GoDaddy Inc. (NYSE:GDDY) was downgraded by equities research analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a note issued to investors on Tuesday, July 11th.
Several other research firms also recently weighed in on GDDY. B. Riley reissued a “buy” rating and issued a $45.00 target price on shares of GoDaddy in a research report on Sunday, April 16th. Cantor Fitzgerald reissued a “hold” rating on shares of GoDaddy in a research report on Monday, June 26th. Stifel Nicolaus set a $41.00 target price on shares of GoDaddy and gave the stock a “hold” rating in a research report on Friday, June 23rd. Oppenheimer Holdings, Inc. lifted their target price on shares of GoDaddy from $44.00 to $47.00 and gave the stock an “outperform” rating in a research report on Thursday, June 22nd. Finally, Zacks Investment Research downgraded shares of GoDaddy from a “hold” rating to a “sell” rating in a research report on Thursday, July 6th. One analyst has rated the stock with a sell rating, five have issued a hold rating and ten have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $44.85.
GoDaddy (GDDY) opened at 41.56 on Tuesday. The company has a 50-day moving average price of $42.74 and a 200 day moving average price of $39.41. GoDaddy has a 52 week low of $31.59 and a 52 week high of $45.26. The company has a market cap of $4.60 billion, a PE ratio of 327.24 and a beta of 0.65.
GoDaddy (NYSE:GDDY) last released its earnings results on Tuesday, August 8th. The technology company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.10. GoDaddy had a net margin of 1.21% and a return on equity of 5.58%. The business had revenue of $557.80 million for the quarter, compared to the consensus estimate of $551.26 million. During the same period in the previous year, the firm earned ($0.11) EPS. The business’s revenue for the quarter was up 22.3% on a year-over-year basis. On average, equities research analysts forecast that GoDaddy will post $0.21 EPS for the current fiscal year.
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In other news, CEO Blake Irving sold 37,500 shares of the business’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $42.47, for a total value of $1,592,625.00. Following the completion of the sale, the chief executive officer now directly owns 40,606 shares in the company, valued at $1,724,536.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Auguste Goldman sold 1,000 shares of the business’s stock in a transaction on Monday, May 15th. The stock was sold at an average price of $38.98, for a total transaction of $38,980.00. Following the completion of the sale, the insider now owns 6,491 shares of the company’s stock, valued at $253,019.18. The disclosure for this sale can be found here. Insiders sold 706,456 shares of company stock valued at $29,729,339 over the last three months. Insiders own 25.70% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN boosted its position in GoDaddy by 45.6% in the first quarter. Wells Fargo & Company MN now owns 51,901 shares of the technology company’s stock valued at $1,967,000 after buying an additional 16,243 shares during the last quarter. Russell Investments Group Ltd. boosted its position in GoDaddy by 1.6% in the first quarter. Russell Investments Group Ltd. now owns 45,625 shares of the technology company’s stock valued at $1,728,000 after buying an additional 708 shares during the last quarter. Acadian Asset Management LLC bought a new position in GoDaddy during the first quarter valued at approximately $2,118,000. Profund Advisors LLC boosted its position in GoDaddy by 14.4% in the first quarter. Profund Advisors LLC now owns 25,770 shares of the technology company’s stock valued at $977,000 after buying an additional 3,250 shares during the last quarter. Finally, Highbridge Capital Management LLC bought a new position in GoDaddy during the fourth quarter valued at approximately $223,000.
GoDaddy Company Profile
GoDaddy Inc is a technology provider to small businesses, Web design professionals and individuals. The Company delivers cloud-based products and personalized customer care. It operates a domain marketplace, where its customers can find the digital real estate that matches their idea. It provides Website building, hosting and security tools to help customers construct and protect online presence.
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