GoDaddy Inc. (GDDY) Now Covered by Analysts at Cantor Fitzgerald
Equities researchers at Cantor Fitzgerald initiated coverage on shares of GoDaddy Inc. (NYSE:GDDY) in a research report issued on Tuesday. The brokerage set a “buy” rating on the stock.
Several other equities analysts have also issued reports on the company. Piper Jaffray Cos. set a $40.00 price target on GoDaddy and gave the company a “buy” rating in a research note on Monday, September 19th. Zacks Investment Research downgraded GoDaddy from a “hold” rating to a “sell” rating in a report on Thursday, August 4th. Summit Redstone initiated coverage on GoDaddy in a report on Monday, October 3rd. They issued a “buy” rating and a $41.00 price objective for the company. Vetr downgraded GoDaddy from a “strong-buy” rating to a “buy” rating and set a $39.00 price objective for the company. in a report on Thursday, October 6th. Finally, Deutsche Bank AG upped their price objective on GoDaddy from $39.00 to $42.00 and gave the company a “buy” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and fifteen have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $37.83.
Shares of GoDaddy (NYSE:GDDY) traded up 0.82% during midday trading on Tuesday, reaching $35.51. The company’s stock had a trading volume of 481,093 shares. The company’s market cap is $5.41 billion. GoDaddy has a 12 month low of $23.88 and a 12 month high of $36.30. The stock has a 50-day moving average of $33.93 and a 200 day moving average of $31.91.
GoDaddy (NYSE:GDDY) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by $0.04. GoDaddy had a negative net margin of 1.26% and a negative return on equity of 3.30%. The firm had revenue of $456.20 million for the quarter, compared to analyst estimates of $450.51 million. During the same period last year, the company earned ($0.46) EPS. The company’s revenue was up 15.6% compared to the same quarter last year. On average, analysts predict that GoDaddy will post ($0.04) earnings per share for the current fiscal year.
In related news, insider Auguste Goldman sold 1,000 shares of the stock in a transaction dated Friday, August 5th. The stock was sold at an average price of $32.00, for a total transaction of $32,000.00. Following the completion of the transaction, the insider now directly owns 2,339 shares in the company, valued at $74,848. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Scott Wagner sold 8,000 shares of the stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $28.86, for a total value of $230,880.00. Following the transaction, the chief operating officer now owns 9,309 shares of the company’s stock, valued at $268,657.74. The disclosure for this sale can be found here. Corporate insiders own 25.70% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Aperio Group LLC increased its position in GoDaddy by 1.0% in the first quarter. Aperio Group LLC now owns 9,907 shares of the company’s stock worth $320,000 after buying an additional 98 shares during the last quarter. TIAA CREF Investment Management LLC increased its position in GoDaddy by 83.1% in the first quarter. TIAA CREF Investment Management LLC now owns 241,785 shares of the company’s stock worth $7,817,000 after buying an additional 109,760 shares during the last quarter. Franklin Resources Inc. increased its position in GoDaddy by 8.9% in the first quarter. Franklin Resources Inc. now owns 1,078,380 shares of the company’s stock worth $34,864,000 after buying an additional 88,490 shares during the last quarter. BlackRock Inc. boosted its position in shares of GoDaddy by 46.3% in the first quarter. BlackRock Inc. now owns 12,808 shares of the company’s stock valued at $414,000 after buying an additional 4,053 shares during the period. Finally, BlackRock Group LTD boosted its position in shares of GoDaddy by 19.2% in the first quarter. BlackRock Group LTD now owns 282,923 shares of the company’s stock valued at $9,147,000 after buying an additional 45,538 shares during the period.
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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