GoDaddy Inc. (GDDY) Posts Quarterly Earnings Results, Beats Estimates By $0.10 EPS
GoDaddy Inc. (NYSE:GDDY) posted its quarterly earnings data on Tuesday. The technology company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.10, Morningstar.com reports. GoDaddy had a positive return on equity of 0.73% and a negative net margin of 0.28%. The business had revenue of $557.80 million during the quarter, compared to analysts’ expectations of $551.26 million. During the same quarter in the previous year, the firm earned ($0.11) EPS. The firm’s revenue was up 22.3% compared to the same quarter last year.
Shares of GoDaddy (NYSE:GDDY) opened at 42.45 on Wednesday. The company’s market capitalization is $3.85 billion. GoDaddy has a 1-year low of $31.59 and a 1-year high of $44.22. The stock has a 50 day moving average price of $42.75 and a 200 day moving average price of $39.15.
In other GoDaddy news, CEO Blake Irving sold 37,500 shares of the business’s stock in a transaction that occurred on Tuesday, June 13th. The shares were sold at an average price of $42.04, for a total transaction of $1,576,500.00. Following the completion of the transaction, the chief executive officer now directly owns 40,606 shares in the company, valued at $1,707,076.24. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Auguste Goldman sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $38.98, for a total transaction of $38,980.00. Following the transaction, the insider now owns 6,491 shares of the company’s stock, valued at $253,019.18. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 633,956 shares of company stock valued at $26,627,864. Company insiders own 25.70% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in GDDY. Marshall Wace North America L.P. increased its position in shares of GoDaddy by 280.7% in the second quarter. Marshall Wace North America L.P. now owns 2,134,170 shares of the technology company’s stock valued at $89,635,000 after buying an additional 1,573,572 shares in the last quarter. MARSHALL WACE ASIA Ltd bought a new stake in GoDaddy during the first quarter worth $21,303,000. Norges Bank bought a new stake in GoDaddy during the fourth quarter worth $15,881,000. Renaissance Technologies LLC boosted its stake in GoDaddy by 336.3% in the first quarter. Renaissance Technologies LLC now owns 532,700 shares of the technology company’s stock worth $20,189,000 after buying an additional 410,600 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in GoDaddy by 6.8% in the first quarter. Vanguard Group Inc. now owns 5,955,674 shares of the technology company’s stock worth $225,720,000 after buying an additional 380,343 shares during the last quarter.
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Several equities analysts recently weighed in on the company. Royal Bank Of Canada boosted their price objective on GoDaddy from $44.00 to $47.00 and gave the stock an “outperform” rating in a research report on Wednesday. B. Riley reissued a “buy” rating and set a $53.00 price objective on shares of GoDaddy in a research report on Wednesday. BidaskClub cut GoDaddy from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Barclays PLC boosted their price objective on GoDaddy from $45.00 to $47.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 19th. Finally, Zacks Investment Research cut GoDaddy from a “hold” rating to a “sell” rating in a report on Thursday, July 6th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the stock. GoDaddy presently has an average rating of “Buy” and a consensus price target of $44.33.
GoDaddy Inc is a technology provider to small businesses, Web design professionals and individuals. The Company delivers cloud-based products and personalized customer care. It operates a domain marketplace, where its customers can find the digital real estate that matches their idea. It provides Website building, hosting and security tools to help customers construct and protect online presence.
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