SunTrust Banks, Inc. Begins Coverage on GoDaddy Inc. (GDDY)
Equities research analysts at SunTrust Banks, Inc. assumed coverage on shares of GoDaddy Inc. (NYSE:GDDY) in a report released on Tuesday, The Fly reports. The brokerage set a “buy” rating on the technology company’s stock.
Several other equities research analysts have also recently weighed in on the company. Piper Jaffray Companies reiterated an “overweight” rating and issued a $50.00 target price (up from $46.00) on shares of GoDaddy in a report on Tuesday, May 16th. Zacks Investment Research cut GoDaddy from a “hold” rating to a “sell” rating in a report on Thursday, July 6th. Cantor Fitzgerald reiterated a “hold” rating on shares of GoDaddy in a report on Monday, June 26th. Barclays PLC upped their target price on GoDaddy from $45.00 to $47.00 and gave the stock an “overweight” rating in a report on Wednesday, July 19th. Finally, BidaskClub cut GoDaddy from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 11th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $45.54.
Shares of GoDaddy (NYSE:GDDY) traded down 1.54% during trading on Tuesday, hitting $41.69. The company had a trading volume of 1,385,818 shares. The stock’s 50-day moving average price is $42.68 and its 200 day moving average price is $39.55. The company has a market capitalization of $4.64 billion, a P/E ratio of 328.27 and a beta of 0.65. GoDaddy has a 52 week low of $31.59 and a 52 week high of $45.26.
GoDaddy (NYSE:GDDY) last posted its quarterly earnings data on Tuesday, August 8th. The technology company reported $0.13 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.10. GoDaddy had a return on equity of 6.05% and a net margin of 1.21%. The company had revenue of $557.80 million during the quarter, compared to analysts’ expectations of $551.26 million. During the same quarter in the previous year, the business earned ($0.11) EPS. GoDaddy’s revenue was up 22.3% compared to the same quarter last year. On average, equities research analysts forecast that GoDaddy will post $0.17 earnings per share for the current year.
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In other news, CFO Raymond E. Winborne, Jr. sold 818 shares of the stock in a transaction dated Wednesday, May 17th. The stock was sold at an average price of $39.55, for a total value of $32,351.90. Following the transaction, the chief financial officer now directly owns 17,808 shares of the company’s stock, valued at $704,306.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Barbara J. Rechterman sold 35,000 shares of the stock in a transaction dated Wednesday, May 17th. The shares were sold at an average price of $39.58, for a total value of $1,385,300.00. Following the completion of the transaction, the insider now directly owns 68,108 shares in the company, valued at $2,695,714.64. The disclosure for this sale can be found here. Insiders have sold a total of 730,664 shares of company stock worth $30,788,251 over the last ninety days. 25.70% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP raised its position in shares of GoDaddy by 76.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 101,620 shares of the technology company’s stock worth $3,552,000 after buying an additional 43,957 shares in the last quarter. Teachers Advisors LLC increased its stake in shares of GoDaddy by 30.4% in the fourth quarter. Teachers Advisors LLC now owns 61,926 shares of the technology company’s stock worth $2,164,000 after buying an additional 14,419 shares during the last quarter. Highbridge Capital Management LLC bought a new stake in shares of GoDaddy during the fourth quarter worth approximately $223,000. Profund Advisors LLC increased its stake in shares of GoDaddy by 14.4% in the first quarter. Profund Advisors LLC now owns 25,770 shares of the technology company’s stock worth $977,000 after buying an additional 3,250 shares during the last quarter. Finally, Acadian Asset Management LLC bought a new stake in shares of GoDaddy during the first quarter worth approximately $2,118,000.
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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