B. Riley Analysts Reduce Earnings Estimates for GoDaddy Inc. (NYSE:GDDY)

GoDaddy Inc. (NYSE:GDDY) – Analysts at B. Riley dropped their FY2024 earnings estimates for GoDaddy in a report issued on Monday, May 6th. B. Riley analyst N. Khan now expects that the technology company will earn $5.34 per share for the year, down from their prior forecast of $5.51. B. Riley has a “Buy” rating and a $142.00 price target on the stock. The consensus estimate for GoDaddy’s current full-year earnings is $4.93 per share. B. Riley also issued estimates for GoDaddy’s FY2026 earnings at $8.67 EPS, FY2027 earnings at $10.42 EPS and FY2028 earnings at $12.41 EPS.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings data on Tuesday, February 13th. The technology company reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.03 by $0.05. GoDaddy had a net margin of 40.38% and a negative return on equity of 186.09%. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.10 billion.

Several other research analysts also recently weighed in on GDDY. UBS Group increased their price target on shares of GoDaddy from $118.00 to $130.00 and gave the stock a “neutral” rating in a research report on Friday, May 3rd. Robert W. Baird increased their price target on shares of GoDaddy from $130.00 to $150.00 and gave the stock an “outperform” rating in a research report on Monday, March 25th. Benchmark reiterated a “buy” rating and issued a $150.00 price target on shares of GoDaddy in a research report on Wednesday, May 1st. StockNews.com upgraded shares of GoDaddy from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, February 14th. Finally, Barclays raised their price objective on shares of GoDaddy from $130.00 to $150.00 and gave the company an “overweight” rating in a research report on Friday, May 3rd. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $142.73.

GoDaddy Stock Up 2.4 %

GDDY opened at $131.36 on Wednesday. The company has a current ratio of 0.55, a quick ratio of 0.47 and a debt-to-equity ratio of 9.15. GoDaddy has a 1-year low of $68.98 and a 1-year high of $131.90. The company has a market capitalization of $18.72 billion, a PE ratio of 10.91 and a beta of 1.09. The firm’s 50 day simple moving average is $120.63 and its two-hundred day simple moving average is $107.64.

Insider Activity at GoDaddy

In related news, COO Roger Chen sold 4,000 shares of the firm’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $122.60, for a total transaction of $490,400.00. Following the completion of the transaction, the chief operating officer now directly owns 200,632 shares of the company’s stock, valued at $24,597,483.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CAO Nick Daddario sold 1,823 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $110.54, for a total value of $201,514.42. Following the completion of the sale, the chief accounting officer now owns 25,263 shares in the company, valued at approximately $2,792,572.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Roger Chen sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $122.60, for a total transaction of $490,400.00. Following the completion of the sale, the chief operating officer now owns 200,632 shares of the company’s stock, valued at approximately $24,597,483.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 125,234 shares of company stock valued at $14,025,346. Corporate insiders own 0.54% of the company’s stock.

Institutional Investors Weigh In On GoDaddy

Institutional investors have recently made changes to their positions in the company. V Square Quantitative Management LLC bought a new stake in shares of GoDaddy in the 4th quarter valued at about $28,000. GAMMA Investing LLC raised its holdings in shares of GoDaddy by 102.3% in the 1st quarter. GAMMA Investing LLC now owns 263 shares of the technology company’s stock valued at $31,000 after purchasing an additional 133 shares in the last quarter. Frazier Financial Advisors LLC bought a new stake in shares of GoDaddy in the 4th quarter valued at about $33,000. Massmutual Trust Co. FSB ADV raised its holdings in shares of GoDaddy by 140.4% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 351 shares of the technology company’s stock valued at $37,000 after purchasing an additional 205 shares in the last quarter. Finally, Rise Advisors LLC bought a new stake in shares of GoDaddy in the 1st quarter valued at about $48,000. Institutional investors own 90.28% of the company’s stock.

GoDaddy Company Profile

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.