Wall Street brokerages expect Godaddy Inc (NYSE:GDDY) to post $593.47 million in sales for the current quarter, according to Zacks Investment Research. Ten analysts have provided estimates for Godaddy’s earnings, with estimates ranging from $582.20 million to $595.95 million. Godaddy posted sales of $485.90 million in the same quarter last year, which would indicate a positive year over year growth rate of 22.1%. The company is expected to report its next earnings report on Wednesday, February 21st.
According to Zacks, analysts expect that Godaddy will report full year sales of $593.47 million for the current year, with estimates ranging from $2.22 billion to $2.23 billion. For the next financial year, analysts expect that the firm will report sales of $2.54 billion per share, with estimates ranging from $2.53 billion to $2.56 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Godaddy.
Godaddy (NYSE:GDDY) last released its quarterly earnings data on Monday, November 6th. The technology company reported $0.07 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.07. Godaddy had a net margin of 2.34% and a return on equity of 7.89%.
Several research firms recently commented on GDDY. Jefferies Group restated a “buy” rating and set a $55.00 price target on shares of Godaddy in a research report on Wednesday, September 20th. Oppenheimer restated a “buy” rating and set a $53.00 price target (up previously from $50.00) on shares of Godaddy in a research report on Tuesday, November 7th. TheStreet upgraded shares of Godaddy from a “c-” rating to a “b-” rating in a research report on Tuesday, November 7th. Wedbush began coverage on shares of Godaddy in a research report on Friday, December 8th. They set a “neutral” rating and a $52.00 price target on the stock. Finally, B. Riley restated a “buy” rating and set a $53.00 price target on shares of Godaddy in a research report on Wednesday, January 3rd. Six analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Godaddy presently has a consensus rating of “Buy” and a consensus target price of $50.43.
Godaddy (GDDY) traded down $1.30 during trading hours on Wednesday, hitting $50.13. 1,022,000 shares of the stock were exchanged, compared to its average volume of 1,071,960. The firm has a market capitalization of $8,390.00 and a price-to-earnings ratio of 385.62. Godaddy has a 1 year low of $34.58 and a 1 year high of $52.11. The company has a debt-to-equity ratio of 5.15, a current ratio of 0.57 and a quick ratio of 0.57.
In other Godaddy news, Director Blake Irving sold 50,000 shares of Godaddy stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $50.95, for a total transaction of $2,547,500.00. Following the transaction, the director now directly owns 53,106 shares of the company’s stock, valued at $2,705,750.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Barbara J. Rechterman sold 35,000 shares of Godaddy stock in a transaction dated Wednesday, October 25th. The stock was sold at an average price of $45.26, for a total transaction of $1,584,100.00. Following the transaction, the insider now directly owns 50,427 shares in the company, valued at $2,282,326.02. The disclosure for this sale can be found here. Insiders have sold 7,817,345 shares of company stock worth $369,319,962 over the last ninety days. 22.68% of the stock is owned by insiders.
A number of hedge funds have recently modified their holdings of GDDY. The Manufacturers Life Insurance Company raised its stake in shares of Godaddy by 7.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,476 shares of the technology company’s stock valued at $232,000 after acquiring an additional 397 shares during the period. Public Employees Retirement Association of Colorado raised its stake in shares of Godaddy by 49.3% in the 3rd quarter. Public Employees Retirement Association of Colorado now owns 3,675 shares of the technology company’s stock valued at $160,000 after acquiring an additional 1,213 shares during the period. Aperio Group LLC raised its stake in shares of Godaddy by 23.3% in the 3rd quarter. Aperio Group LLC now owns 8,624 shares of the technology company’s stock valued at $375,000 after acquiring an additional 1,631 shares during the period. Teacher Retirement System of Texas raised its stake in shares of Godaddy by 37.8% in the 3rd quarter. Teacher Retirement System of Texas now owns 9,283 shares of the technology company’s stock valued at $404,000 after acquiring an additional 2,546 shares during the period. Finally, SG Americas Securities LLC purchased a new stake in shares of Godaddy in the 2nd quarter valued at approximately $118,000. 84.43% of the stock is currently owned by institutional investors.
ILLEGAL ACTIVITY NOTICE: This piece of content was originally published by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are viewing this piece of content on another publication, it was copied illegally and republished in violation of United States & international copyright & trademark legislation. The legal version of this piece of content can be viewed at https://www.dispatchtribunal.com/2018/01/17/593-47-million-in-sales-expected-for-godaddy-inc-gddy-this-quarter.html.
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.
Get a free copy of the Zacks research report on Godaddy (GDDY)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Godaddy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Godaddy and related companies with MarketBeat.com's FREE daily email newsletter.