Analysts Cut GoDaddy Inc. Fourth-Quarter 2022 Earnings Per Share Forecast (NYSE: GDDY)

GoDaddy Inc. (NYSE: GDDY – RATED) – Investment analysts at Jefferies Financial Group downgraded their estimates for GoDaddy’s fourth-quarter 2022 per share in a report to investors Friday, Nov. 4. Earnings expectations. Jefferies Financial Group analyst B. Thill now expects the tech company to report earnings per share of $0.64 for the quarter, down from a previous forecast of $0.68. The current consensus estimate for GoDaddy’s full-year earnings is $2.22 per share.

Other equity research analysts have also released research reports on the company. Morgan Stanley raised its price target on GoDaddy to $93.00 from $91.00 in a research note on Thursday, Aug. 4, with an “equal weight” rating on the stock. Raymond James lowered his price target on GoDaddy to $88.00 from $100.00 and gave the stock a “strong buy” rating in a research note Friday. StockNews.com hypothesized its coverage of GoDaddy in a research report on Wednesday, October 12. They have a “buy” rating on the stock. Barclays raised its price target on GoDaddy to $107.00 from $104.00 and gave the company an “overweight” rating in a research note on Thursday, Aug. 4. Finally, Piper Sandler lowered GoDaddy’s price target to $100.00 from $110.00 and gave the stock an “overweight” rating in a research note Friday. One investment analyst has a hold rating on the stock, four have a buy rating and one has a strong buy rating on the company’s stock. The company currently has a “buy” consensus rating and a consensus price target of $97.86, according to MarketBeat.

GoDaddy Price Performance

The NYSE GDDY opened at $67.53 on Monday. The company has a market cap of $10.58 billion, a price-to-earnings ratio of 31.85, a price-to-earnings ratio of 2.20, and a beta of 0.95. The stock has a 50-day moving average of $75.09 and its 200-day moving average of $74.72. GoDaddy has a one-year low of $64.65 and a one-year high of $88.32.

Institutional Transactions at GoDaddy

Several institutional investors have recently increased or reduced their stakes in the company. Achmea Investment Management BV acquired the new position at GoDaddy for $31,000 in the first quarter. Wipfli Financial Advisors LLC acquired GoDaddy’s new position for $33,000 in the third quarter. IndexIQ Advisors LLC acquired GoDaddy’s new position for $37,000 in the first quarter. Vigilant Capital Management LLC acquired a new position in GoDaddy stock for $41,000 in the second quarter. Finally, First Horizon Advisors Inc. increased its stake in GoDaddy by 8,371.4% in the second quarter. First Horizon Advisors Inc. now owns 593 shares of the tech company’s stock, valued at $41,000, after buying an additional 586 shares in the previous quarter. Currently 96.50% of the stock is owned by institutional investors.

Insider Trading at GoDaddy

In other news, CAO Nick Daddario sold 565 GoDaddy shares in a transaction that took place on Wednesday, November 2. The stock sold at an average price of $76.81 for a total volume of $43,397.65. Following the transaction, the chief accounting officer now directly owns 14,999 shares of the company, worth approximately $1,152,073.19. The sale was disclosed in a filing with the Securities and Exchange Commission, which can be accessed via this hyperlink. In other news, CAO Nick Daddario sold 565 GoDaddy shares in a transaction that took place on Wednesday, November 2. The stock sold at an average price of $76.81 for a total volume of $43,397.65. Following the transaction, the chief accounting officer now directly owns 14,999 shares of the company, worth approximately $1,152,073.19. The sale was disclosed in a filing with the Securities and Exchange Commission, which can be accessed via this hyperlink. Additionally, insider Michele Lau sold 456 GoDaddy shares in Wednesday, Nov. 2 trading. The stock sold at an average price of $76.81 for a total value of $35,025.36. After the transaction, the insider now owns 62,553 shares of the company’s stock, worth $4,804,695.93. Disclosures for this sale can be found here. Insiders sold a total of 7,223 shares of the company worth $542,463 in the past 90 days. 0.37% of the stock is currently held by company insiders.

About GoDaddy

(get a rating)

GoDaddy Inc designs and develops cloud-based technology products in the United States and internationally. The company offers domain registration products that can attract customers in the initial stages of establishing a digital identity. It also offers shared website hosting products that offer a variety of applications and products such as web analytics, Secure Sockets Layer certificates, and WordPress; websites hosted on virtual private servers and virtual private server products, allowing customers to choose the applications, requirements, and growing server configurations; managed products, which are used to set up, monitor, maintain, secure and patch software and servers for customers; and security products, a suite of tools designed to help protect customers’ online presence.

see also

GoDaddy (NYSE: GDDY) Earnings History and Estimates

Generated by MarketBeat’s narrative science technology and financial data, this instant news alert is designed to provide readers with the fastest, most accurate coverage. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected]

Before you consider GoDaddy, you’ll want to hear this.

MarketBeat tracks Wall Street’s top and top-performing research analysts and the stocks they recommend to clients on a daily basis. MarketBeat has identified five stocks that top analysts are quietly whispering to their clients to buy before the broader market starts…and GoDaddy isn’t on the list.

While GoDaddy currently has a “buy” rating among analysts, the top-rated analysts see these five stocks as better buys.

Check out the five stocks here

Leave a Reply

Your email address will not be published. Required fields are marked *