GoDaddy Inc. (GDDY) Given Consensus Rating of “Buy” by Brokerages
GoDaddy Inc. (NYSE:GDDY) has been assigned a consensus recommendation of “Buy” from the eighteen analysts that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and thirteen have given a buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $46.92.
GDDY has been the subject of a number of research reports. B. Riley reaffirmed a “buy” rating and set a $53.00 target price on shares of GoDaddy in a report on Wednesday, August 9th. Oppenheimer Holdings, Inc. upped their target price on GoDaddy from $47.00 to $50.00 and gave the company an “outperform” rating in a research report on Thursday, August 10th. Raymond James Financial, Inc. increased their price target on shares of GoDaddy from $47.00 to $48.00 and gave the stock an “outperform” rating in a report on Wednesday, August 9th. Stifel Nicolaus set a $41.00 price target on shares of GoDaddy and gave the stock a “hold” rating in a report on Wednesday, August 9th. Finally, SunTrust Banks, Inc. initiated coverage on shares of GoDaddy in a research report on Tuesday, August 15th. They set a “buy” rating and a $50.00 price target for the company.
Shares of GoDaddy (NYSE GDDY) traded down 0.16% during mid-day trading on Wednesday, hitting $43.44. The company had a trading volume of 1,259,425 shares. GoDaddy has a 1-year low of $31.63 and a 1-year high of $45.37. The company has a market capitalization of $4.83 billion, a price-to-earnings ratio of 342.05 and a beta of 0.62. The company has a 50-day moving average price of $43.89 and a 200-day moving average price of $43.89.
GoDaddy (NYSE:GDDY) last issued its quarterly earnings results on Tuesday, August 8th. The technology company reported $0.13 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.10. The business had revenue of $557.80 million for the quarter, compared to analyst estimates of $551.26 million. GoDaddy had a net margin of 1.21% and a return on equity of 6.05%. GoDaddy’s revenue for the quarter was up 22.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.11) EPS. On average, equities analysts anticipate that GoDaddy will post $0.33 EPS for the current year.
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In other GoDaddy news, Director Robert R. Parsons sold 5,817,338 shares of the firm’s stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $43.71, for a total value of $254,275,843.98. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP James M. Carroll sold 33,600 shares of the firm’s stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 42,087 shares in the company, valued at $1,749,977.46. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,322,948 shares of company stock worth $538,117,592. 22.68% of the stock is owned by company insiders.
Hedge funds have recently made changes to their positions in the company. Public Employees Retirement Association of Colorado lifted its position in shares of GoDaddy by 66.8% during the 2nd quarter. Public Employees Retirement Association of Colorado now owns 2,462 shares of the technology company’s stock valued at $104,000 after buying an additional 986 shares in the last quarter. BNP Paribas Arbitrage SA grew its stake in GoDaddy by 215.1% in the 1st quarter. BNP Paribas Arbitrage SA now owns 2,770 shares of the technology company’s stock valued at $105,000 after acquiring an additional 1,891 shares during the period. Parallel Advisors LLC grew its stake in GoDaddy by 10.1% in the 1st quarter. Parallel Advisors LLC now owns 2,721 shares of the technology company’s stock valued at $105,000 after acquiring an additional 250 shares during the period. SG Americas Securities LLC acquired a new stake in GoDaddy in the 2nd quarter valued at $118,000. Finally, Sei Investments Co. grew its stake in GoDaddy by 160.4% in the 2nd quarter. Sei Investments Co. now owns 3,706 shares of the technology company’s stock valued at $158,000 after acquiring an additional 2,283 shares during the period. 77.95% of the stock is owned by institutional investors and hedge funds.
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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