GoDaddy Inc. (GDDY) Receives Consensus Rating of “Buy” from Analysts
Shares of GoDaddy Inc. (NYSE:GDDY) have been given an average rating of “Buy” by the seventeen ratings firms that are presently covering the firm. One analyst has rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $40.25.
GDDY has been the topic of several recent research reports. Monness Crespi & Hardt downgraded GoDaddy from a “buy” rating to a “neutral” rating in a report on Tuesday, November 1st. They noted that the move was a valuation call. Piper Jaffray Cos. reissued an “overweight” rating and issued a $50.00 price target (up previously from $40.00) on shares of GoDaddy in a report on Monday, October 24th. Vetr downgraded GoDaddy from a “strong-buy” rating to a “buy” rating and set a $39.00 price target on the stock. in a report on Thursday, October 6th. Zacks Investment Research upgraded GoDaddy from a “hold” rating to a “buy” rating and set a $39.00 target price on the stock in a research report on Wednesday, October 5th. Finally, Deutsche Bank AG raised their target price on GoDaddy from $39.00 to $42.00 and gave the company a “buy” rating in a research report on Tuesday, October 18th.
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In other news, EVP James M. Carroll sold 57,000 shares of the firm’s stock in a transaction on Friday, November 4th. The stock was sold at an average price of $32.19, for a total transaction of $1,834,830.00. Following the completion of the sale, the executive vice president now directly owns 33,863 shares of the company’s stock, valued at approximately $1,090,049.97. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Auguste Goldman sold 1,000 shares of the firm’s stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $32.47, for a total value of $32,470.00. Following the sale, the insider now directly owns 2,586 shares of the company’s stock, valued at $83,967.42. The disclosure for this sale can be found here. Insiders own 25.70% of the company’s stock.
Several large investors have recently added to or reduced their stakes in GDDY. RS Investment Management Co. LLC boosted its stake in shares of GoDaddy by 19.7% in the second quarter. RS Investment Management Co. LLC now owns 1,311,389 shares of the company’s stock valued at $40,902,000 after buying an additional 215,732 shares during the period. Principal Financial Group Inc. boosted its stake in shares of GoDaddy by 272.6% in the second quarter. Principal Financial Group Inc. now owns 402,723 shares of the company’s stock valued at $12,561,000 after buying an additional 294,633 shares during the period. DG Capital Management Inc. acquired a new stake in shares of GoDaddy during the second quarter valued at approximately $762,000. Bank of New York Mellon Corp boosted its stake in shares of GoDaddy by 31.8% in the second quarter. Bank of New York Mellon Corp now owns 165,337 shares of the company’s stock valued at $5,157,000 after buying an additional 39,890 shares during the period. Finally, Emerald Acquisition Ltd. acquired a new stake in shares of GoDaddy during the second quarter valued at approximately $1,829,000.
Shares of GoDaddy (NYSE:GDDY) traded down 0.95% during mid-day trading on Monday, hitting $36.47. The stock had a trading volume of 499,024 shares. The firm’s market cap is $3.19 billion. GoDaddy has a 12-month low of $23.88 and a 12-month high of $37.21. The company has a 50 day moving average price of $34.99 and a 200 day moving average price of $32.71.
GoDaddy (NYSE:GDDY) last announced its quarterly earnings results on Wednesday, November 2nd. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.02. The business had revenue of $472.10 million for the quarter, compared to the consensus estimate of $470.07 million. GoDaddy had a negative return on equity of 2.14% and a negative net margin of 0.81%. The business’s revenue was up 14.8% on a year-over-year basis. During the same quarter last year, the business posted ($0.04) EPS. Equities analysts forecast that GoDaddy will post ($0.04) earnings per share for the current fiscal year.
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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