GoDaddy Inc. (GDDY) Earns Outperform Rating from Analysts at William Blair
William Blair began coverage on shares of GoDaddy Inc. (NYSE:GDDY) in a research note published on Thursday, Marketbeat Ratings reports. The firm issued an outperform rating on the technology company’s stock.
A number of other equities analysts have also commented on GDDY. BidaskClub raised shares of GoDaddy from a buy rating to a strong-buy rating in a report on Saturday, June 10th. Oppenheimer Holdings, Inc. lifted their price objective on shares of GoDaddy from $44.00 to $47.00 and gave the company an outperform rating in a report on Thursday, June 22nd. Stifel Nicolaus set a $41.00 price objective on shares of GoDaddy and gave the company a hold rating in a report on Friday, June 23rd. Cantor Fitzgerald reissued a hold rating on shares of GoDaddy in a report on Monday, June 26th. Finally, Zacks Investment Research lowered shares of GoDaddy from a hold rating to a sell rating in a report on Thursday, July 6th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus price target of $47.46.
Shares of GoDaddy (NYSE GDDY) traded up 1.40% during midday trading on Thursday, reaching $44.22. The company had a trading volume of 816,923 shares. GoDaddy has a 12-month low of $31.63 and a 12-month high of $45.37. The stock’s 50 day moving average is $43.85 and its 200-day moving average is $43.85. The stock has a market capitalization of $4.92 billion, a PE ratio of 348.19 and a beta of 0.62.
GoDaddy (NYSE:GDDY) last announced its quarterly earnings data on Tuesday, August 8th. The technology company reported $0.13 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.10. The business had revenue of $557.80 million during the quarter, compared to the consensus estimate of $551.26 million. GoDaddy had a net margin of 1.21% and a return on equity of 6.05%. The firm’s quarterly revenue was up 22.3% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.11) earnings per share. On average, equities research analysts predict that GoDaddy will post $0.30 earnings per share for the current fiscal year.
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In related news, insider Barbara J. Rechterman sold 35,000 shares of the business’s stock in a transaction on Wednesday, July 12th. The shares were sold at an average price of $42.42, for a total transaction of $1,484,700.00. Following the completion of the transaction, the insider now directly owns 54,741 shares in the company, valued at $2,322,113.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert R. Parsons sold 5,817,338 shares of the business’s stock in a transaction on Friday, September 8th. The shares were sold at an average price of $43.71, for a total transaction of $254,275,843.98. The disclosure for this sale can be found here. Insiders have sold 12,341,448 shares of company stock valued at $538,948,902 over the last quarter. Insiders own 22.68% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in GDDY. Russell Investments Group Ltd. increased its holdings in GoDaddy by 1.6% in the first quarter. Russell Investments Group Ltd. now owns 45,625 shares of the technology company’s stock valued at $1,728,000 after buying an additional 708 shares in the last quarter. Wells Fargo & Company MN increased its holdings in GoDaddy by 45.6% in the first quarter. Wells Fargo & Company MN now owns 51,901 shares of the technology company’s stock valued at $1,967,000 after buying an additional 16,243 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in GoDaddy by 0.9% in the first quarter. Bank of New York Mellon Corp now owns 163,361 shares of the technology company’s stock valued at $6,192,000 after buying an additional 1,524 shares in the last quarter. BNP Paribas Arbitrage SA increased its holdings in GoDaddy by 215.1% in the first quarter. BNP Paribas Arbitrage SA now owns 2,770 shares of the technology company’s stock valued at $105,000 after buying an additional 1,891 shares in the last quarter. Finally, Swiss National Bank increased its holdings in GoDaddy by 4.0% in the first quarter. Swiss National Bank now owns 86,500 shares of the technology company’s stock valued at $3,278,000 after buying an additional 3,300 shares in the last quarter. 77.95% of the stock is owned by institutional investors.
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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