Oppenheimer Weighs in on Godaddy Inc’s FY2018 Earnings (GDDY)

Godaddy Inc (NYSE:GDDY) – Oppenheimer reduced their FY2018 earnings per share estimates for Godaddy in a research note issued on Wednesday, November 7th. Oppenheimer analyst J. Helfstein now expects that the technology company will post earnings of $0.35 per share for the year, down from their prior forecast of $0.52. Oppenheimer also issued estimates for Godaddy’s Q4 2018 earnings at $0.14 EPS, FY2019 earnings at $0.74 EPS, FY2020 earnings at $1.14 EPS and FY2021 earnings at $1.90 EPS.

Several other research analysts also recently commented on GDDY. Zacks Investment Research downgraded shares of Godaddy from a “buy” rating to a “hold” rating in a research note on Tuesday, July 17th. Piper Jaffray Companies reissued an “overweight” rating and set a $90.00 price target on shares of Godaddy in a research note on Friday, July 20th. Barclays lifted their price target on shares of Godaddy from $77.00 to $84.00 and gave the stock an “overweight” rating in a research note on Monday, July 23rd. SunTrust Banks lifted their price target on shares of Godaddy to $87.00 and gave the stock a “buy” rating in a research note on Monday, July 30th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Godaddy to $80.00 and gave the stock a “neutral” rating in a research note on Friday, August 3rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and fourteen have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $77.87.

GDDY stock opened at $64.46 on Friday. The company has a market cap of $11.44 billion, a price-to-earnings ratio of 153.48, a price-to-earnings-growth ratio of 7.39 and a beta of 0.84. Godaddy has a one year low of $45.87 and a one 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.

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

Hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its stake in Godaddy by 16.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 305,259 shares of the technology company’s stock worth $18,749,000 after purchasing an additional 43,664 shares in the last quarter. Guggenheim Capital LLC boosted its stake in Godaddy by 7.1% in the 1st quarter. Guggenheim Capital LLC now owns 20,846 shares of the technology company’s stock worth $1,280,000 after purchasing an additional 1,390 shares in the last quarter. Royal Bank of Canada boosted its stake in Godaddy by 39.8% in the 1st quarter. Royal Bank of Canada now owns 121,803 shares of the technology company’s stock worth $7,482,000 after purchasing an additional 34,700 shares in the last quarter. DnB Asset Management AS bought a new position in Godaddy in the 2nd quarter worth about $1,031,000. Finally, IFM Investors Pty Ltd bought a new position in Godaddy in the 2nd quarter worth about $427,000. Hedge funds and other institutional investors own 93.88% of the company’s stock.

In other news, CFO Raymond E. Winborne, Jr. sold 75,000 shares of the business’s stock in a transaction on Monday, August 27th. The shares were sold at an average price of $78.33, for a total transaction of $5,874,750.00. Following the sale, the chief financial officer now owns 101,831 shares in the company, valued at approximately $7,976,422.23. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Brian Sharples sold 1,200 shares of the business’s stock in a transaction on Monday, November 5th. The shares were sold at an average price of $73.47, for a total transaction of $88,164.00. Following the sale, the director now owns 13,782 shares in the company, valued at approximately $1,012,563.54. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,733,727 shares of company stock worth $585,453,642. Insiders own 7.63% of the company’s stock.

Godaddy Company Profile

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.

Read More: Price to Earnings Ratio (PE), For Valuing Stocks

Earnings History and Estimates for Godaddy (NYSE:GDDY)

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