GoDaddy (NYSE:GDDY) Issues Earnings Results, Beats Estimates By $0.07 EPS

by · The Markets Daily

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

GoDaddy Stock Up 3.2 %

Shares of GDDY stock traded up $5.20 during trading hours on Thursday, reaching $166.80. 2,674,599 shares of the company’s stock were exchanged, compared to its average volume of 1,467,689. GoDaddy has a 1 year low of $72.14 and a 1 year high of $171.93. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 24.13. The stock has a market cap of $23.80 billion, a PE ratio of 13.97 and a beta of 1.12. The stock’s fifty day moving average price is $159.08 and its two-hundred day moving average price is $146.68.

Insider Activity at GoDaddy

In other GoDaddy news, CAO Nick Daddario sold 684 shares of the stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $157.23, for a total transaction of $107,545.32. Following the sale, the chief accounting officer now directly owns 17,704 shares of the company’s stock, valued at approximately $2,783,599.92. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CAO Nick Daddario sold 684 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $157.23, for a total value of $107,545.32. Following the completion of the transaction, the chief accounting officer now directly owns 17,704 shares of the company’s stock, valued at approximately $2,783,599.92. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sigal Zarmi sold 400 shares of the stock in a transaction dated 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 owns 4,661 shares of the company’s stock, valued at $734,620.21. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 25,744 shares of company stock valued at $4,089,571 in the last three months. 0.61% of the stock is owned by insiders.

Analyst Ratings Changes

GDDY has been the topic of several analyst reports. Benchmark boosted their target price on GoDaddy from $186.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday. B. Riley lifted their price target on shares of GoDaddy from $170.00 to $190.00 and gave the stock a “buy” rating in a research note 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. Robert W. Baird increased their price target on GoDaddy from $190.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, Raymond James boosted their price objective on GoDaddy from $150.00 to $175.00 and gave the company a “strong-buy” rating in a report on Friday, August 2nd. Five investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, GoDaddy currently has an average rating of “Moderate Buy” and a consensus price target of $170.23.

Get Our Latest Analysis on GDDY

About GoDaddy

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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.

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