GoDaddy (NYSE:GDDY) Posts Quarterly Earnings Results, Beats Estimates By $0.22 EPS

GoDaddy (NYSE:GDDY) released its quarterly earnings results on Tuesday. The technology company reported $1.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.22, FiscalAI reports. The business had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.27 billion. GoDaddy had a return on equity of 231.34% and a net margin of 17.01%.

GoDaddy Trading Up 5.3%

GDDY traded up $4.61 during midday trading on Tuesday, hitting $92.37. The company’s stock had a trading volume of 3,503,978 shares, compared to its average volume of 1,853,865. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 41.06. The firm has a market cap of $12.48 billion, a P/E ratio of 15.95, a PEG ratio of 0.82 and a beta of 0.94. The firm has a 50-day moving average price of $108.03 and a two-hundred day moving average price of $126.13. GoDaddy has a 52-week low of $86.78 and a 52-week high of $193.55.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Jefferies Financial Group cut their target price on shares of GoDaddy from $140.00 to $100.00 and set a “hold” rating for the company in a research report on Monday. UBS Group cut their price objective on GoDaddy from $160.00 to $145.00 and set a “neutral” rating for the company in a research report on Friday, October 31st. Evercore lowered their target price on GoDaddy from $180.00 to $145.00 and set an “in-line” rating on the stock in a report on Friday, October 31st. B. Riley Financial cut their price target on GoDaddy from $225.00 to $215.00 and set a “buy” rating for the company in a report on Friday, October 31st. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of GoDaddy in a research note on Wednesday, January 28th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $161.21.

Insider Activity at GoDaddy

In other news, CFO Mark Mccaffrey sold 3,317 shares of the firm’s stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $127.94, for a total value of $424,376.98. Following the transaction, the chief financial officer directly owned 66,816 shares in the company, valued at $8,548,439.04. This trade represents a 4.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Amanpal Singh Bhutani sold 6,932 shares of GoDaddy stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $127.94, for a total value of $886,880.08. Following the completion of the transaction, the chief executive officer directly owned 399,133 shares in the company, valued at $51,065,076.02. This represents a 1.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 13,615 shares of company stock worth $1,743,102. 0.70% of the stock is owned by insiders.

Institutional Investors Weigh In On GoDaddy

Several large investors have recently made changes to their positions in the business. Brown Brothers Harriman & Co. raised its stake in shares of GoDaddy by 145.6% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 253 shares of the technology company’s stock valued at $35,000 after acquiring an additional 150 shares during the period. GW&K Investment Management LLC boosted its position in GoDaddy by 57.6% during the 4th quarter. GW&K Investment Management LLC now owns 498 shares of the technology company’s stock worth $62,000 after purchasing an additional 182 shares during the period. CIBC Private Wealth Group LLC increased its holdings in GoDaddy by 67.1% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 610 shares of the technology company’s stock valued at $83,000 after purchasing an additional 245 shares in the last quarter. Los Angeles Capital Management LLC purchased a new position in GoDaddy in the fourth quarter valued at about $80,000. Finally, Osterweis Capital Management Inc. purchased a new position in GoDaddy in the second quarter valued at about $152,000. Institutional investors and hedge funds own 90.28% of the company’s stock.

GoDaddy Company Profile

GoDaddy is a technology company that provides a suite of online services aimed primarily at small businesses, entrepreneurs and individuals looking to establish and grow an online presence. The company’s core activities include domain name registration and aftermarket services, a range of website hosting options, and tools for building, managing and promoting websites. Its product mix is designed to simplify the technical aspects of running a website so customers can focus on their businesses.

Product and service offerings span website builders and managed WordPress hosting, shared and dedicated hosting, e-commerce capabilities, email and productivity solutions, SSL certificates and site security tools, and online marketing and search engine optimization services.