GoDaddy Inc. (GDDY) PT Raised to $42.00
GoDaddy Inc. (NYSE:GDDY) had its target price upped by equities research analysts at Deutsche Bank AG from $39.00 to $42.00 in a report issued on Tuesday. The firm presently has a “buy” rating on the stock. Deutsche Bank AG’s target price would indicate a potential upside of 19.25% from the company’s previous close.
A number of other analysts have also issued reports on GDDY. B. Riley reiterated a “neutral” rating and set a $33.50 price target on shares of GoDaddy in a research note on Thursday, August 4th. RBC Capital Markets reiterated an “outperform” rating and set a $38.00 price target (up from $37.00) on shares of GoDaddy in a research note on Thursday, August 4th. Royal Bank Of Canada boosted their price target on shares of GoDaddy from $37.00 to $38.00 and gave the stock an “outperform” rating in a research note on Thursday, August 4th. Vetr lowered shares of GoDaddy from a “strong-buy” rating to a “buy” rating and set a $39.00 price target on the stock. in a research note on Thursday, October 6th. Finally, 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 on the stock. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and fourteen have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $37.83.
GoDaddy (NYSE:GDDY) traded up 1.25% during trading on Tuesday, reaching $35.66. 258,511 shares of the company’s stock were exchanged. GoDaddy has a 52 week low of $23.88 and a 52 week high of $36.30. The stock’s market capitalization is $5.43 billion. The stock has a 50-day moving average of $33.93 and a 200-day moving average of $31.91.
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GoDaddy (NYSE:GDDY) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.07) by $0.04. The business had revenue of $456.20 million for the quarter, compared to analysts’ expectations of $450.51 million. GoDaddy had a negative return on equity of 3.30% and a negative net margin of 1.26%. The firm’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same quarter last year, the company earned ($0.46) earnings per share. On average, equities research analysts anticipate that GoDaddy will post ($0.04) EPS for the current year.
In related news, EVP James M. Carroll sold 60,000 shares of the stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $32.04, for a total transaction of $1,922,400.00. Following the completion of the sale, the executive vice president now directly owns 60,091 shares of the company’s stock, valued at $1,925,315.64. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Auguste Goldman sold 1,000 shares of the stock in a transaction 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 sale, the insider now directly owns 2,339 shares of the company’s stock, valued at $74,848. The disclosure for this sale can be found here. 25.70% of the stock is owned by insiders.
Several large investors have recently modified their holdings of GDDY. Technology Crossover Management VII Ltd. increased its stake in shares of GoDaddy by 194.2% in the second quarter. Technology Crossover Management VII Ltd. now owns 14,267,080 shares of the company’s stock valued at $444,990,000 after buying an additional 9,418,073 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of GoDaddy by 399.7% in the second quarter. JPMorgan Chase & Co. now owns 6,208,234 shares of the company’s stock valued at $193,636,000 after buying an additional 4,965,848 shares in the last quarter. FMR LLC increased its stake in shares of GoDaddy by 60.4% in the second quarter. FMR LLC now owns 12,238,511 shares of the company’s stock valued at $381,719,000 after buying an additional 4,609,309 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of GoDaddy by 60.8% in the second quarter. Vanguard Group Inc. now owns 4,725,249 shares of the company’s stock valued at $147,381,000 after buying an additional 1,786,473 shares in the last quarter. Finally, Columbia Wanger Asset Management LLC bought a new stake in shares of GoDaddy during the second quarter valued at $37,167,000.
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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