GoDaddy (NYSE:GDDY) Releases Earnings Results, Beats Expectations By $0.07 EPS

GoDaddy (NYSE:GDDY) announced its quarterly earnings data on Wednesday. The technology company reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.07, Briefing.com reports. GoDaddy had a negative return on equity of 709.73% and a net margin of 41.12%. The firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the prior year, the company posted $0.89 earnings per share. GoDaddy’s quarterly revenue was up 7.3% on a year-over-year basis. GoDaddy updated its FY 2024 guidance to EPS and its Q4 2024 guidance to EPS.

GoDaddy Stock Performance

Shares of NYSE GDDY traded up $5.20 during midday trading on Thursday, reaching $166.80. 2,674,599 shares of the company traded hands, compared to its average volume of 1,467,689. The company has a market cap of $23.80 billion, a price-to-earnings ratio of 13.97 and a beta of 1.12. The stock has a 50-day moving average price of $159.08 and a 200 day moving average price of $146.68. GoDaddy has a 52 week low of $72.14 and a 52 week high of $171.93. The company has a debt-to-equity ratio of 24.13, a current ratio of 0.48 and a quick ratio of 0.48.

Insiders Place Their Bets

In related news, Director Sigal Zarmi sold 400 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $157.61, for a total transaction of $63,044.00. Following the completion of the sale, the director now directly owns 4,661 shares in the company, valued at approximately $734,620.21. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, COO Roger Chen sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $164.16, for a total value of $164,160.00. Following the completion of the sale, the chief operating officer now directly owns 186,632 shares in the company, valued at approximately $30,637,509.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Sigal Zarmi sold 400 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $157.61, for a total value of $63,044.00. Following the sale, the director now owns 4,661 shares of the company’s stock, valued at approximately $734,620.21. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 25,744 shares of company stock worth $4,089,571. 0.61% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on GDDY shares. Raymond James boosted their price target on GoDaddy from $150.00 to $175.00 and gave the stock a “strong-buy” rating in a report on Friday, August 2nd. Robert W. Baird upped their target price on shares of GoDaddy from $190.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday. Piper Sandler lifted their price target on shares of GoDaddy from $172.00 to $176.00 and gave the stock a “neutral” rating in a report on Thursday. StockNews.com downgraded shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 7th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $170.00 target price on shares of GoDaddy in a research note on Monday, October 7th. Five research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $170.23.

GoDaddy Company Profile

GoDaddy Inc engages in the design and development of cloud-based products in the United States and internationally. It operates through two segments: Applications and Commerce, and Core Platform. The Applications and Commerce segment provides applications products, including Websites + Marketing, a mobile-optimized online tool that enables customers to build websites and e-commerce enabled online stores; and Managed WordPress, a streamlined and optimized website building that allows customers to easily build and manage a faster WordPress site; Managed WooCommerce Stores to sell anything and anywhere online; and marketing tools and services, such as GoDaddy Studio mobile application, search engine optimization, Meta and Google My Business, and email and social media marketing designed to help businesses acquire and engage customers and create content.