GoDaddy Inc. (NYSE:GDDY) was upgraded by research analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Saturday.
A number of other analysts also recently issued reports on GDDY. B. Riley reissued a “buy” rating and set a $53.00 price objective on shares of GoDaddy in a research report on Wednesday, August 9th. Oppenheimer Holdings, Inc. raised their price objective on GoDaddy from $47.00 to $50.00 and gave the stock an “outperform” rating in a research report on Thursday, August 10th. Raymond James Financial, Inc. raised their price objective on GoDaddy from $47.00 to $48.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 9th. Stifel Nicolaus set a $41.00 price objective on GoDaddy and gave the stock a “hold” rating in a research report on Wednesday, August 9th. Finally, SunTrust Banks, Inc. assumed coverage on GoDaddy in a research report on Tuesday, August 15th. They set a “buy” rating and a $50.00 price objective for the company. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. GoDaddy presently has a consensus rating of “Buy” and a consensus price target of $47.46.
Shares of GoDaddy (NYSE GDDY) opened at 46.54 on Friday. GoDaddy has a 52 week low of $31.63 and a 52 week high of $46.55. The stock has a market capitalization of $5.18 billion, a price-to-earnings ratio of 366.46 and a beta of 0.62. The stock’s 50 day moving average is $44.19 and its 200-day moving average is $44.19.
GoDaddy (NYSE:GDDY) last issued its quarterly earnings data on Tuesday, August 8th. The technology company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.10. The firm had revenue of $557.80 million during the quarter, compared to the consensus estimate of $551.26 million. GoDaddy had a return on equity of 6.05% and a net margin of 1.21%. The company’s quarterly revenue was up 22.3% on a year-over-year basis. During the same period last year, the company earned ($0.11) EPS. On average, analysts anticipate that GoDaddy will post $0.30 earnings per share for the current fiscal year.
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In other news, EVP Nima Kelly sold 8,112 shares of GoDaddy stock in a transaction dated Wednesday, October 25th. The stock was sold at an average price of $46.00, for a total value of $373,152.00. Following the completion of the transaction, the executive vice president now owns 37,046 shares in the company, valued at approximately $1,704,116. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP James M. Carroll sold 33,600 shares of GoDaddy stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $41.58, for a total value of $1,397,088.00. Following the completion of the transaction, the executive vice president now owns 42,087 shares of the company’s stock, valued at approximately $1,749,977.46. The disclosure for this sale can be found here. Insiders have sold a total of 12,333,060 shares of company stock valued at $538,828,169 over the last 90 days. 22.68% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently made changes to their positions in GDDY. FMR LLC boosted its stake in shares of GoDaddy by 40.9% in the 2nd quarter. FMR LLC now owns 10,839,221 shares of the technology company’s stock valued at $459,800,000 after buying an additional 3,148,349 shares during the period. Vanguard Group Inc. boosted its stake in shares of GoDaddy by 26.8% in the 2nd quarter. Vanguard Group Inc. now owns 7,553,811 shares of the technology company’s stock valued at $320,434,000 after buying an additional 1,598,137 shares during the period. Marshall Wace North America L.P. boosted its stake in shares of GoDaddy by 280.7% in the 2nd quarter. Marshall Wace North America L.P. now owns 2,134,170 shares of the technology company’s stock valued at $89,635,000 after buying an additional 1,573,572 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of GoDaddy by 273.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,241,565 shares of the technology company’s stock valued at $52,668,000 after buying an additional 908,685 shares during the period. Finally, First Trust Advisors LP boosted its stake in shares of GoDaddy by 48.2% in the 3rd quarter. First Trust Advisors LP now owns 2,634,529 shares of the technology company’s stock valued at $114,628,000 after buying an additional 856,259 shares during the period. Institutional investors and hedge funds own 78.75% of the company’s stock.
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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