GoDaddy (GDDY) Expected to Announce Quarterly Sales of $622.24 Million

Wall Street brokerages expect GoDaddy (NYSE:GDDY) to post sales of $622.24 million for the current quarter, Zacks Investment Research reports. Ten analysts have issued estimates for GoDaddy’s earnings, with the highest sales estimate coming in at $624.00 million and the lowest estimate coming in at $615.93 million. GoDaddy reported sales of $489.70 million during the same quarter last year, which indicates a positive year-over-year growth rate of 27.1%. The business is scheduled to issue its next quarterly earnings report after the market closes on Tuesday, May 8th.

According to Zacks, analysts expect that GoDaddy will report full-year sales of $2.60 billion for the current year, with estimates ranging from $2.56 billion to $2.61 billion. For the next year, analysts anticipate that the firm will post sales of $2.89 billion per share, with estimates ranging from $2.85 billion to $2.94 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow GoDaddy.

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GoDaddy (NYSE:GDDY) last announced its quarterly earnings results on Thursday, February 22nd. The technology company reported $0.11 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.09 by $0.02. The company had revenue of $602.20 million for the quarter, compared to analyst estimates of $593.47 million. GoDaddy had a net margin of 6.45% and a return on equity of 9.87%.

GDDY has been the topic of several recent research reports. Morgan Stanley lifted their target price on shares of GoDaddy from $59.00 to $64.00 and gave the company an “overweight” rating in a report on Friday, February 23rd. B. Riley restated a “buy” rating and set a $53.00 target price on shares of GoDaddy in a report on Wednesday, January 3rd. Barclays lifted their target price on shares of GoDaddy from $53.00 to $59.00 and gave the company an “overweight” rating in a report on Tuesday, January 30th. Stifel Nicolaus restated a “hold” rating and set a $52.00 target price (up previously from $44.00) on shares of GoDaddy in a report on Friday, February 23rd. Finally, Royal Bank of Canada lifted their target price on shares of GoDaddy to $69.00 and gave the company an “outperform” rating in a report on Friday, February 23rd. Seven equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $61.63.

Shares of GDDY traded up $2.11 during mid-day trading on Thursday, reaching $64.24. The company had a trading volume of 1,398,493 shares, compared to its average volume of 1,396,073. The firm has a market cap of $10,339.63, a PE ratio of 152.95, a price-to-earnings-growth ratio of 7.35 and a beta of 0.55. GoDaddy has a fifty-two week low of $36.56 and a fifty-two week high of $64.49. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 4.41.

In related news, insider Barbara J. Rechterman sold 35,000 shares of GoDaddy stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $50.85, for a total transaction of $1,779,750.00. Following the sale, the insider now owns 46,113 shares of the company’s stock, valued at approximately $2,344,846.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Steven Aldrich sold 10,000 shares of GoDaddy stock in a transaction on Monday, February 26th. The stock was sold at an average price of $61.38, for a total transaction of $613,800.00. Following the sale, the insider now directly owns 17,391 shares in the company, valued at approximately $1,067,459.58. The disclosure for this sale can be found here. Insiders have sold a total of 13,760,913 shares of company stock worth $814,243,334 in the last ninety days. 22.68% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in GDDY. New York State Common Retirement Fund increased its position in shares of GoDaddy by 2.9% in the 3rd quarter. New York State Common Retirement Fund now owns 179,600 shares of the technology company’s stock worth $7,814,000 after purchasing an additional 5,142 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of GoDaddy by 48.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 362,619 shares of the technology company’s stock worth $15,777,000 after purchasing an additional 118,109 shares during the last quarter. Great West Life Assurance Co. Can increased its position in shares of GoDaddy by 32.9% in the 3rd quarter. Great West Life Assurance Co. Can now owns 12,243 shares of the technology company’s stock worth $529,000 after purchasing an additional 3,032 shares during the last quarter. Legal & General Group Plc increased its position in shares of GoDaddy by 86.5% in the 3rd quarter. Legal & General Group Plc now owns 42,017 shares of the technology company’s stock worth $1,828,000 after purchasing an additional 19,488 shares during the last quarter. Finally, Wells Fargo & Company MN increased its position in shares of GoDaddy by 21.7% in the 3rd quarter. Wells Fargo & Company MN now owns 61,242 shares of the technology company’s stock worth $2,665,000 after purchasing an additional 10,902 shares during the last quarter. 86.87% of the stock is owned by institutional investors.

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GoDaddy Company Profile

GoDaddy Inc designs and develops cloud-based technology products for small businesses, Web design professionals, and individuals in the United States and internationally. It provides domain name registration product that enables to engage customers at the initial stage of establishing a digital identity; hosting products, such as shared Website hosting, Website hosting on virtual private servers and virtual dedicated servers, managed hosting, and security.

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Earnings History and Estimates for GoDaddy (NYSE:GDDY)

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