GoDaddy Inc. (NYSE:GDDY) Expected to Announce Quarterly Sales of $885.39 Million

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Equities analysts expect that GoDaddy Inc. (NYSE:GDDY) will post $885.39 million in sales for the current quarter, according to Zacks Investment Research. Nine analysts have made estimates for GoDaddy’s earnings. The lowest sales estimate is $884.76 million and the highest is $886.66 million. GoDaddy reported sales of $792.00 million in the same quarter last year, which indicates a positive year over year growth rate of 11.8%. The company is scheduled to report its next quarterly earnings report after the market closes on Wednesday, May 5th.

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On average, analysts expect that GoDaddy will report full-year sales of $3.70 billion for the current year, with estimates ranging from $3.70 billion to $3.73 billion. For the next year, analysts forecast that the firm will post sales of $4.09 billion, with estimates ranging from $4.01 billion to $4.13 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow GoDaddy.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings data on Thursday, February 11th. The technology company reported $0.41 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.08. The company had revenue of $873.90 million for the quarter, compared to the consensus estimate of $865.17 million. GoDaddy had a negative net margin of 15.67% and a positive return on equity of 94.14%.

GDDY has been the topic of a number of research analyst reports. Barclays increased their price objective on shares of GoDaddy from $90.00 to $107.00 and gave the company an “overweight” rating in a research report on Friday, February 12th. Oppenheimer increased their price target on shares of GoDaddy from $92.00 to $110.00 and gave the stock an “outperform” rating in a research report on Friday, February 12th. Raymond James increased their price target on shares of GoDaddy from $96.00 to $107.00 and gave the stock a “strong-buy” rating in a research report on Friday, February 12th. Piper Sandler increased their price target on shares of GoDaddy from $93.00 to $100.00 and gave the stock an “overweight” rating in a research report on Friday, February 12th. Finally, Evercore ISI assumed coverage on shares of GoDaddy in a research report on Monday. They issued an “in-line” rating and a $87.00 price target on the stock. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $97.76.

In related news, CAO Nick Daddario sold 1,500 shares of the firm’s stock in a transaction on Tuesday, February 16th. The shares were sold at an average price of $85.83, for a total transaction of $128,745.00. Following the completion of the transaction, the chief accounting officer now directly owns 6,462 shares of the company’s stock, valued at $554,633.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Nima Kelly sold 3,446 shares of the firm’s stock in a transaction on Wednesday, February 10th. The shares were sold at an average price of $92.50, for a total transaction of $318,755.00. Following the transaction, the insider now directly owns 60,746 shares of the company’s stock, valued at $5,619,005. The disclosure for this sale can be found here. Insiders have sold 97,728 shares of company stock valued at $8,196,226 over the last ninety days. 0.52% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Neo Ivy Capital Management purchased a new position in shares of GoDaddy in the 4th quarter worth $31,000. Steward Partners Investment Advisory LLC grew its stake in shares of GoDaddy by 67.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 501 shares of the technology company’s stock worth $42,000 after buying an additional 201 shares in the last quarter. First Horizon Advisors Inc. grew its stake in shares of GoDaddy by 64.2% in the 4th quarter. First Horizon Advisors Inc. now owns 642 shares of the technology company’s stock worth $52,000 after buying an additional 251 shares in the last quarter. Simon Quick Advisors LLC grew its stake in shares of GoDaddy by 1,939.5% in the 4th quarter. Simon Quick Advisors LLC now owns 775 shares of the technology company’s stock worth $64,000 after buying an additional 737 shares in the last quarter. Finally, Exchange Traded Concepts LLC grew its stake in shares of GoDaddy by 465.8% in the 4th quarter. Exchange Traded Concepts LLC now owns 826 shares of the technology company’s stock worth $69,000 after buying an additional 680 shares in the last quarter. 97.22% of the stock is owned by institutional investors.

Shares of GoDaddy stock opened at $82.99 on Thursday. The company has a market cap of $14.11 billion, a price-to-earnings ratio of -26.77, a price-to-earnings-growth ratio of 1.97 and a beta of 0.96. The company’s 50 day moving average is $78.06 and its 200 day moving average is $79.30. GoDaddy has a twelve month low of $58.31 and a twelve month high of $93.75.

GoDaddy Company Profile

GoDaddy Inc engages in the design and development of cloud-based technology products 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. It also offers shared Website hosting products that provide various applications and products such as web analytics, SSL certificates, and WordPress; Website hosting on virtual private servers and virtual dedicated servers products, which allows customers to select the server configuration suited for their applications, requirements, and growth; managed hosting products to set up, monitor, maintain, secure, and patch software and servers for customers; and security products, a suite of tools designed to help secure customers’ online presence.

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