GoDaddy Inc. (NYSE: GDDY) stock fell -0.24% on Thursday to $71.64 against a previous-day closing price of $71.81. With 1.17 million shares changed hands, the volume of the stock remained heavier than its average volume of 1.11 million shares. During the session, the Software – Infrastructure company that operates in wider Technology sector, reached to the highest price of $72.53 whereas the lowest price it dropped to was $71.60. The 52-week range on GDDY shows that it touched its highest point at $85.32 and its lowest point at $64.65 during that stretch. It currently has a 1-year price target of $92.99. Beta for the stock currently stands at 0.98.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of GDDY was down-trending over the past week, with a drop of -1.10%, but this was down by -5.07% over a month. Three-month performance dropped to -5.24% while six-month performance fell -3.41%. The stock gained 3.84% in the past year, while it has lost -4.25% so far this year. A look at the trailing 12-month EPS for GDDY yields 2.08 with Next year EPS estimates of 3.55. For the next quarter, that number is 0.57. This implies an EPS growth rate of 54.00% for this year and 46.41% for next year. EPS is expected to grow by 18.70% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 27.60%.
Float and Shares Shorts:
At present, 154.12 million GDDY shares are outstanding with a float of 152.29 million shares on hand for trading. On May 14, 2023, short shares totaled 2.36 million, which was 1.53% higher than short shares on Apr 13, 2023. In addition to Mr. Amanpal Singh Bhutani as the firm’s CEO & Director, Mr. Mark McCaffrey serves as its Chief Financial Officer.
Through their ownership of 98.24% of GDDY’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 52.93% of GDDY, in contrast to 5.97% held by mutual funds. Shares owned by individuals account for 44.55%. As the largest shareholder in GDDY with 10.10% of the stake, Wellington Management Co. LLP holds 15,508,470 shares worth 15,508,470. A second-largest stockholder of GDDY, The Vanguard Group, Inc., holds 14,627,965 shares, controlling over 9.53% of the firm’s shares. Capital Research & Management Co is the third largest shareholder in GDDY, holding 13,662,609 shares or 8.90% stake. With a 5.14% stake in GDDY, the American Funds New Perspective Fu is the largest stakeholder. A total of 7,886,320 shares are owned by the mutual fund manager. The Janus Henderson Enterprise Fund, which owns about 3.76% of GDDY stock, is the second-largest Mutual Fund holder. It holds 5,769,561 shares valued at 436.64 million. Vanguard Total Stock Market ETF holds 3.10% of the stake in GDDY, owning 4,759,283 shares worth 360.18 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, GDDY reported revenue of $1.02B and operating income of $134.20M. The EBITDA in the recently reported quarter was $181.40M and diluted EPS was $0.56.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for GDDY since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With GDDY analysts setting a high price target of $103.00 and a low target of $73.00, the average target price over the next 12 months is $89.42. Based on these targets, GDDY could surge 43.77% to reach the target high and rise by 1.9% to reach the target low. Reaching the average price target will result in a growth of 24.82% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded GDDY stock several times over the past three months with 0 Buys and 9 Sells. In these transactions, 0 shares were bought while 21,211 shares were sold. The number of buy transactions has increased to 21 while that of sell transactions has risen to 34 over the past year. The total number of shares bought during that period was 207,307 while 64,773 shares were sold.