FY2024 Earnings Forecast for GoDaddy Issued By William Blair

GoDaddy Inc. (NYSE:GDDY) – Investment analysts at William Blair lifted their FY2024 EPS estimates for GoDaddy in a research note issued to investors on Wednesday, October 30th. William Blair analyst A. Bhatia now expects that the technology company will post earnings of $4.98 per share for the year, up from their previous estimate of $4.89. The consensus estimate for GoDaddy’s current full-year earnings is $5.07 per share. William Blair also issued estimates for GoDaddy’s Q4 2024 earnings at $1.47 EPS, Q3 2025 earnings at $1.62 EPS, Q4 2025 earnings at $1.75 EPS and FY2026 earnings at $7.94 EPS.

Several other equities research analysts also recently weighed in on GDDY. StockNews.com raised shares of GoDaddy from a “buy” rating to a “strong-buy” rating in a report on Thursday. Benchmark upped their price objective on shares of GoDaddy from $186.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday. Raymond James upped their price objective on shares of GoDaddy from $150.00 to $175.00 and gave the stock a “strong-buy” rating in a report on Friday, August 2nd. Piper Sandler upped their price objective on shares of GoDaddy from $172.00 to $176.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, Royal Bank of Canada upped their price target on shares of GoDaddy from $145.00 to $175.00 and gave the company an “outperform” rating in a report on Monday, August 5th. Five research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $170.23.

GoDaddy Stock Performance

GDDY stock opened at $166.68 on Friday. The company has a market capitalization of $23.50 billion, a P/E ratio of 12.88 and a beta of 1.12. The company has a 50-day simple moving average of $159.17 and a 200 day simple moving average of $146.82. GoDaddy has a fifty-two week low of $72.14 and a fifty-two week high of $171.93. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 24.13.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.07. GoDaddy had a net margin of 41.74% and a return on equity of 313.25%. The company had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter in the previous year, the company posted $0.89 earnings per share. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year.

Hedge Funds Weigh In On GoDaddy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. ORG Wealth Partners LLC bought a new position in GoDaddy during the third quarter valued at approximately $30,000. Transcendent Capital Group LLC bought a new position in GoDaddy during the second quarter valued at approximately $28,000. ORG Partners LLC bought a new position in GoDaddy during the second quarter valued at approximately $32,000. International Assets Investment Management LLC bought a new position in shares of GoDaddy in the second quarter valued at approximately $36,000. Finally, Carolina Wealth Advisors LLC bought a new position in shares of GoDaddy in the third quarter valued at approximately $49,000. Institutional investors own 90.28% of the company’s stock.

Insider Transactions at GoDaddy

In other news, Director Sigal Zarmi sold 400 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $157.61, for a total value of $63,044.00. Following the completion of the sale, the director now directly owns 4,661 shares of the company’s stock, valued at $734,620.21. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Sigal Zarmi sold 400 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $157.61, for a total value of $63,044.00. Following the completion of the sale, the director now directly owns 4,661 shares of the company’s stock, valued at $734,620.21. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Roger Chen sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $152.17, for a total transaction of $152,170.00. Following the transaction, the chief operating officer now directly owns 187,632 shares in the company, valued at approximately $28,551,961.44. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 25,744 shares of company stock valued at $4,089,571 over the last three months. 0.61% of the stock is owned by corporate insiders.

About GoDaddy

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.