Domain registrar and web services company GoDaddy (NYSE: GDDY) will be announcing earnings results tomorrow after the bell. Here’s what to expect.
GoDaddy beat analysts’ revenue expectations by 1.4% last quarter, reporting revenues of $1.19 billion, up 8.4% year on year. It was a satisfactory quarter for the company, with a solid beat of analysts’ EBITDA 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 7.1% year on year to $1.19 billion, in line with the 7% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.80 per share.
Analysts covering the company have generally 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 three times over the last two years.
Looking at GoDaddy’s peers in the sales and marketing software segment, some have already reported their Q1 results, giving us a hint as to what we can expect. VeriSign delivered year-on-year revenue growth of 4.7%, meeting analysts’ expectations, and Freshworks reported revenues up 18.9%, topping estimates by 2.1%. VeriSign traded up 8% following the results.
Read our full analysis of VeriSign’s results here and Freshworks’s results here.
Investors in the sales and marketing software segment have had steady hands going into earnings, with share prices flat over the last month. GoDaddy is up 4.3% during the same time and is heading into earnings with an average analyst price target of $211.86 (compared to the current share price of $188.50).
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