GoDaddy (NYSE: GDDY – Get Rating) will release its earnings data after the market close on Thursday, Nov. 3. Analysts expect GoDaddy to report earnings of $0.58 per share for the quarter. GoDaddy has set third quarter 2022 guidance to EPS and fiscal 2022 guidance to EPS. Those interested in participating in the company’s earnings call can do so using this link.
GoDaddy (NYSE: GDDY – Get Rating) last reported its earnings results on Wednesday, August 3rd. The tech company reported earnings per share of $0.56 for the quarter, beating analysts’ consensus estimate of $0.47 by $0.09. The business reported revenue of $1.02 billion for the quarter, compared with analysts’ estimates of $1.02 billion. GoDaddy has a net profit margin of 8.58% and a return on equity of 147.44%. On average, analysts expect GoDaddy to earn $2 a share this fiscal year and $3 a share next.
GoDaddy trades down 0.5%
Shares of GDDY opened at $79.22 on Thursday. The company has a market cap of $12.41 billion, a price-to-earnings ratio of 38.27, a price-to-earnings ratio of 2.33, and a beta of 0.92. The company has a 50-day simple moving average of $75.62 and a 200-day simple moving average of $75.23. GoDaddy has a 1-year low of $64.81 and a 1-year high of $88.32.
In other GoDaddy news, Chief Financial Officer Mark McCcaffrey sold 2,700 shares of the stock in trading on Wednesday, September 7. Shares sold at an average price of $73.56 for a total transaction value of $198,612.00. Following the transaction, the CFO now owns 82,250 shares of the company’s stock, worth approximately $6,050,310. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other GoDaddy news, CAO Nick Daddario sold 600 shares in trading on Monday, August 15. Shares sold at an average price of $82.00 for a total volume of $49,200.00. Following the transaction, the chief accounting officer now owns 15,608 shares of the company’s stock, worth approximately $1,279,856. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In addition, Chief Financial Officer Mark McCaffrey sold 2,700 shares of the stock in trading on Wednesday, September 7. Shares sold at an average price of $73.56 for a total transaction value of $198,612.00. Following the transaction, the CFO now directly owns 82,250 shares of the company’s stock, worth approximately $6,050,310. Disclosures for this sale can be found here. Last quarter, insiders sold 13,566 shares of the company, valued at $1,008,092. Company insiders own 0.37% of the company.
Institutional inflows and outflows
Institutional investors have recently changed their position in the business. Achmea Investment Management BV bought a new position in GoDaddy stock for about $31,000 in the first quarter. Covestor Ltd increased its stake in GoDaddy by 1,821.4% in the first quarter. Covestor Ltd now owns 1,979 shares in the technology company worth $166,000 after buying an additional 1,876 shares in the previous quarter. Prudential PLC bought a new position in GoDaddy stock for about $249,000 in the first quarter. Raymond James Trust NA increased its stake in GoDaddy by 30.8% in the first quarter. Raymond James Trust NA now owns 3,212 shares of the tech company’s stock valued at $269,000 after buying an additional 757 shares in the previous quarter. Finally, Wealthfront Advisers LLC purchased a new position in GoDaddy stock worth approximately $294,000 in the first quarter. Institutional investors hold 96.50% of the company.
Analysts set new price targets
Several equity research analysts have commented on the company recently. Raymond James cut his price target on GoDaddy to $100.00 from $108.00 and gave the company a “strong buy” rating in a research note on Thursday, Aug. 4. 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. Barclays raised its price target on GoDaddy to $107.00 from $104.00 in a research note on Thursday, Aug. 4, with an “overweight” rating on the stock. Evercore ISI raised its price target on GoDaddy to $91.00 in a research note on Tuesday, Aug. 9. Finally, StockNews.com hypothesized its coverage of GoDaddy in a research report on Wednesday, October 12. They have a “buy” rating on the company. One research analyst has a hold rating on the stock, four have a buy rating and one has a strong buy rating. The stock currently has a “buy” consensus rating and a consensus price target of $101.00, according to MarketBeat.
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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.
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