GoDaddy Inc. (GDDY) Given Average Recommendation of “Buy” by Brokerages
GoDaddy Inc. (NYSE:GDDY) has been given a consensus rating of “Buy” by the thirteen ratings firms that are presently covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation, nine have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $43.63.
GDDY has been the subject of several research reports. B. Riley reiterated a “buy” rating and issued a $45.00 price target on shares of GoDaddy in a research report on Sunday, April 16th. BidaskClub upgraded shares of GoDaddy from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 10th. Piper Jaffray Companies reiterated an “overweight” rating and issued a $50.00 price target (up previously from $46.00) on shares of GoDaddy in a research report on Tuesday, May 16th. Barclays PLC initiated coverage on shares of GoDaddy in a research report on Tuesday, March 28th. They issued an “overweight” rating and a $45.00 price target for the company. Finally, Cantor Fitzgerald upped their price target on shares of GoDaddy from $42.00 to $46.00 and gave the company an “overweight” rating in a research report on Wednesday, May 3rd.
In other news, COO Scott Wagner sold 8,000 shares of the company’s stock in a transaction on Wednesday, April 5th. The shares were sold at an average price of $37.34, for a total transaction of $298,720.00. Following the transaction, the chief operating officer now directly owns 10,355 shares of the company’s stock, valued at approximately $386,655.70. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Blake Irving sold 37,500 shares of the company’s stock in a transaction on Tuesday, April 11th. The stock was sold at an average price of $36.46, for a total transaction of $1,367,250.00. Following the transaction, the chief executive officer now directly owns 39,855 shares in the company, valued at $1,453,113.30. The disclosure for this sale can be found here. Insiders sold a total of 20,116,913 shares of company stock worth $754,693,914 over the last three months. 25.70% of the stock is currently owned by corporate insiders.
Several institutional investors have recently bought and sold shares of the company. Credit Suisse AG boosted its position in GoDaddy by 569.1% in the first quarter. Credit Suisse AG now owns 201,560 shares of the technology company’s stock worth $7,639,000 after buying an additional 171,436 shares during the period. Tudor Investment Corp ET AL boosted its position in GoDaddy by 88.6% in the first quarter. Tudor Investment Corp ET AL now owns 13,767 shares of the technology company’s stock worth $522,000 after buying an additional 6,467 shares during the period. Gotham Asset Management LLC bought a new position in GoDaddy during the first quarter worth $310,000. Soros Fund Management LLC bought a new position in GoDaddy during the first quarter worth $493,000. Finally, Highbridge Capital Management LLC boosted its position in GoDaddy by 112.7% in the first quarter. Highbridge Capital Management LLC now owns 13,596 shares of the technology company’s stock worth $515,000 after buying an additional 7,204 shares during the period.
GoDaddy (NYSE:GDDY) traded up 0.311% during mid-day trading on Monday, hitting $42.231. 84,556 shares of the stock were exchanged. GoDaddy has a 52-week low of $28.13 and a 52-week high of $44.22. The company has a 50 day moving average price of $40.66 and a 200 day moving average price of $37.34. The firm’s market cap is $3.87 billion.
GoDaddy (NYSE:GDDY) last released its quarterly earnings results on Tuesday, May 2nd. The technology company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.04) by $0.05. GoDaddy had a negative net margin of 0.28% and a positive return on equity of 0.73%. The firm had revenue of $489.70 million during the quarter, compared to the consensus estimate of $487.77 million. On average, analysts anticipate that GoDaddy will post $0.19 EPS for the current year.
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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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