Zacks Research (NYSE:GDDY) Cuts GoDaddy Inc. Q3 2023 EPS Estimate

GoDaddy Inc. (NYSE: GDDY – Get Rated ) – Research analysts at Zacks Research lowered their outlook for GoDaddy stock to a third forecast for 2023 in a research report to clients and investors on Wednesday, November 16th. Quarterly earnings per share expectations. Zacks Research analyst S. Nag now expects the tech company to report earnings of $0.60 per share for the quarter, down from a previous estimate of $0.79. The current consensus estimate for GoDaddy’s full-year earnings is $2.22 per share. Zacks Research also released estimates for GoDaddy’s fourth-quarter 2023 EPS of $0.58 and fiscal 2023 EPS estimates of $2.22.

Other equity analysts have also recently issued reports on the stock. StockNews.com began coverage on shares of GoDaddy in a report on Wednesday, October 12th. They have a “buy” rating on the stock. Evercore ISI upped their target price on shares of GoDaddy to $91.00 in a research note on Tuesday, August 9th. Morgan Stanley upped their target price on GoDaddy from $91.00 to $93.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 4th. Raymond James cut their price target on GoDaddy from $100.00 to $88.00 and set a “strong buy” rating on the company in a research note on Friday, November 4th. Finally, Piper Sandler cut their price target on GoDaddy from $110.00 to $100.00 and set an “overweight” rating on the company in a research report on Friday, November 4th. One equity research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average Buy rating and a consensus price target of $96.75, according to MarketBeat.

GoDaddy value for money

GDDY stock opened Monday at $74.03. The company has a market capitalization of $11.5 billion, a P/E ratio of 34.92, a P/E ratio of 2.22, and a beta of 0.95. The company’s 50-day simple moving average is $74.41 and its 200-day simple moving average is $73.89. GoDaddy had a one-year low of $64.65 and a one-year high of $88.32.

insiders place bets

In other news, director Leah Sweet sold 1,000 shares in trading on Thursday, November 10. The average selling price of these shares was $72.13, for a total value of $72,130.00. Following the sale, the directors now own 8,138 shares of the company, worth $586,993.94. The transaction is disclosed in a filing with the U.S. Securities and Exchange Commission, which can be accessed via this hyperlink. In other news, director Leah Sweet sold 1,000 shares in trading on Thursday, November 10. The average selling price of these shares was $72.13, for a total value of $72,130.00. Following the sale, the directors now own 8,138 shares of the company, worth $586,993.94. The transaction is disclosed in a filing with the U.S. Securities and Exchange Commission, which can be accessed via this hyperlink. Additionally, CAO Nick Daddario sold 565 shares in trading on Wednesday, November 2nd. The stock had an average selling price of $76.81 and a total transaction value of $43,397.65. Following the sale, the chief accounting officer now owns 14,999 shares of the company, worth approximately $1,152,073.19. The disclosure for this sale can be found here. Last quarter, insiders sold 7,623 shares of the company worth $565,393. Insiders own 0.37% of the company.

GoDaddy’s Institutional Deals

Many institutional investors and hedge funds have recently changed their positions in the business. Vontobel Holding Ltd. took a new position in GoDaddy stock in the second quarter, worth about $633,000. Raymond James Trust NA increased its stake in GoDaddy stock by 6.8% in the second quarter. Raymond James Trust NA now owns 3,430 shares of the tech company worth $238,000 after acquiring an additional 218 shares last quarter. Truist Financial Corp increased its stake in GoDaddy by 6.0% in the second quarter. Truist Financial Corp now owns 36,350 shares of the tech company worth $2,529,000 after acquiring an additional 2,068 shares last quarter. FDx Advisors Inc. increased its position in GoDaddy stock by 27.2 percent in the first quarter. FDx Advisors Inc. now owns 19,064 shares of the technology company worth $1,596,000 after buying an additional 4,075 shares last quarter. Finally, Wellington Management Group LLP increased its stake in GoDaddy by 28.5% during the first quarter. Wellington Management Group LLP now owns 13,754,555 shares of the tech company worth $1,151,257,000 after purchasing an additional 3,052,975 shares last quarter. 96.50% of the shares are currently held by hedge funds and other institutional investors.

GoDaddy Company Profile

(get rating)

GoDaddy Inc designs and develops cloud-based technology products in the United States and internationally. The company offers a domain name registration product that engages customers in the initial stages of establishing a digital identity. It also offers shared website hosting products, offering a variety of applications and products such as web analytics, secure socket layer certificates, and WordPress; hosting websites on virtual private servers and virtual private server products, allowing customers to choose the right one for their application, required and growing server configurations; managed hosting products, which 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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