Godaddy Inc (NYSE:GDDY) – Equities researchers at B. Riley lowered their Q3 2019 EPS estimates for Godaddy in a research note issued on Wednesday, November 7th. B. Riley analyst S. Sinha now forecasts that the technology company will post earnings of $0.18 per share for the quarter, down from their prior estimate of $0.26. B. Riley also issued estimates for Godaddy’s Q4 2019 earnings at $0.21 EPS and FY2020 earnings at $1.27 EPS.
Godaddy (NYSE:GDDY) last issued its quarterly earnings results on Tuesday, November 6th. The technology company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.10). Godaddy had a net margin of 4.96% and a return on equity of 8.42%. The business had revenue of $679.50 million for the quarter, compared to analysts’ expectations of $673.79 million. During the same quarter in the prior year, the firm posted $0.17 EPS. The business’s quarterly revenue was up 16.7% compared to the same quarter last year.
Other analysts have also recently issued research reports about the company. TheStreet raised Godaddy from a “c+” rating to a “b-” rating in a research report on Friday, August 24th. SunTrust Banks reissued a “buy” rating and set a $87.00 price objective on shares of Godaddy in a research report on Monday, August 6th. Zacks Investment Research raised Godaddy from a “hold” rating to a “buy” rating and set a $93.00 price objective for the company in a research report on Monday, October 1st. ValuEngine cut Godaddy from a “strong-buy” rating to a “buy” rating in a research report on Thursday, October 11th. Finally, Citigroup raised Godaddy from a “neutral” rating to a “buy” rating in a research report on Thursday, October 11th. One 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. Godaddy has a consensus rating of “Buy” and an average target price of $77.87.
Shares of GDDY stock opened at $66.87 on Thursday. Godaddy has a 1-year low of $45.87 and a 1-year high of $84.97. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 3.56. The firm has a market cap of $12.47 billion, a PE ratio of 159.21, a price-to-earnings-growth ratio of 8.06 and a beta of 0.84.
In other Godaddy news, major shareholder 2006 Fund (Gdg) L.P. Kkr sold 3,500,000 shares of the business’s stock in a transaction dated Friday, August 17th. The stock was sold at an average price of $75.61, for a total value of $264,635,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Robert R. Parsons sold 3,890,942 shares of the business’s stock in a transaction dated Friday, August 17th. The stock was sold at an average price of $75.61, for a total value of $294,194,124.62. The disclosure for this sale can be found here. Insiders sold 7,733,727 shares of company stock valued at $585,453,642 in the last ninety days. Insiders own 7.63% of the company’s stock.
Several large investors have recently made changes to their positions in the business. Rational Advisors LLC acquired a new stake in shares of Godaddy in the third quarter worth about $1,618,000. AXA lifted its position in shares of Godaddy by 27.5% in the third quarter. AXA now owns 53,287 shares of the technology company’s stock worth $4,444,000 after buying an additional 11,506 shares during the last quarter. Catalyst Capital Advisors LLC lifted its position in shares of Godaddy by 15,222.3% in the third quarter. Catalyst Capital Advisors LLC now owns 32,330 shares of the technology company’s stock worth $2,696,000 after buying an additional 32,119 shares during the last quarter. Piedmont Investment Advisors Inc. acquired a new stake in shares of Godaddy in the third quarter worth about $967,000. Finally, Swiss National Bank lifted its position in shares of Godaddy by 4.3% in the third quarter. Swiss National Bank now owns 513,500 shares of the technology company’s stock worth $42,821,000 after buying an additional 21,400 shares during the last quarter. 93.88% of the stock is owned by institutional investors.
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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