GoDaddy Inc. (GDDY) Downgraded to “Buy” at Vetr Inc.
Vetr lowered shares of GoDaddy Inc. (NYSE:GDDY) from a strong-buy rating to a buy rating in a research note published on Thursday. They currently have $39.00 price target on the stock.
Several other brokerages have also weighed in on GDDY. Zacks Investment Research lowered GoDaddy from a hold rating to a sell rating in a research report on Thursday, August 4th. Deutsche Bank AG upped their price target on GoDaddy from $36.00 to $39.00 and gave the stock a buy rating in a research note on Thursday, August 4th. Piper Jaffray Cos. reiterated a buy rating and set a $38.00 price target on shares of GoDaddy in a research note on Monday, July 18th. Raymond James Financial Inc. began coverage on GoDaddy in a research note on Tuesday, June 14th. They set an outperform rating and a $37.00 price target for the company. Finally, Royal Bank Of Canada upped their price target on GoDaddy from $37.00 to $38.00 and gave the stock an outperform rating in a research note on Thursday, August 4th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and fourteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average target price of $37.63.
GoDaddy (NYSE:GDDY) traded up 0.28% during midday trading on Thursday, reaching $35.20. The company’s stock had a trading volume of 794,917 shares. The stock has a 50 day moving average of $33.31 and a 200 day moving average of $31.72. GoDaddy has a 52 week low of $23.88 and a 52 week high of $35.70. The firm’s market capitalization is $5.36 billion.
GoDaddy (NYSE:GDDY) last issued its earnings results on Wednesday, August 3rd. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.07) by $0.04. GoDaddy had a negative return on equity of 3.30% and a negative net margin of 1.26%. The firm earned $456.20 million during the quarter, compared to analyst estimates of $450.51 million. During the same period in the previous year, the company earned ($0.46) earnings per share. The business’s revenue for the quarter was up 15.6% on a year-over-year basis. On average, equities research analysts predict that GoDaddy will post ($0.04) earnings per share for the current fiscal year.
In other news, insider Barbara J. Rechterman sold 39,000 shares of the firm’s stock in a transaction on Wednesday, October 5th. The stock was sold at an average price of $34.59, for a total value of $1,349,010.00. Following the transaction, the insider now directly owns 69,650 shares in the company, valued at approximately $2,409,193.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Scott Wagner sold 8,000 shares of the firm’s stock in a transaction on Wednesday, July 20th. The stock was sold at an average price of $29.42, for a total value of $235,360.00. Following the completion of the transaction, the chief financial officer now owns 9,250 shares in the company, valued at $272,135. The disclosure for this sale can be found here. 25.70% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Acrospire Investment Management LLC raised its position in GoDaddy by 1,066.7% in the second quarter. Acrospire Investment Management LLC now owns 3,500 shares of the company’s stock valued at $109,000 after buying an additional 3,200 shares in the last quarter. Metropolitan Life Insurance Co. NY raised its position in GoDaddy by 97.9% in the second quarter. Metropolitan Life Insurance Co. NY now owns 3,501 shares of the company’s stock valued at $109,000 after buying an additional 1,732 shares in the last quarter. Advisor Group Inc. bought a new position in GoDaddy during the second quarter valued at about $113,000. Independent Portfolio Consultants Inc. raised its position in GoDaddy by 12.0% in the second quarter. Independent Portfolio Consultants Inc. now owns 3,965 shares of the company’s stock valued at $124,000 after buying an additional 425 shares in the last quarter. Finally, Legal & General Group Plc raised its position in GoDaddy by 8,301.9% in the second quarter. Legal & General Group Plc now owns 4,537 shares of the company’s stock valued at $141,000 after buying an additional 4,483 shares in the last quarter.
GoDaddy Inc is a technology provider to small businesses, Web design professionals and individuals. The Company delivers cloud-based products and personalized customer care. The Company 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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