William Blair Analysts Raise Earnings Estimates for GoDaddy Inc. (NYSE:GDDY)

GoDaddy Inc. (NYSE:GDDY) – Investment analysts at William Blair increased their Q3 2024 earnings per share (EPS) estimates for shares of GoDaddy in a report issued on Friday, August 2nd. William Blair analyst A. Bhatia now expects that the technology company will post earnings per share of $1.22 for the quarter, up from their previous forecast of $1.09. William Blair has a “Outperform” rating on the stock. The consensus estimate for GoDaddy’s current full-year earnings is $4.81 per share. William Blair also issued estimates for GoDaddy’s Q4 2024 earnings at $1.46 EPS.

GDDY has been the topic of several other reports. Robert W. Baird lifted their price target on shares of GoDaddy from $175.00 to $190.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. B. Riley upped their price target on shares of GoDaddy from $143.00 to $170.00 and gave the stock a “buy” rating in a report on Friday, July 12th. Benchmark reissued a “buy” rating and set a $158.00 price objective on shares of GoDaddy in a report on Monday, July 29th. Royal Bank of Canada boosted their price objective on GoDaddy from $145.00 to $175.00 and gave the stock an “outperform” rating in a research report on Monday. Finally, UBS Group increased their target price on GoDaddy from $118.00 to $130.00 and gave the company a “neutral” rating in a research report on Friday, May 3rd. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $161.25.

GoDaddy Stock Up 3.5 %

NYSE GDDY opened at $152.01 on Monday. The business has a fifty day moving average price of $142.17 and a two-hundred day moving average price of $127.91. The stock has a market capitalization of $21.69 billion, a PE ratio of 12.63 and a beta of 1.14. GoDaddy has a fifty-two week low of $69.18 and a fifty-two week high of $154.80. The company has a debt-to-equity ratio of 9.15, a current ratio of 0.55 and a quick ratio of 0.55.

GoDaddy (NYSE:GDDY) last released its earnings results on Thursday, August 1st. The technology company reported $1.01 earnings per share for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.06). GoDaddy had a net margin of 41.12% and a negative return on equity of 363.95%. The company had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter in the previous year, the company posted $0.63 earnings per share. The business’s revenue was up 7.3% compared to the same quarter last year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in GDDY. Fiera Capital Corp boosted its position in GoDaddy by 1.3% in the fourth quarter. Fiera Capital Corp now owns 828,124 shares of the technology company’s stock worth $87,914,000 after purchasing an additional 10,312 shares during the last quarter. Louisiana State Employees Retirement System bought a new position in GoDaddy during the fourth quarter valued at about $4,204,000. Plato Investment Management Ltd increased its holdings in GoDaddy by 2,471.0% during the first quarter. Plato Investment Management Ltd now owns 6,479 shares of the technology company’s stock worth $769,000 after buying an additional 6,227 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its position in GoDaddy by 20.0% in the first quarter. CANADA LIFE ASSURANCE Co now owns 214,514 shares of the technology company’s stock worth $25,469,000 after acquiring an additional 35,703 shares during the period. Finally, Forsta AP Fonden boosted its stake in GoDaddy by 87.5% in the first quarter. Forsta AP Fonden now owns 84,000 shares of the technology company’s stock valued at $9,969,000 after acquiring an additional 39,200 shares during the last quarter. 90.28% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CEO Amanpal Singh Bhutani sold 3,000 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $146.48, for a total value of $439,440.00. Following the transaction, the chief executive officer now directly owns 362,398 shares in the company, valued at approximately $53,084,059.04. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other GoDaddy news, Director Leah Sweet sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $141.59, for a total transaction of $141,590.00. Following the completion of the sale, the director now directly owns 11,317 shares of the company’s stock, valued at approximately $1,602,374.03. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $146.48, for a total value of $439,440.00. Following the completion of the sale, the chief executive officer now directly owns 362,398 shares of the company’s stock, valued at $53,084,059.04. The disclosure for this sale can be found here. In the last three months, insiders have sold 53,071 shares of company stock valued at $7,410,566. 0.61% of the stock is owned by company insiders.

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.