In its upcoming report, GoDaddy (GDDY) is predicted by Wall Street analysts to post quarterly earnings of $1.35 per share, reflecting an increase of 25% compared to the same period last year. Revenues are forecasted to be $1.19 billion, representing a year-over-year increase of 7.1%.
The current level reflects a downward revision of 2% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.
Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
With that in mind, let's delve into the average projections of some GoDaddy metrics that are commonly tracked and projected by analysts on Wall Street.
Analysts forecast 'Revenue- Applications & commerce' to reach $441.26 million. The estimate points to a change of +15.2% from the year-ago quarter.
Analysts expect 'Revenue- Core platform' to come in at $745.99 million. The estimate points to a change of +2.8% from the year-ago quarter.
According to the collective judgment of analysts, 'Total bookings' should come in at $1.40 billion. The estimate is in contrast to the year-ago figure of $1.31 billion.
The consensus estimate for 'Total customers at period end' stands at 20.74 million. The estimate compares to the year-ago value of 21 million.
The average prediction of analysts places 'Segment EBITDA- Applications & Commerce' at $185.34 million. Compared to the current estimate, the company reported $161.90 million in the same quarter of the previous year.
Based on the collective assessment of analysts, 'Segment EBITDA- Core Platform' should arrive at $233.35 million. Compared to the present estimate, the company reported $216.70 million in the same quarter last year.
View all Key Company Metrics for GoDaddy here>>>
Shares of GoDaddy have demonstrated returns of +4.3% over the past month compared to the Zacks S&P 500 composite's -0.2% change. With a Zacks Rank #4 (Sell), GDDY is expected to lag the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
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GoDaddy Inc. (GDDY): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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