Godaddy Inc (GDDY) Expected to Earn Q3 2018 Earnings of $0.10 Per Share
Godaddy Inc (NYSE:GDDY) – Investment analysts at Wedbush issued their Q3 2018 earnings per share estimates for shares of Godaddy in a report issued on Wednesday, October 24th. Wedbush analyst Y. Arounian forecasts that the technology company will post earnings of $0.10 per share for the quarter. Wedbush has a “Neutral” rating on the stock. Wedbush also issued estimates for Godaddy’s Q4 2018 earnings at $0.11 EPS, FY2018 earnings at $0.33 EPS, Q1 2019 earnings at $0.09 EPS, Q2 2019 earnings at $0.21 EPS, Q3 2019 earnings at $0.24 EPS, Q4 2019 earnings at $0.24 EPS and FY2019 earnings at $0.77 EPS.
A number of other brokerages have also weighed in on GDDY. Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $90.00 price objective on shares of Godaddy in a report on Friday, July 20th. Zacks Investment Research lowered Godaddy from a “buy” rating to a “hold” rating in a report on Monday, August 13th. JPMorgan Chase & Co. lifted their price objective on Godaddy to $80.00 and gave the company a “neutral” rating in a report on Friday, August 3rd. SunTrust Banks lifted their price objective on Godaddy to $87.00 and gave the company a “buy” rating in a report on Monday, July 30th. Finally, Morgan Stanley lifted their price objective on Godaddy from $72.00 to $81.00 and gave the company an “overweight” rating in a report on Monday, August 6th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and fourteen have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $77.60.
Godaddy (NYSE:GDDY) last released its quarterly earnings results on Thursday, August 2nd. The technology company reported $0.11 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.03. Godaddy had a return on equity of 8.78% and a net margin of 5.83%. The firm had revenue of $652.00 million for the quarter, compared to analyst estimates of $643.59 million. During the same quarter last year, the company posted $0.10 earnings per share. The business’s revenue was up 16.8% on a year-over-year basis.
In other news, EVP Nima Kelly sold 661 shares of the business’s stock in a transaction that occurred on Monday, September 10th. The stock was sold at an average price of $80.41, for a total transaction of $53,151.01. Following the sale, the executive vice president now owns 52,075 shares of the company’s stock, valued at approximately $4,187,350.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder 2006 Fund (Gdg) L.P. Kkr sold 3,500,000 shares of the business’s stock in a transaction that occurred on Friday, August 17th. The stock was sold at an average price of $75.61, for a total value of $264,635,000.00. The disclosure for this sale can be found here. Insiders sold a total of 7,789,360 shares of company stock worth $589,718,410 in the last ninety days. 7.63% of the stock is owned by corporate insiders.
Several large investors have recently made changes to their positions in the company. BlackRock Inc. boosted its stake in shares of Godaddy by 61.1% during the 2nd quarter. BlackRock Inc. now owns 8,629,570 shares of the technology company’s stock worth $609,247,000 after acquiring an additional 3,271,953 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Godaddy by 9.6% during the 2nd quarter. Renaissance Technologies LLC now owns 4,154,300 shares of the technology company’s stock worth $293,294,000 after acquiring an additional 364,800 shares in the last quarter. First Trust Advisors LP boosted its stake in shares of Godaddy by 20.8% during the 2nd quarter. First Trust Advisors LP now owns 3,549,257 shares of the technology company’s stock worth $250,578,000 after acquiring an additional 611,798 shares in the last quarter. Voya Investment Management LLC boosted its stake in shares of Godaddy by 599.6% during the 2nd quarter. Voya Investment Management LLC now owns 1,833,104 shares of the technology company’s stock worth $129,417,000 after acquiring an additional 1,571,091 shares in the last quarter. Finally, Bank of America Corp DE boosted its stake in shares of Godaddy by 154.4% during the 2nd quarter. Bank of America Corp DE now owns 1,696,012 shares of the technology company’s stock worth $119,738,000 after acquiring an additional 1,029,426 shares in the last quarter. 93.65% of the stock is currently owned by institutional investors and hedge funds.
GoDaddy Inc designs and develops cloud-based technology products for small businesses, Web design professionals, and individuals in the United States and internationally. It provides domain name registration product that enables to engage customers at the initial stage of establishing a digital identity; hosting products, such as shared Website hosting, Website hosting on virtual private servers and virtual dedicated servers, managed hosting, and security.
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