$835.31 Million in Sales Expected for Godaddy Inc (NYSE:GDDY) This Quarter
Wall Street brokerages expect Godaddy Inc (NYSE:GDDY) to report $835.31 million in sales for the current quarter, according to Zacks Investment Research. Nine analysts have made estimates for Godaddy’s earnings, with the lowest sales estimate coming in at $834.80 million and the highest estimate coming in at $837.87 million. Godaddy posted sales of $760.50 million during the same quarter last year, which would indicate a positive year over year growth rate of 9.8%. The firm is expected to issue its next quarterly earnings results on Wednesday, November 4th.
According to Zacks, analysts expect that Godaddy will report full year sales of $3.29 billion for the current year, with estimates ranging from $3.29 billion to $3.30 billion. For the next financial year, analysts forecast that the business will post sales of $3.63 billion, with estimates ranging from $3.60 billion to $3.68 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Godaddy.
Godaddy (NYSE:GDDY) last posted its quarterly earnings results on Wednesday, August 5th. The technology company reported ($4.06) EPS for the quarter, missing the Zacks’ consensus estimate of $0.17 by ($4.23). Godaddy had a positive return on equity of 50.04% and a negative net margin of 15.72%. The business had revenue of $806.40 million during the quarter, compared to analysts’ expectations of $797.91 million.
In other Godaddy news, CFO Raymond E. Winborne, Jr. sold 911 shares of the company’s stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $84.31, for a total value of $76,806.41. Following the transaction, the chief financial officer now owns 158,554 shares of the company’s stock, valued at approximately $13,367,687.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Nima Kelly sold 4,375 shares of the company’s stock in a transaction on Monday, August 31st. The shares were sold at an average price of $86.96, for a total value of $380,450.00. Following the completion of the transaction, the insider now directly owns 113,788 shares in the company, valued at approximately $9,895,004.48. The disclosure for this sale can be found here. In the last three months, insiders have sold 62,426 shares of company stock worth $4,865,757. Corporate insiders own 0.52% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. First Horizon Advisors Inc. grew its position in Godaddy by 272.2% in the 2nd quarter. First Horizon Advisors Inc. now owns 402 shares of the technology company’s stock valued at $29,000 after acquiring an additional 294 shares during the last quarter. Financial Management Professionals Inc. bought a new position in Godaddy in the 2nd quarter valued at $62,000. Cornerstone Advisors Inc. grew its position in Godaddy by 258.0% in the 2nd quarter. Cornerstone Advisors Inc. now owns 852 shares of the technology company’s stock valued at $62,000 after acquiring an additional 614 shares during the last quarter. IFP Advisors Inc bought a new position in Godaddy in the 2nd quarter valued at $71,000. Finally, CSat Investment Advisory L.P. lifted its holdings in shares of Godaddy by 26.0% in the 2nd quarter. CSat Investment Advisory L.P. now owns 1,614 shares of the technology company’s stock worth $118,000 after buying an additional 333 shares during the period. 97.42% of the stock is currently owned by institutional investors.
Shares of GDDY opened at $75.57 on Monday. The stock has a market capitalization of $12.69 billion, a price-to-earnings ratio of -24.70, a price-to-earnings-growth ratio of 2.69 and a beta of 0.87. Godaddy has a 1 year low of $40.25 and a 1 year high of $89.00. The business’s 50 day simple moving average is $78.87 and its 200-day simple moving average is $71.13. The company has a debt-to-equity ratio of 4.85, a current ratio of 0.44 and a quick ratio of 0.44.
GoDaddy Inc designs and develops cloud-based technology products for small businesses, Web design professionals, and individuals in the United States and internationally. The company provides domain name registration product that enables to engage customers at the initial stage of establishing a digital identity; and hosting products, including shared Website hosting, Website hosting on virtual private servers and virtual dedicated servers, managed hosting, and security.
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