Godaddy Inc (NYSE:GDDY) – Analysts at SunTrust Banks decreased their FY2021 earnings estimates for shares of Godaddy in a report issued on Tuesday, November 6th. SunTrust Banks analyst N. Khan now expects that the technology company will post earnings per share of $1.79 for the year, down from their previous estimate of $2.06. SunTrust Banks currently has a “Buy” rating and a $87.00 target price on the stock. SunTrust Banks also issued estimates for Godaddy’s FY2022 earnings at $2.32 EPS.
Godaddy (NYSE:GDDY) last posted its quarterly earnings results on Tuesday, November 6th. The technology company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.10). The company had revenue of $679.50 million during the quarter, compared to analysts’ expectations of $673.79 million. Godaddy had a return on equity of 8.42% and a net margin of 4.96%. Godaddy’s revenue for the quarter was up 16.7% compared to the same quarter last year. During the same period last year, the company earned $0.17 earnings per share.
Several other equities analysts have also weighed in on the stock. Citigroup raised shares of Godaddy from a “neutral” rating to a “buy” rating in a research report on Thursday, October 11th. Zacks Investment Research raised shares of Godaddy from a “hold” rating to a “buy” rating and set a $84.00 price objective on the stock in a research report on Tuesday, August 14th. Wedbush reaffirmed a “neutral” rating and set a $85.00 price objective on shares of Godaddy in a research report on Thursday, September 13th. ValuEngine lowered shares of Godaddy from a “strong-buy” rating to a “buy” rating in a research report on Thursday, October 11th. Finally, Barclays raised their price objective on shares of Godaddy from $77.00 to $84.00 and gave the company an “overweight” rating in a research report on Monday, July 23rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $77.87.
Shares of GDDY opened at $64.46 on Thursday. The company has a market cap of $11.44 billion, a P/E ratio of 153.48, a price-to-earnings-growth ratio of 7.39 and a beta of 0.84. The company has a debt-to-equity ratio of 3.56, a quick ratio of 0.73 and a current ratio of 0.73. Godaddy has a twelve month low of $45.87 and a twelve month high of $84.97.
Hedge funds have recently made changes to their positions in the business. O Shaughnessy Asset Management LLC acquired a new position in Godaddy during the third quarter valued at approximately $150,000. LS Investment Advisors LLC acquired a new stake in shares of Godaddy in the second quarter worth $138,000. Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in shares of Godaddy in the second quarter worth $169,000. IBM Retirement Fund acquired a new stake in shares of Godaddy in the third quarter worth $218,000. Finally, Harvest Fund Management Co. Ltd grew its stake in shares of Godaddy by 610.3% in the third quarter. Harvest Fund Management Co. Ltd now owns 2,678 shares of the technology company’s stock worth $223,000 after acquiring an additional 2,301 shares during the last quarter. Institutional investors own 93.88% of the company’s stock.
In other Godaddy news, CRO Ah Kee Andrew Low sold 41,481 shares of the stock in a transaction that occurred on Monday, August 13th. The stock was sold at an average price of $76.01, for a total transaction of $3,152,970.81. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Arne Josefsberg sold 33,803 shares of the stock in a transaction that occurred on Tuesday, October 23rd. The shares were sold at an average price of $73.45, for a total value of $2,482,830.35. Following the transaction, the executive vice president now owns 33,348 shares in the company, valued at approximately $2,449,410.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,733,727 shares of company stock worth $585,453,642. Corporate insiders own 7.63% of the company’s stock.
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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