GoDaddy (NYSE:GDDY) Announces Earnings Results, Misses Estimates By $0.06 EPS

GoDaddy (NYSE:GDDY) released its quarterly earnings data on Thursday. The technology company reported $1.01 earnings per share for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.06), Briefing.com reports. GoDaddy had a net margin of 41.12% and a negative return on equity of 363.95%. The business had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.11 billion. During the same quarter in the prior year, the firm posted $0.63 earnings per share. The firm’s quarterly revenue was up 7.3% on a year-over-year basis. GoDaddy updated its Q3 2024 guidance to EPS and its FY 2024 guidance to EPS.

GoDaddy Trading Up 7.0 %

GDDY stock traded up $9.84 during trading on Friday, reaching $151.25. The company had a trading volume of 2,407,777 shares, compared to its average volume of 1,159,537. GoDaddy has a 52 week low of $69.18 and a 52 week high of $152.09. The company has a market cap of $21.58 billion, a P/E ratio of 12.56 and a beta of 1.14. The business has a 50 day moving average of $141.77 and a 200 day moving average of $127.17. The company has a debt-to-equity ratio of 9.15, a current ratio of 0.55 and a quick ratio of 0.55.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on GDDY shares. Royal Bank of Canada upped their price target on shares of GoDaddy from $124.00 to $145.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. StockNews.com raised shares of GoDaddy from a “buy” rating to a “strong-buy” rating in a report on Tuesday, July 30th. JPMorgan Chase & Co. upped their price target on shares of GoDaddy from $136.00 to $175.00 and gave the stock an “overweight” rating in a report on Wednesday, May 29th. Piper Sandler upped their price target on shares of GoDaddy from $145.00 to $160.00 and gave the stock an “overweight” rating in a report on Friday. Finally, Evercore ISI upped their price target on shares of GoDaddy from $110.00 to $135.00 and gave the stock an “in-line” rating in a report on Friday, May 3rd. Four equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $158.75.

Insider Buying and Selling

In other GoDaddy news, COO Roger Chen sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $139.79, for a total transaction of $559,160.00. Following the completion of the transaction, the chief operating officer now owns 192,632 shares of the company’s stock, valued at $26,928,027.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other GoDaddy news, COO Roger Chen sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $139.79, for a total transaction of $559,160.00. Following the completion of the transaction, the chief operating officer now owns 192,632 shares of the company’s stock, valued at $26,928,027.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Amanpal Singh Bhutani sold 4,500 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $139.79, for a total transaction of $629,055.00. Following the transaction, the chief executive officer now directly owns 365,398 shares of the company’s stock, valued at approximately $51,078,986.42. The disclosure for this sale can be found here. Insiders sold a total of 46,071 shares of company stock valued at $6,385,206 over the last three months. Corporate insiders own 0.61% of the company’s stock.

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.