Godaddy (NYSE:GDDY) issued its quarterly earnings results on Thursday. The technology company reported $0.13 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by ($0.04), Morningstar.com reports. The company had revenue of $737.20 million during the quarter, compared to analyst estimates of $735.40 million. Godaddy had a net margin of 1.98% and a return on equity of 11.89%. The business’s revenue was up 13.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.11 EPS. Godaddy updated its Q3 2019 guidance to EPS and its FY 2019 guidance to EPS.
NYSE GDDY traded down $3.81 on Friday, hitting $70.42. 6,775,206 shares of the company’s stock were exchanged, compared to its average volume of 1,380,133. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 2.72. The firm has a 50-day moving average price of $72.18. Godaddy has a fifty-two week low of $56.67 and a fifty-two week high of $84.97. The stock has a market cap of $13.16 billion, a price-to-earnings ratio of 111.78, a price-to-earnings-growth ratio of 5.98 and a beta of 0.63.
Several research firms have issued reports on GDDY. Morgan Stanley set a $95.00 target price on Godaddy and gave the stock a “buy” rating in a research report on Friday, May 3rd. Raymond James dropped their target price on Godaddy from $86.00 to $85.00 and set an “outperform” rating on the stock in a research report on Friday. TheStreet cut Godaddy from a “b” rating to a “c” rating in a research report on Tuesday, May 21st. SunTrust Banks reiterated a “buy” rating and set a $90.00 target price on shares of Godaddy in a research report on Thursday. Finally, Zacks Investment Research upgraded Godaddy from a “hold” rating to a “buy” rating and set a $91.00 target price on the stock in a research report on Tuesday, April 30th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $88.89.
Several institutional investors and hedge funds have recently added to or reduced their stakes in GDDY. FMR LLC grew its holdings in shares of Godaddy by 32.6% in the 1st quarter. FMR LLC now owns 8,332,155 shares of the technology company’s stock worth $626,495,000 after acquiring an additional 2,046,952 shares during the period. Norges Bank acquired a new stake in shares of Godaddy in the 4th quarter worth approximately $110,379,000. BlackRock Inc. grew its holdings in shares of Godaddy by 15.7% in the 1st quarter. BlackRock Inc. now owns 11,596,746 shares of the technology company’s stock worth $871,958,000 after acquiring an additional 1,576,019 shares during the period. Janus Henderson Group PLC grew its holdings in shares of Godaddy by 7.4% in the 1st quarter. Janus Henderson Group PLC now owns 7,932,555 shares of the technology company’s stock worth $596,449,000 after acquiring an additional 546,497 shares during the period. Finally, SQN Investors LP grew its holdings in shares of Godaddy by 71.9% in the 1st quarter. SQN Investors LP now owns 1,009,639 shares of the technology company’s stock worth $75,915,000 after acquiring an additional 422,128 shares during the period. Institutional investors and hedge funds own 97.54% of the company’s stock.
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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