Godaddy Inc (GDDY) Expected to Post Quarterly Sales of $673.30 Million

Analysts expect Godaddy Inc (NYSE:GDDY) to post $673.30 million in sales for the current fiscal quarter, Zacks reports. Ten analysts have made estimates for Godaddy’s earnings, with estimates ranging from $669.00 million to $675.00 million. Godaddy reported sales of $582.20 million in the same quarter last year, which would suggest a positive year over year growth rate of 15.6%. The business is scheduled to report its next earnings results on Monday, November 5th.

On average, analysts expect that Godaddy will report full year sales of $2.65 billion for the current financial year, with estimates ranging from $2.63 billion to $2.66 billion. For the next financial year, analysts expect that the firm will report sales of $2.97 billion per share, with estimates ranging from $2.90 billion to $3.07 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Godaddy.

Godaddy (NYSE:GDDY) last issued its quarterly earnings data on Thursday, August 2nd. The technology company reported $0.11 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.03. Godaddy had a net margin of 5.83% and a return on equity of 8.78%. The business had revenue of $652.00 million during the quarter, compared to analyst estimates of $643.59 million. During the same period in the prior year, the business earned $0.10 EPS. The company’s revenue for the quarter was up 16.8% on a year-over-year basis.



Several brokerages have commented on GDDY. Zacks Investment Research lowered shares of Godaddy from a “buy” rating to a “hold” rating in a report on Monday. Jefferies Financial Group restated an “underperform” rating and issued a $76.00 price objective on shares of Godaddy in a report on Monday, May 7th. They noted that the move was a valuation call. SunTrust Banks restated a “buy” rating and issued a $87.00 price objective on shares of Godaddy in a report on Monday, August 6th. Morgan Stanley upped their price objective on shares of Godaddy from $64.00 to $72.00 and gave the stock an “overweight” rating in a report on Wednesday, May 9th. Finally, Oppenheimer upped their price objective on shares of Godaddy from $70.00 to $80.00 and gave the stock an “outperform” rating in a report on Wednesday, May 9th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $74.80.

In other news, major shareholder Kkr 2006 Gp Llc sold 4,000,000 shares of the company’s stock in a transaction dated Wednesday, May 23rd. The shares were sold at an average price of $70.73, for a total value of $282,920,000.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Nima Kelly sold 6,000 shares of the company’s stock in a transaction dated Wednesday, August 8th. The stock was sold at an average price of $76.98, for a total transaction of $461,880.00. Following the completion of the sale, the executive vice president now directly owns 59,312 shares in the company, valued at $4,565,837.76. The disclosure for this sale can be found here. Insiders sold a total of 4,300,837 shares of company stock worth $304,601,297 over the last ninety days. Insiders own 7.63% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Voya Investment Management LLC grew its position in Godaddy by 599.6% during the 2nd quarter. Voya Investment Management LLC now owns 1,833,104 shares of the technology company’s stock valued at $129,417,000 after purchasing an additional 1,571,091 shares during the last quarter. First Republic Investment Management Inc. purchased a new stake in Godaddy during the 2nd quarter valued at about $229,000. White Elm Capital LLC grew its position in Godaddy by 8.3% during the 2nd quarter. White Elm Capital LLC now owns 240,871 shares of the technology company’s stock valued at $17,006,000 after purchasing an additional 18,400 shares during the last quarter. AMP Capital Investors Ltd purchased a new stake in Godaddy during the 2nd quarter valued at about $3,634,000. Finally, Oregon Public Employees Retirement Fund purchased a new stake in Godaddy during the 2nd quarter valued at about $1,950,000. 91.48% of the stock is currently owned by hedge funds and other institutional investors.

NYSE GDDY traded up $0.58 during trading on Friday, hitting $75.86. The company had a trading volume of 1,620,654 shares, compared to its average volume of 1,601,307. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 3.56. Godaddy has a one year low of $41.01 and a one year high of $80.42. The firm has a market capitalization of $13.10 billion, a PE ratio of 179.93, a price-to-earnings-growth ratio of 8.15 and a beta of 0.58.

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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