Tempe, Arizona-based GoDaddy Inc. (GDDY) designs and develops cloud-based products for small businesses, web design professionals, and individuals. Valued at $23.5 billion by market cap, the company’s platform provides applications that help them connect to their customers, manage their businesses, and get found online. The leading provider of domain registration, web hosting, and online marketing solutions is expected to announce its fiscal third-quarter earnings for 2024 after the market closes on Wednesday, Oct. 30.

Ahead of the event, analysts expect GDDY to report a profit of $1.25 per share on a diluted basis, up 40.5% from $0.89 per share in the year-ago quarter. The company has consistently surpassed Wall Street’s EPS estimates in its last four quarterly reports. 

For the full year, analysts expect GDDY to report EPS of $5.07, up 80.4% from $2.81 in fiscal 2023. Its EPS is expected to rise 31% year over year to $6.64 in fiscal 2025.

GDDY stock has outperformed the S&P 500’s ($SPX) 38.6% gains over the past 52 weeks, with shares up 120% during this period. Similarly, it outperformed the Technology Select Sector SPDR Fund’s (XLK) 41.5% gains over the same time frame.

On Sep. 23, GDDY shares closed down more than 1% after Piper Sandler downgraded the stock to “Neutral” from “Overweight.”

On Aug. 1, GDDY reported its Q2 results and its shares closed up more than 6% in the following trading session. Its adjusted EPS of $1.10 surpassed Wall Street expectations of $1.07. The company’s revenue was $1.12 billion, topping Wall Street forecasts of $1.11 billion. For Q3, GDDY expects revenue in the range of $1.13 billion to $1.15 billion. It expects full-year revenue to be between $4.53 billion and $4.57 billion.

Analysts’ consensus opinion on GDDY stock is reasonably bullish, with a “Moderate Buy” rating overall. Out of 17 analysts covering the stock, nine advise a “Strong Buy” rating, one suggests a “Moderate Buy” rating, and seven give a “Hold.” GDDY’s average analyst price target is $171.20, indicating a potential upside of 4.5% from the current levels.

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