Domain registrar and web services company, GoDaddy (NYSE:GDDY) will be announcing earnings results tomorrow afternoon. Here's what investors should know.
Last quarter GoDaddy reported revenues of $1.05 billion, up 3.21% year on year, missing analyst expectations by 0.61%. It was a weak quarter for the company, with underwhelming revenue guidance for the next quarter and a miss of analysts' revenue estimates.
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 3.06% year on year to $1.06 billion, slowing down from the 7.18% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.97 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 Q3 earnings results, giving us a hint of what we can expect. VeriSign (NASDAQ:VRSN) delivered top-line growth of 5.44% year on year, missing analyst estimates by 0.75%, and ZoomInfo reported revenues up 9.11% year on year, exceeding estimates by 1.06%. VeriSign traded flat on the results, and ZoomInfo was up 1.5%.
Read the full analysis of VeriSign's and ZoomInfo's results on StockStory.
Tech stocks have had a rocky start since 2022, and while some of the sales and marketing software stocks have fared somewhat better, they have not been spared, with share price declining 4.45% over the last month. GoDaddy is down 1.23% during the same time, and is heading into the earnings with analyst price target of $90, compared to share price of $72.79.
The author has no position in any of the stocks mentioned.
