GoDaddy Inc. (GDDY) Coverage Initiated at Cantor Fitzgerald
Investment analysts at Cantor Fitzgerald initiated coverage on shares of GoDaddy Inc. (NYSE:GDDY) in a research note issued to investors on Tuesday, The Fly reports. The firm set a “buy” rating on the stock.
A number of other research analysts have also weighed in on the company. Deutsche Bank AG increased their price objective on GoDaddy from $39.00 to $42.00 and gave the company a “buy” rating in a report on Tuesday. Vetr lowered GoDaddy from a “strong-buy” rating to a “buy” rating and set a $39.00 price objective on the stock. in a report on Thursday, October 6th. Zacks Investment Research raised GoDaddy from a “hold” rating to a “buy” rating and set a $39.00 target price on the stock in a report on Wednesday, October 5th. Summit Redstone started coverage on GoDaddy in a report on Monday, October 3rd. They set a “buy” rating and a $41.00 target price on the stock. Finally, Piper Jaffray Cos. set a $40.00 target price on GoDaddy and gave the stock a “buy” rating in a report on Monday, September 19th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and fifteen have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $37.83.
Shares of GoDaddy (NYSE:GDDY) traded up 0.82% during mid-day trading on Tuesday, hitting $35.51. The stock had a trading volume of 481,093 shares. The firm has a 50 day moving average of $33.93 and a 200-day moving average of $31.91. The stock’s market cap is $5.41 billion. GoDaddy has a one year low of $23.88 and a one year high of $36.30.
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GoDaddy (NYSE:GDDY) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by $0.04. The firm earned $456.20 million during the quarter, compared to analyst estimates of $450.51 million. GoDaddy had a negative net margin of 1.26% and a negative return on equity of 3.30%. The firm’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same period in the prior year, the company posted ($0.46) earnings per share. Equities research analysts expect that GoDaddy will post ($0.04) earnings per share for the current fiscal year.
In related news, EVP Nima Kelly sold 10,000 shares of GoDaddy stock in a transaction that occurred on Monday, October 10th. The stock was sold at an average price of $36.00, for a total transaction of $360,000.00. Following the transaction, the executive vice president now owns 34,023 shares in the company, valued at $1,224,828. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Auguste Goldman sold 1,000 shares of GoDaddy stock in a transaction that occurred on Friday, August 5th. The stock was sold at an average price of $32.00, for a total value of $32,000.00. Following the transaction, the insider now owns 2,339 shares in the company, valued at approximately $74,848. The disclosure for this sale can be found here. 25.70% of the stock is owned by insiders.
A number of institutional investors have recently made changes to their positions in GDDY. Wellington Management Group LLP increased its position in shares of GoDaddy by 266.8% in the first quarter. Wellington Management Group LLP now owns 776,803 shares of the company’s stock worth $25,114,000 after buying an additional 565,022 shares during the last quarter. RS Investment Management Co. LLC increased its position 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 worth $40,902,000 after buying an additional 215,732 shares during the last quarter. TIAA CREF Investment Management LLC increased its position in shares of 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. DG Capital Management Inc. bought a new position in shares of GoDaddy during the second quarter worth approximately $762,000. Finally, Aperio Group LLC increased 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 last quarter.
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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