$642.92 Million in Sales Expected for GoDaddy (GDDY) This Quarter

Brokerages expect GoDaddy (NYSE:GDDY) to report sales of $642.92 million for the current fiscal quarter, Zacks reports. Ten analysts have made estimates for GoDaddy’s earnings, with estimates ranging from $639.01 million to $647.00 million. GoDaddy posted sales of $557.80 million during the same quarter last year, which indicates a positive year-over-year growth rate of 15.3%. The business is expected to issue its next earnings results on Tuesday, August 14th.

According to Zacks, analysts expect that GoDaddy will report full year sales of $2.63 billion for the current year, with estimates ranging from $2.60 billion to $2.64 billion. For the next financial year, analysts expect that the company will post sales of $2.94 billion per share, with estimates ranging from $2.89 billion to $2.99 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover GoDaddy.

GoDaddy (NYSE:GDDY) last released its quarterly earnings data on Tuesday, May 8th. The technology company reported $0.02 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.02. GoDaddy had a return on equity of 11.05% and a net margin of 6.18%. The business had revenue of $633.20 million for the quarter, compared to analysts’ expectations of $622.54 million. During the same quarter in the previous year, the business posted $0.01 EPS. GoDaddy’s revenue for the quarter was up 29.3% on a year-over-year basis.

Several research firms have recently weighed in on GDDY. JMP Securities reiterated an “outperform” rating and set a $84.00 price objective on shares of GoDaddy in a report on Wednesday, May 16th. ValuEngine upgraded GoDaddy from a “buy” rating to a “strong-buy” rating in a report on Wednesday, May 9th. TheStreet cut GoDaddy from a “b” rating to a “c+” rating in a report on Thursday. Royal Bank of Canada lifted their price objective on GoDaddy to $77.00 and gave the company an “outperform” rating in a report on Wednesday, May 9th. Finally, Morgan Stanley lifted their price objective on GoDaddy from $64.00 to $72.00 and gave the company an “overweight” rating in a report on Wednesday, May 9th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $66.93.

Shares of GoDaddy traded down $0.55, hitting $70.79, during trading on Wednesday, Marketbeat Ratings reports. 3,947,400 shares of the company’s stock traded hands, compared to its average volume of 1,452,977. GoDaddy has a 52 week low of $40.22 and a 52 week high of $71.81. The company has a debt-to-equity ratio of 4.04, a current ratio of 0.64 and a quick ratio of 0.64. The stock has a market capitalization of $12.19 billion, a PE ratio of 168.55, a price-to-earnings-growth ratio of 8.55 and a beta of 0.55.

In other GoDaddy news, insider Barbara J. Rechterman sold 35,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $56.09, for a total transaction of $1,963,150.00. Following the transaction, the insider now owns 46,113 shares of the company’s stock, valued at approximately $2,586,478.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Barbara J. Rechterman sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 16th. The stock was sold at an average price of $69.29, for a total value of $692,900.00. Following the transaction, the insider now directly owns 70,795 shares in the company, valued at approximately $4,905,385.55. The disclosure for this sale can be found here. In the last three months, insiders sold 13,625,305 shares of company stock worth $808,225,673. 7.63% of the stock is owned by insiders.

Several large investors have recently bought and sold shares of GDDY. Technology Crossover Management VII Ltd. increased its position in shares of GoDaddy by 263.1% during the 4th quarter. Technology Crossover Management VII Ltd. now owns 25,790,717 shares of the technology company’s stock worth $1,296,757,000 after purchasing an additional 18,688,095 shares during the last quarter. Winslow Capital Management LLC acquired a new position in shares of GoDaddy during the 1st quarter worth approximately $257,700,000. Egerton Capital UK LLP acquired a new position in shares of GoDaddy during the 4th quarter worth approximately $47,953,000. Millennium Management LLC increased its position in shares of GoDaddy by 157.6% during the 1st quarter. Millennium Management LLC now owns 1,072,631 shares of the technology company’s stock worth $65,881,000 after purchasing an additional 656,261 shares during the last quarter. Finally, BlackRock Inc. increased its position in shares of GoDaddy by 15.0% during the 4th quarter. BlackRock Inc. now owns 5,029,012 shares of the technology company’s stock worth $252,860,000 after purchasing an additional 654,239 shares during the last quarter. 92.08% 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. It provides domain name registration product that enables to engage customers at the initial stage of establishing a digital identity; hosting products, such as shared Website hosting, Website hosting on virtual private servers and virtual dedicated servers, managed hosting, and security.

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Earnings History and Estimates for GoDaddy (NYSE:GDDY)

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