GoDaddy Inc. (GDDY) Stock Rating Upgraded by Zacks Investment Research
GoDaddy Inc. (NYSE:GDDY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday. The firm currently has a $39.00 target price on the stock. Zacks Investment Research’s price objective suggests a potential upside of 9.92% from the company’s previous close.
According to Zacks, “GoDaddy, Inc. is engaged in the designing and development of cloud-based technology products for small businesses, Web design professionals and individuals. The Company’s products include domain, hosting and presence and business applications. GoDaddy, Inc. is headquartered in Scottsdale, Arizona. “
A number of other equities analysts also recently commented on the stock. Summit Redstone assumed coverage on shares of GoDaddy in a research note on Monday, October 3rd. They set a “buy” rating and a $41.00 target price for the company. Piper Jaffray Cos. set a $40.00 target price on shares of GoDaddy and gave the stock a “buy” rating in a research note on Monday, September 19th. B. Riley reiterated a “neutral” rating and set a $33.50 target price on shares of GoDaddy in a research note on Tuesday, August 9th. Deutsche Bank AG upped their price objective on shares of GoDaddy from $36.00 to $39.00 and gave the company a “buy” rating in a research note on Thursday, August 4th. Finally, RBC Capital Markets restated an “outperform” rating and issued a $38.00 price objective (up previously from $37.00) on shares of GoDaddy in a research note on Thursday, August 4th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and fourteen have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $37.63.
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Shares of GoDaddy (NYSE:GDDY) traded up 1.08% during mid-day trading on Wednesday, reaching $35.48. 1,610,826 shares of the company were exchanged. The stock’s market capitalization is $5.40 billion. The stock has a 50 day moving average price of $33.41 and a 200-day moving average price of $31.74. GoDaddy has a 12 month low of $23.88 and a 12 month high of $35.70.
GoDaddy (NYSE:GDDY) last issued its earnings results on Wednesday, August 3rd. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by $0.04. The firm had revenue of $456.20 million for the quarter, compared to analyst estimates of $450.51 million. GoDaddy had a negative return on equity of 3.30% and a negative net margin of 1.26%. The business’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.46) EPS. Analysts predict that GoDaddy will post ($0.04) earnings per share for the current year.
In other GoDaddy news, Director Betsy Rafael sold 10,383 shares of the stock in a transaction dated Friday, August 5th. The shares were sold at an average price of $33.10, for a total value of $343,677.30. Following the completion of the transaction, the director now directly owns 17,238 shares of the company’s stock, valued at $570,577.80. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO Scott Wagner sold 8,000 shares of the stock in a transaction dated Wednesday, October 5th. The shares were sold at an average price of $34.62, for a total transaction of $276,960.00. Following the completion of the transaction, the chief operating officer now directly owns 9,503 shares of the company’s stock, valued at $328,993.86. The disclosure for this sale can be found here. Corporate insiders own 25.70% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of GDDY. Aperio Group LLC boosted its position in shares of 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 period. UBS Group AG boosted its position in shares of GoDaddy by 0.6% in the first quarter. UBS Group AG now owns 22,573 shares of the company’s stock worth $729,000 after buying an additional 140 shares during the period. Mackenzie Financial Corp boosted its position in shares of GoDaddy by 0.7% in the second quarter. Mackenzie Financial Corp now owns 28,600 shares of the company’s stock worth $892,000 after buying an additional 200 shares during the period. Independent Portfolio Consultants Inc. boosted its position in shares of GoDaddy by 12.0% in the second quarter. Independent Portfolio Consultants Inc. now owns 3,965 shares of the company’s stock worth $124,000 after buying an additional 425 shares during the period. Finally, Penn Capital Management Co. Inc. boosted its position in shares of GoDaddy by 0.3% in the second quarter. Penn Capital Management Co. Inc. now owns 254,048 shares of the company’s stock worth $7,964,000 after buying an additional 665 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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