Godaddy Inc (NYSE:GDDY) Expected to Announce Quarterly Sales of $734.99 Million

Wall Street analysts expect that Godaddy Inc (NYSE:GDDY) will post sales of $734.99 million for the current quarter, according to Zacks Investment Research. Ten analysts have issued estimates for Godaddy’s earnings, with estimates ranging from $733.90 million to $737.60 million. Godaddy reported sales of $651.60 million in the same quarter last year, which indicates a positive year over year growth rate of 12.8%. The business is expected to report its next earnings results on Thursday, August 1st.

On average, analysts expect that Godaddy will report full-year sales of $2.99 billion for the current year, with estimates ranging from $2.98 billion to $3.00 billion. For the next financial year, analysts anticipate that the business will report sales of $3.32 billion, with estimates ranging from $3.28 billion to $3.35 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Godaddy.

Godaddy (NYSE:GDDY) last posted its earnings results on Thursday, May 2nd. The technology company reported $0.07 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.12 by ($0.05). The business had revenue of $710.00 million during the quarter, compared to the consensus estimate of $711.18 million. Godaddy had a net margin of 3.17% and a return on equity of 11.89%. The business’s revenue was up 12.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.02 EPS.

A number of analysts recently weighed in on GDDY shares. Morgan Stanley set a $95.00 target price on shares of Godaddy and gave the company a “buy” rating in a research note on Friday, May 3rd. SunTrust Banks reissued a “buy” rating and issued a $89.00 target price on shares of Godaddy in a research note on Monday, April 29th. Barclays reissued a “buy” rating and issued a $90.00 target price on shares of Godaddy in a research note on Monday, May 6th. Zacks Investment Research cut shares of Godaddy from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. Finally, ValuEngine cut shares of Godaddy from a “buy” rating to a “hold” rating in a research note on Thursday, June 13th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $89.25.

NYSE GDDY opened at $70.15 on Friday. The company has a market capitalization of $12.08 billion, a PE ratio of 111.35, a P/E/G ratio of 5.49 and a beta of 0.75. The company has a 50-day simple moving average of $73.34. Godaddy has a twelve month low of $56.67 and a twelve month high of $84.97. The company has a debt-to-equity ratio of 2.72, a quick ratio of 0.82 and a current ratio of 0.82.

In other Godaddy news, insider Rebecca Morrow sold 385 shares of the business’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $72.51, for a total value of $27,916.35. Following the transaction, the insider now directly owns 8,700 shares in the company, valued at $630,837. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Nima Kelly sold 1,000 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $79.48, for a total transaction of $79,480.00. Following the completion of the transaction, the insider now owns 119,451 shares in the company, valued at $9,493,965.48. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 134,745 shares of company stock worth $10,112,830. Company insiders own 12.64% of the company’s stock.

Several hedge funds have recently made changes to their positions in GDDY. Vanguard Group Inc boosted its position in Godaddy by 12.0% during the third quarter. Vanguard Group Inc now owns 13,874,432 shares of the technology company’s stock worth $1,156,988,000 after purchasing an additional 1,486,378 shares in the last quarter. Toronto Dominion Bank boosted its position in Godaddy by 27.6% during the fourth quarter. Toronto Dominion Bank now owns 22,291 shares of the technology company’s stock worth $1,462,000 after purchasing an additional 4,817 shares in the last quarter. New York State Common Retirement Fund boosted its position in Godaddy by 19.9% during the fourth quarter. New York State Common Retirement Fund now owns 360,270 shares of the technology company’s stock worth $23,641,000 after purchasing an additional 59,770 shares in the last quarter. Tocqueville Asset Management L.P. boosted its position in Godaddy by 2.1% during the fourth quarter. Tocqueville Asset Management L.P. now owns 7,300 shares of the technology company’s stock worth $479,000 after purchasing an additional 150 shares in the last quarter. Finally, BlackRock Inc. boosted its position in Godaddy by 0.6% during the fourth quarter. BlackRock Inc. now owns 10,020,727 shares of the technology company’s stock worth $657,558,000 after purchasing an additional 55,258 shares in the last quarter. Institutional investors own 97.54% of the company’s stock.

Godaddy Company Profile

GoDaddy Inc designs and develops cloud-based technology products for small businesses, Web design professionals, and individuals in the United States and internationally. The company provides domain name registration product that enables to engage customers at the initial stage of establishing a digital identity; and hosting products, including 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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