Domain registrar and web services company, GoDaddy (NYSE:GDDY) will be reporting results tomorrow after the bell. Here's what to expect.
Last quarter GoDaddy reported revenues of $1.07 billion, up 3.5% year on year, in line with analyst expectations. It was a mixed quarter for the company, with underwhelming revenue guidance for the next quarter. Growth is slow these days, but at least Godaddy delivered strong free cash flow.
Is GoDaddy buy or sell heading into the earnings? Find out by reading the original article on StockStory.
This quarter analysts are expecting GoDaddy's revenue to grow 6% year on year to $1.10 billion, improving on the 2% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.25 per share.
Majority of analysts covering the company have reconfirmed their estimates over the last thirty days, suggesting they are expecting the business to stay the course heading into the earnings. The company missed Wall St's revenue estimates five times over the last two years.
Looking at GoDaddy's peers in the sales and marketing software segment, some of them have already reported Q4 earnings results, giving us a hint what we can expect. VeriSign (NASDAQ:VRSN) delivered top-line growth of 3% year on year, beating analyst estimates by 0.7% and LiveRamp reported revenues up 9.6% year on year, exceeding estimates by 1.2%. VeriSign traded flat on the results, LiveRamp was down 2.3%.
Read the full analysis of VeriSign's and LiveRamp's results on StockStory.
There has been positive sentiment among investors in the sales and marketing software segment, with the stocks up on average 8.2% over the last month. GoDaddy is up 7.6% during the same time, and is heading into the earnings with analyst price target of $113.6, compared to share price of $112.8.