Q3 2019 Earnings Forecast for Godaddy Inc Issued By Jefferies Financial Group (NYSE:GDDY)

Godaddy Inc (NYSE:GDDY) – Jefferies Financial Group dropped their Q3 2019 earnings estimates for Godaddy in a research note issued to investors on Friday, August 2nd, according to Zacks Investment Research. Jefferies Financial Group analyst B. Thill now anticipates that the technology company will post earnings of $0.20 per share for the quarter, down from their prior estimate of $0.26. Jefferies Financial Group also issued estimates for Godaddy’s Q4 2019 earnings at $0.27 EPS and FY2020 earnings at $1.08 EPS.

Godaddy (NYSE:GDDY) last posted its quarterly earnings results on Thursday, August 1st. The technology company reported $0.13 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.17 by ($0.04). The company had revenue of $737.20 million for the quarter, compared to analysts’ expectations of $735.40 million. Godaddy had a return on equity of 11.44% and a net margin of 1.98%. The business’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.11 EPS.

A number of other equities analysts also recently commented on the stock. Zacks Investment Research raised shares of Godaddy from a “hold” rating to a “buy” rating and set a $91.00 target price on the stock in a research note on Tuesday, April 30th. ValuEngine downgraded shares of Godaddy from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Raymond James cut their target price on shares of Godaddy from $86.00 to $85.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Morgan Stanley set a $95.00 target price on shares of Godaddy and gave the company a “buy” rating in a research note on Friday, May 3rd. Finally, Barclays reissued a “buy” rating and issued a $90.00 target price on shares of Godaddy in a research note on Monday, May 6th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $88.89.

NYSE:GDDY opened at $62.60 on Monday. The stock’s 50 day moving average is $71.01. Godaddy has a fifty-two week low of $56.67 and a fifty-two week high of $84.97. The company has a debt-to-equity ratio of 2.64, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a market capitalization of $11.35 billion, a P/E ratio of 99.37, a P/E/G ratio of 7.19 and a beta of 0.63.

In related news, insider Nima Kelly sold 2,000 shares of Godaddy stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $74.09, for a total transaction of $148,180.00. Following the sale, the insider now owns 120,451 shares of the company’s stock, valued at approximately $8,924,214.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Scott Wagner sold 37,000 shares of Godaddy stock in a transaction on Monday, May 20th. The stock was sold at an average price of $73.87, for a total transaction of $2,733,190.00. The disclosure for this sale can be found here. Insiders have sold a total of 79,143 shares of company stock worth $5,705,213 in the last ninety days. 12.64% of the stock is currently owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in GDDY. Advisor Group Inc. grew its holdings in Godaddy by 1.5% during the 2nd quarter. Advisor Group Inc. now owns 10,545 shares of the technology company’s stock worth $740,000 after acquiring an additional 155 shares in the last quarter. Signaturefd LLC grew its holdings in Godaddy by 36.0% during the 1st quarter. Signaturefd LLC now owns 722 shares of the technology company’s stock worth $54,000 after acquiring an additional 191 shares in the last quarter. World Asset Management Inc grew its holdings in Godaddy by 3.5% during the 2nd quarter. World Asset Management Inc now owns 5,777 shares of the technology company’s stock worth $405,000 after acquiring an additional 194 shares in the last quarter. Commonwealth Bank of Australia grew its holdings in Godaddy by 80.1% during the 2nd quarter. Commonwealth Bank of Australia now owns 508 shares of the technology company’s stock worth $35,000 after acquiring an additional 226 shares in the last quarter. Finally, Lindbrook Capital LLC grew its holdings in Godaddy by 65.4% during the 1st quarter. Lindbrook Capital LLC now owns 574 shares of the technology company’s stock worth $43,000 after acquiring an additional 227 shares in the last quarter. 97.98% of the stock is currently owned by hedge funds and other institutional investors.

About Godaddy

GoDaddy Inc designs and develops cloud-based technology products for small businesses, Web design professionals, and individuals in the United States and internationally. The company provides domain name registration product that enables to engage customers at the initial stage of establishing a digital identity; and hosting products, including shared Website hosting, Website hosting on virtual private servers and virtual dedicated servers, managed hosting, and security.

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