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GoDaddy Reports Earnings and Dives 5% in After Hours Before Rebounding

Posted on the 02 August 2019 by Worldwide @thedomains

GoDaddy (NYSE:GDDY) reported earnings today, this coincided with the news that CEO Scott Wagner would be stepping down and being replaced by Aman Bhutani, who most recently served as president of Brand Expedia Group.

GoDaddy

The stock was up on the day but took a dive in after hours trading once the earning were reported.

Excluding one-time items, the company posted earnings of 1 cent, below analysts’ estimate of 16 cents, according to IBES data from Refinitiv.

Total revenue rose by 13.1% to $737.2 million, beating analysts’ estimate of $735.4 million.

After closing at $74.23 up 1.16% on the trading day, the stock traded as low as $70 before rebounding back to $74.45.

SmarterAnalyst.com reported that In a report released today, Naved Khan from SunTrust Robinson maintained a Buy rating on GoDaddy (GDDY), with a price target of $90. The company’s shares opened today at $74.23.

I wish Scott Wagner a full recovery and hope he gets through his health issue as best as possible.


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