GoDaddy (NYSE:GDDY) Announces Quarterly Earnings Results

GoDaddy (NYSE:GDDY) issued its earnings results on Wednesday. The technology company reported $1.32 EPS for the quarter, topping the consensus estimate of $1.25 by $0.07, Briefing.com reports. The firm had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.14 billion. GoDaddy had a return on equity of 313.25% and a net margin of 41.74%. The business’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.89 earnings per share. GoDaddy updated its FY 2024 guidance to EPS and its Q4 2024 guidance to EPS.

GoDaddy Stock Performance

Shares of NYSE:GDDY traded down $0.55 during trading on Friday, hitting $166.25. 434,373 shares of the company were exchanged, compared to its average volume of 1,462,555. The company has a market cap of $23.44 billion, a PE ratio of 12.88 and a beta of 1.12. The stock has a 50 day moving average of $159.17 and a 200 day moving average of $146.82. GoDaddy has a 52-week low of $74.12 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 other GoDaddy news, COO Roger Chen sold 1,000 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $164.16, for a total transaction of $164,160.00. Following the sale, the chief operating officer now owns 186,632 shares in the company, valued at $30,637,509.12. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, COO Roger Chen sold 1,000 shares of the firm’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $164.16, for a total transaction of $164,160.00. Following the sale, the chief operating officer now owns 186,632 shares in the company, valued at approximately $30,637,509.12. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $166.91, for a total transaction of $500,730.00. Following the sale, the chief executive officer now owns 358,773 shares in the company, valued at approximately $59,882,801.43. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 25,744 shares of company stock worth $4,089,571 over the last 90 days. Corporate insiders own 0.61% of the company’s stock.

Analyst Ratings Changes

GDDY has been the topic of several recent analyst reports. Royal Bank of Canada boosted their price target on GoDaddy from $145.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Benchmark boosted their price target on GoDaddy from $186.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday. StockNews.com raised GoDaddy from a “buy” rating to a “strong-buy” rating in a research report on Thursday. B. Riley upped their target price on GoDaddy from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Robert W. Baird upped their target price on GoDaddy from $190.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday. Five investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus 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.