Godaddy Inc (GDDY) to Post Q4 2018 Earnings of $0.24 Per Share, Piper Jaffray Companies Forecasts

Godaddy Inc (NYSE:GDDY) – Piper Jaffray Companies decreased their Q4 2018 earnings estimates for shares of Godaddy in a report issued on Wednesday, November 7th. Piper Jaffray Companies analyst M. Olson now forecasts that the technology company will earn $0.24 per share for the quarter, down from their prior estimate of $0.26. Piper Jaffray Companies currently has a “Overweight” rating and a $90.00 price objective on the stock.

Several other analysts have also weighed in on GDDY. Zacks Investment Research lowered shares of Godaddy from a “buy” rating to a “hold” rating in a research note on Tuesday, July 17th. Barclays upped their price target on shares of Godaddy from $77.00 to $84.00 and gave the stock an “overweight” rating in a research report on Monday, July 23rd. SunTrust Banks upped their price target on shares of Godaddy to $87.00 and gave the stock a “buy” rating in a research report on Monday, July 30th. JPMorgan Chase & Co. upped their price target on shares of Godaddy to $80.00 and gave the stock a “neutral” rating in a research report on Friday, August 3rd. Finally, Morgan Stanley upped their price target on shares of Godaddy from $72.00 to $81.00 and gave the stock an “overweight” rating in a research report on Monday, August 6th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and fourteen have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $77.87.

GDDY stock opened at $64.46 on Thursday. The company has a debt-to-equity ratio of 3.56, a current ratio of 0.73 and a quick ratio of 0.73. Godaddy has a 1-year low of $45.87 and a 1-year high of $84.97. The firm has a market cap of $11.44 billion, a price-to-earnings ratio of 207.75, a price-to-earnings-growth ratio of 7.39 and a beta of 0.84.

Godaddy (NYSE:GDDY) last released its earnings results on Tuesday, November 6th. The technology company reported $0.08 earnings per share for the quarter, missing the 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 business had revenue of $679.50 million for the quarter, compared to the consensus estimate of $673.79 million. During the same quarter in the previous year, the firm earned $0.17 EPS. The firm’s revenue for the quarter was up 16.7% on a year-over-year basis.

In related news, Director Brian Sharples sold 1,200 shares of the company’s stock in a transaction dated Monday, November 5th. The shares were sold at an average price of $73.47, for a total value of $88,164.00. Following the completion of the sale, the director now owns 13,782 shares of the company’s stock, valued at $1,012,563.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Steven Aldrich sold 14,185 shares of the company’s stock in a transaction dated Monday, August 13th. The stock was sold at an average price of $76.01, for a total transaction of $1,078,201.85. Following the completion of the sale, the insider now directly owns 41,781 shares of the company’s stock, valued at approximately $3,175,773.81. The disclosure for this sale can be found here. Insiders have sold 7,733,727 shares of company stock valued at $585,453,642 in the last 90 days. Insiders own 7.63% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the stock. Canada Pension Plan Investment Board lifted its holdings in Godaddy by 26.0% in the third quarter. Canada Pension Plan Investment Board now owns 262,400 shares of the technology company’s stock worth $21,882,000 after purchasing an additional 54,200 shares during the period. DekaBank Deutsche Girozentrale lifted its holdings in Godaddy by 783.9% in the third quarter. DekaBank Deutsche Girozentrale now owns 65,013 shares of the technology company’s stock worth $5,288,000 after purchasing an additional 57,658 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Godaddy by 144.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 124,313 shares of the technology company’s stock worth $10,366,000 after purchasing an additional 73,496 shares during the period. BlackRock Inc. lifted its holdings in Godaddy by 15.5% in the third quarter. BlackRock Inc. now owns 9,965,469 shares of the technology company’s stock worth $831,020,000 after purchasing an additional 1,335,899 shares during the period. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its holdings in Godaddy by 6.6% in the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 55,610 shares of the technology company’s stock worth $4,637,000 after purchasing an additional 3,455 shares during the period. 93.88% of the stock is owned by institutional investors and hedge funds.

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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