GoDaddy Inc. (GDDY) Expected to Announce Quarterly Sales of $593.36 Million

Wall Street analysts expect GoDaddy Inc. (NYSE:GDDY) to report sales of $593.36 million for the current fiscal quarter, Zacks reports. Nine analysts have made estimates for GoDaddy’s earnings, with estimates ranging from $582.20 million to $595.95 million. GoDaddy posted sales of $485.90 million during the same quarter last year, which would indicate a positive year over year growth rate of 22.1%. The company is scheduled to report its next earnings report on Wednesday, February 21st.

On average, analysts expect that GoDaddy will report full year sales of $593.36 million for the current fiscal year, with estimates ranging from $2.22 billion to $2.23 billion. For the next financial year, analysts anticipate that the firm will post sales of $2.54 billion per share, with estimates ranging from $2.53 billion to $2.56 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that follow GoDaddy.

A number of equities analysts have issued reports on GDDY shares. TheStreet upgraded GoDaddy from a “c-” rating to a “b-” rating in a report on Tuesday, November 7th. BidaskClub upgraded GoDaddy from a “hold” rating to a “buy” rating in a report on Saturday, September 2nd. B. Riley restated a “buy” rating and set a $53.00 price target on shares of GoDaddy in a report on Saturday, August 26th. Jefferies Group LLC started coverage on GoDaddy in a report on Thursday, August 24th. They set a “buy” rating and a $55.00 price target on the stock. Finally, SunTrust Banks, Inc. started coverage on GoDaddy in a report on Tuesday, August 15th. They set a “buy” rating and a $50.00 price target on the stock. Four research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $49.38.

In related news, EVP Nima Kelly sold 1,000 shares of the stock in a transaction on Tuesday, August 29th. The stock was sold at an average price of $42.40, for a total value of $42,400.00. Following the transaction, the executive vice president now directly owns 32,744 shares in the company, valued at approximately $1,388,345.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Robert R. Parsons sold 5,817,338 shares of the stock in a transaction on Friday, September 8th. The stock was sold at an average price of $43.71, for a total value of $254,275,843.98. The disclosure for this sale can be found here. Over the last quarter, insiders sold 12,323,036 shares of company stock worth $539,968,706. 22.68% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. Aperio Group LLC lifted its stake in GoDaddy by 5.6% during the 2nd quarter. Aperio Group LLC now owns 6,993 shares of the technology company’s stock valued at $297,000 after acquiring an additional 373 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in GoDaddy by 7.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,476 shares of the technology company’s stock valued at $232,000 after acquiring an additional 397 shares in the last quarter. Symphony Asset Management LLC lifted its stake in GoDaddy by 4.0% during the 2nd quarter. Symphony Asset Management LLC now owns 13,044 shares of the technology company’s stock valued at $553,000 after acquiring an additional 501 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its stake in GoDaddy by 6.7% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 11,620 shares of the technology company’s stock valued at $493,000 after acquiring an additional 728 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado lifted its stake in GoDaddy by 66.8% during the 2nd quarter. Public Employees Retirement Association of Colorado now owns 2,462 shares of the technology company’s stock valued at $104,000 after acquiring an additional 986 shares in the last quarter. Institutional investors own 79.83% of the company’s stock.

GoDaddy (NYSE:GDDY) traded up $0.63 during trading on Friday, hitting $51.06. The company’s stock had a trading volume of 490,645 shares, compared to its average volume of 1,506,749. The company has a market cap of $8,513.23, a PE ratio of 164.71, a price-to-earnings-growth ratio of 9.08 and a beta of 0.64. GoDaddy has a 52-week low of $33.06 and a 52-week high of $51.29. The company has a debt-to-equity ratio of 5.15, a current ratio of 0.57 and a quick ratio of 0.57.

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About GoDaddy

GoDaddy Inc is a technology provider to small businesses, Web design professionals and individuals. The Company delivers cloud-based products and personalized customer care. It operates a domain marketplace, where its customers can find the digital real estate that matches their idea. It provides Website building, hosting and security tools to help customers construct and protect online presence.

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