Domain registrar and web services company GoDaddy (NYSE:GDDY) will be announcing earnings results tomorrow after the bell. Here’s what to expect.
GoDaddy met analysts’ revenue expectations last quarter, reporting revenues of $1.12 billion, up 7.3% year on year. It was a strong quarter for the company, with a solid beat of analysts’ EBITDA estimates and a decent beat of analysts’ bookings estimates.
Is GoDaddy a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting GoDaddy’s revenue to grow 6.9% year on year to $1.14 billion, improving from the 3.5% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.40 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. GoDaddy has missed Wall Street’s revenue estimates five times over the last two years.
Looking at GoDaddy’s peers in the sales and marketing software segment, only VeriSign has reported results so far. It met analysts’ revenue estimates, delivering year-on-year sales growth of 3.8%. The stock was down 2.1% on the results.
Read our full analysis of VeriSign’s earnings results here.There has been positive sentiment among investors in the sales and marketing software segment, with share prices up 3.6% on average over the last month. GoDaddy is up 2% during the same time and is heading into earnings with an average analyst price target of $170.54 (compared to the current share price of $159.90).
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