GoDaddy Inc. (GDDY) Receives New Coverage from Analysts at William Blair
William Blair began coverage on shares of GoDaddy Inc. (NYSE:GDDY) in a report released on Thursday. The brokerage set an “outperform” rating on the technology company’s stock.
Other equities analysts have also issued reports about the company. BidaskClub upgraded GoDaddy from a “hold” rating to a “buy” rating in a research report on Saturday, September 2nd. Jefferies Group LLC reiterated a “buy” rating and set a $55.00 price objective on shares of GoDaddy in a research report on Wednesday, September 20th. Stifel Nicolaus set a $41.00 price objective on GoDaddy and gave the company a “hold” rating in a research report on Wednesday, August 9th. Oppenheimer Holdings, Inc. increased their price objective on GoDaddy from $47.00 to $50.00 and gave the company an “outperform” rating in a research report on Thursday, August 10th. Finally, B. Riley reiterated a “buy” rating and set a $53.00 price objective on shares of GoDaddy in a research report on Wednesday, July 19th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and fourteen have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $46.86.
Shares of GoDaddy (NYSE GDDY) traded up 0.50% on Thursday, hitting $43.83. The company had a trading volume of 88,177 shares. The firm has a market capitalization of $4.88 billion, a price-to-earnings ratio of 345.12 and a beta of 0.62. The company has a 50 day moving average price of $43.84 and a 200 day moving average price of $43.84. GoDaddy has a 1-year low of $31.63 and a 1-year high of $45.37.
GoDaddy (NYSE:GDDY) last released its quarterly earnings results on Tuesday, August 8th. The technology company reported $0.13 earnings per share for the quarter, beating the 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 firm had revenue of $557.80 million for the quarter, compared to analysts’ expectations of $551.26 million. During the same quarter last year, the firm posted ($0.11) EPS. The company’s revenue was up 22.3% compared to the same quarter last year. On average, equities analysts forecast that GoDaddy will post $0.33 earnings per share for the current fiscal year.
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In other news, CEO Blake Irving sold 37,500 shares of the firm’s stock in a transaction that occurred on Tuesday, July 11th. The stock was sold at an average price of $42.23, for a total value of $1,583,625.00. Following the completion of the transaction, the chief executive officer now owns 40,606 shares in the company, valued at approximately $1,714,791.38. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Robert R. Parsons sold 5,817,338 shares of the firm’s stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $43.71, for a total value of $254,275,843.98. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,341,448 shares of company stock valued at $538,948,902. Company insiders own 22.68% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Parallel Advisors LLC lifted its stake in shares of GoDaddy by 10.1% in the 1st quarter. Parallel Advisors LLC now owns 2,721 shares of the technology company’s stock valued at $105,000 after purchasing an additional 250 shares during the period. Aperio Group LLC lifted its stake in shares of GoDaddy by 5.6% in the 2nd quarter. Aperio Group LLC now owns 6,993 shares of the technology company’s stock valued at $297,000 after purchasing an additional 373 shares during the period. The Manufacturers Life Insurance Company lifted its stake in shares of GoDaddy by 7.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,476 shares of the technology company’s stock valued at $232,000 after purchasing an additional 397 shares during the period. Symphony Asset Management LLC lifted its stake in shares of GoDaddy by 4.0% in the 2nd quarter. Symphony Asset Management LLC now owns 13,044 shares of the technology company’s stock valued at $553,000 after purchasing an additional 501 shares during the period. Finally, Russell Investments Group Ltd. lifted its stake in shares of GoDaddy by 1.6% in the 1st quarter. Russell Investments Group Ltd. now owns 45,625 shares of the technology company’s stock valued at $1,728,000 after purchasing an additional 708 shares during the period. Institutional investors own 77.95% of the company’s stock.
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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