Godaddy Inc (NYSE:GDDY) Given Consensus Rating of “Buy” by Analysts

Shares of Godaddy Inc (NYSE:GDDY) have earned a consensus recommendation of “Buy” from the eleven ratings firms that are currently covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $89.38.

Several analysts recently issued reports on GDDY shares. ValuEngine upgraded Godaddy from a “sell” rating to a “hold” rating in a report on Friday, November 29th. TheStreet upgraded Godaddy from a “c+” rating to a “b-” rating in a research note on Monday, November 18th. Wedbush reaffirmed a “neutral” rating on shares of Godaddy in a research report on Monday, November 4th. Finally, SunTrust Banks reaffirmed a “buy” rating and set a $90.00 price target on shares of Godaddy in a research note on Friday, November 1st.

Godaddy stock opened at $67.65 on Friday. Godaddy has a twelve month low of $58.19 and a twelve month high of $82.30. The company has a debt-to-equity ratio of 3.78, a quick ratio of 0.75 and a current ratio of 0.75. The firm has a market cap of $11.52 billion, a PE ratio of 107.38, a P/E/G ratio of 6.03 and a beta of 0.67. The firm’s 50 day moving average price is $66.46 and its two-hundred day moving average price is $68.13.

Godaddy (NYSE:GDDY) last issued its earnings results on Wednesday, November 6th. The technology company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.20. Godaddy had a net margin of 4.10% and a return on equity of 19.05%. The company had revenue of $760.50 million during the quarter, compared to analyst estimates of $761.04 million. During the same quarter last year, the business posted $0.08 EPS. The company’s revenue for the quarter was up 11.9% on a year-over-year basis. Equities analysts anticipate that Godaddy will post 0.79 EPS for the current fiscal year.

In other Godaddy news, COO Ah Kee Andrew Low sold 387 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $72.00, for a total transaction of $27,864.00. Following the transaction, the chief operating officer now directly owns 101,723 shares in the company, valued at $7,324,056. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Nima Kelly sold 576 shares of the firm’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $66.82, for a total value of $38,488.32. Following the transaction, the insider now owns 126,226 shares in the company, valued at $8,434,421.32. The disclosure for this sale can be found here. Insiders sold 26,144 shares of company stock valued at $1,811,802 over the last quarter. 12.64% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. grew its stake in Godaddy by 23.7% in the 2nd quarter. BlackRock Inc. now owns 14,344,269 shares of the technology company’s stock valued at $1,006,251,000 after buying an additional 2,747,523 shares during the last quarter. Nuveen Asset Management LLC lifted its position in shares of Godaddy by 3,070.3% during the 2nd quarter. Nuveen Asset Management LLC now owns 2,805,367 shares of the technology company’s stock worth $196,797,000 after purchasing an additional 2,716,877 shares during the last quarter. Marshall Wace LLP lifted its position in shares of Godaddy by 1,989.7% during the 2nd quarter. Marshall Wace LLP now owns 1,878,596 shares of the technology company’s stock worth $131,784,000 after purchasing an additional 1,788,699 shares during the last quarter. Eminence Capital LP acquired a new position in shares of Godaddy during the 2nd quarter worth about $103,895,000. Finally, Waddell & Reed Financial Inc. bought a new stake in Godaddy during the 2nd quarter valued at approximately $61,997,000. 97.39% of the stock is currently owned by institutional investors and hedge funds.

Godaddy Company Profile

GoDaddy Inc designs and develops cloud-based technology products for small businesses, Web design professionals, and individuals in the United States and internationally. The company provides domain name registration product that enables to engage customers at the initial stage of establishing a digital identity; and hosting products, including shared Website hosting, Website hosting on virtual private servers and virtual dedicated servers, managed hosting, and security.

Read More: Understanding each part of a balance sheet

Analyst Recommendations for Godaddy (NYSE:GDDY)

Receive News & Ratings for Godaddy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Godaddy and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit