th. The shares were sold at an average price of $43.73, for a total value of $765,275.00. Following the sale, the chief marketing officer now owns 50,427 shares of the company’s stock, valued at approximately $2,205,172.71. The disclosure for this sale can be found here. Insiders sold 12,288,948 shares of company stock valued at $536,809,177 over the last 90 days. 22.68% of the stock is currently owned by insiders.

Several large investors have recently made changes to their positions in GDDY. Wells Fargo & Company MN lifted its position in shares of GoDaddy by 45.6% during the 1st quarter. Wells Fargo & Company MN now owns 51,901 shares of the technology company’s stock valued at $1,967,000 after acquiring an additional 16,243 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of GoDaddy by 0.9% during the 1st quarter. Bank of New York Mellon Corp now owns 163,361 shares of the technology company’s stock valued at $6,192,000 after acquiring an additional 1,524 shares during the last quarter. BNP Paribas Arbitrage SA lifted its position in shares of GoDaddy by 215.1% during the 1st quarter. BNP Paribas Arbitrage SA now owns 2,770 shares of the technology company’s stock valued at $105,000 after acquiring an additional 1,891 shares during the last quarter. UBS Asset Management Americas Inc. lifted its position in shares of GoDaddy by 16.1% during the 1st quarter. UBS Asset Management Americas Inc. now owns 31,770 shares of the technology company’s stock valued at $1,204,000 after acquiring an additional 4,403 shares during the last quarter. Finally, Karp Capital Management Corp acquired a new stake in shares of GoDaddy during the 1st quarter valued at $251,000. Institutional investors own 77.95% of the company’s stock.

GoDaddy Company Profile

GoDaddy Inc is a technology provider to small businesses, Web design professionals and individuals. The Company delivers cloud-based products and personalized customer care. It operates a domain marketplace, where its customers can find the digital real estate that matches their idea. It provides Website building, hosting and security tools to help customers construct and protect online presence.

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