FY2021 EPS Estimates for Godaddy Inc Decreased by SunTrust Banks (GDDY)

Godaddy Inc (NYSE:GDDY) – Equities research analysts at SunTrust Banks lowered their FY2021 earnings estimates for shares of Godaddy in a report released on Tuesday, November 6th. SunTrust Banks analyst N. Khan now anticipates that the technology company will post earnings per share of $1.79 for the year, down from their prior estimate of $2.06. SunTrust Banks currently has a “Buy” rating and a $87.00 target price on the stock. SunTrust Banks also issued estimates for Godaddy’s FY2022 earnings at $2.32 EPS.

Several other research analysts have also recently weighed in on the stock. Morgan Stanley set a $85.00 price objective on shares of Godaddy and gave the stock a “buy” rating in a research report on Wednesday. TheStreet cut shares of Godaddy from a “b-” rating to a “c+” rating in a research report on Monday, October 29th. Wedbush restated a “neutral” rating on shares of Godaddy in a research report on Wednesday, October 24th. Citigroup upgraded shares of Godaddy from a “neutral” rating to a “buy” rating in a research report on Thursday, October 11th. Finally, ValuEngine cut shares of Godaddy from a “strong-buy” rating to a “buy” rating in a research report on Thursday, October 11th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and fourteen have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $77.87.

GDDY stock opened at $66.87 on Thursday. 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 company has a market capitalization of $12.47 billion, a P/E ratio of 159.21, a P/E/G ratio of 8.06 and a beta of 0.84. Godaddy has a 1-year low of $45.87 and a 1-year high of $84.97.

Godaddy (NYSE:GDDY) last announced its quarterly earnings results on Tuesday, November 6th. The technology company reported $0.08 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($0.10). Godaddy had a net margin of 4.96% and a return on equity of 8.42%. The company had revenue of $679.50 million for the quarter, compared to the consensus estimate of $673.79 million. During the same quarter in the prior year, the company earned $0.17 earnings per share. The company’s quarterly revenue was up 16.7% on a year-over-year basis.

A number of hedge funds and other institutional investors have recently modified their holdings of GDDY. Janus Henderson Group PLC grew its position in Godaddy by 1,389.9% during the third quarter. Janus Henderson Group PLC now owns 4,526,088 shares of the technology company’s stock valued at $377,430,000 after acquiring an additional 4,222,308 shares during the last quarter. BlackRock Inc. grew its position in Godaddy by 61.1% during the second quarter. BlackRock Inc. now owns 8,629,570 shares of the technology company’s stock valued at $609,247,000 after acquiring an additional 3,271,953 shares during the last quarter. Voya Investment Management LLC grew its position in Godaddy by 599.6% during the second quarter. Voya Investment Management LLC now owns 1,833,104 shares of the technology company’s stock valued at $129,417,000 after acquiring an additional 1,571,091 shares during the last quarter. Bank of America Corp DE grew its position in Godaddy by 154.4% during the second quarter. Bank of America Corp DE now owns 1,696,012 shares of the technology company’s stock valued at $119,738,000 after acquiring an additional 1,029,426 shares during the last quarter. Finally, First Trust Advisors LP grew its position in Godaddy by 20.8% during the second quarter. First Trust Advisors LP now owns 3,549,257 shares of the technology company’s stock valued at $250,578,000 after acquiring an additional 611,798 shares during the last quarter. Institutional investors and hedge funds own 93.88% of the company’s stock.

In other Godaddy news, major shareholder 2006 Fund (Gdg) L.P. Kkr sold 3,500,000 shares of the stock in a transaction that occurred on Friday, August 17th. The shares were sold at an average price of $75.61, for a total transaction of $264,635,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Rebecca Morrow sold 367 shares of the stock in a transaction that occurred on Friday, November 2nd. The shares were sold at an average price of $74.19, for a total transaction of $27,227.73. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,733,727 shares of company stock worth $585,453,642. 7.63% of the stock is owned by company insiders.

About Godaddy

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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Earnings History and Estimates for Godaddy (NYSE:GDDY)

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