GoDaddy Inc. (GDDY) Receives “Buy” Rating from B. Riley
GoDaddy Inc. (NYSE:GDDY)‘s stock had its “buy” rating restated by investment analysts at B. Riley in a note issued to investors on Monday. They presently have a $53.00 price target on the technology company’s stock. B. Riley’s price target suggests a potential upside of 23.11% from the stock’s current price.
Other research analysts have also issued reports about the stock. Cantor Fitzgerald boosted their price target on shares of GoDaddy from $42.00 to $46.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 3rd. Barclays PLC initiated coverage on shares of GoDaddy in a report on Tuesday, March 28th. They set an “overweight” rating and a $45.00 price objective on the stock. Piper Jaffray Companies reissued an “overweight” rating and set a $50.00 price objective (up previously from $46.00) on shares of GoDaddy in a report on Tuesday, May 16th. Zacks Investment Research downgraded shares of GoDaddy from a “hold” rating to a “sell” rating in a report on Thursday, July 6th. Finally, BidaskClub raised shares of GoDaddy from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 10th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the company’s stock. GoDaddy has a consensus rating of “Buy” and an average price target of $43.75.
GoDaddy (GDDY) traded up 1.14% on Monday, reaching $43.54. The company’s stock had a trading volume of 685,789 shares. The company’s 50 day moving average price is $42.44 and its 200-day moving average price is $38.57. GoDaddy has a 12-month low of $28.13 and a 12-month high of $44.22. The stock’s market cap is $3.95 billion.
GoDaddy (NYSE:GDDY) last released its quarterly earnings data on Tuesday, May 2nd. The technology company reported $0.01 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.05. The business had revenue of $489.70 million during the quarter, compared to analysts’ expectations of $487.77 million. GoDaddy had a negative net margin of 0.28% and a positive return on equity of 0.73%. On average, equities analysts expect that GoDaddy will post $0.21 EPS for the current year.
In other news, CEO Blake Irving sold 37,500 shares of the stock in a transaction on Tuesday, May 9th. The shares were sold at an average price of $39.11, for a total value of $1,466,625.00. Following the completion of the sale, the chief executive officer now owns 39,855 shares of the company’s stock, valued at $1,558,729.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Auguste Goldman sold 1,000 shares of the stock in a transaction on Monday, May 15th. The stock was sold at an average price of $38.98, for a total transaction of $38,980.00. Following the completion of the sale, the insider now directly owns 6,491 shares of the company’s stock, valued at approximately $253,019.18. The disclosure for this sale can be found here. Insiders have sold 20,294,413 shares of company stock worth $762,530,369 in the last three months. Insiders own 25.70% of the company’s stock.
Several large investors have recently added to or reduced their stakes in GDDY. Technology Crossover Management VII Ltd. raised its stake in GoDaddy by 194.2% in the second quarter. Technology Crossover Management VII Ltd. now owns 14,267,080 shares of the technology company’s stock valued at $444,990,000 after buying an additional 9,418,073 shares during the last quarter. JPMorgan Chase & Co. raised its stake in GoDaddy by 399.7% in the second quarter. JPMorgan Chase & Co. now owns 6,208,234 shares of the technology company’s stock valued at $193,636,000 after buying an additional 4,965,848 shares during the last quarter. Lord Abbett & CO. LLC acquired a new stake in GoDaddy during the fourth quarter valued at about $82,136,000. Vanguard Group Inc. raised its stake in GoDaddy by 60.8% in the second quarter. Vanguard Group Inc. now owns 4,725,249 shares of the technology company’s stock valued at $147,381,000 after buying an additional 1,786,473 shares during the last quarter. Finally, Eaton Vance Management acquired a new stake in GoDaddy during the third quarter valued at about $58,445,000.
GoDaddy Inc is a technology provider to small businesses, Web design professionals and individuals. The Company delivers cloud-based products and personalized customer care. 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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