GoDaddy Inc. (GDDY) Receives Consensus Rating of “Buy” from Analysts
GoDaddy Inc. (NYSE:GDDY) has been assigned an average rating of “Buy” from the seventeen ratings firms that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $47.64.
A number of equities research analysts have weighed in on GDDY shares. Deutsche Bank AG lifted their price target on shares of GoDaddy from $48.00 to $51.00 and gave the company a “buy” rating in a research report on Monday, August 14th. B. Riley reiterated a “buy” rating and set a $53.00 price target on shares of GoDaddy in a research report on Wednesday, July 19th. BidaskClub cut shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 11th. SunTrust Banks, Inc. started coverage on shares of GoDaddy in a research report on Tuesday, August 15th. They set a “buy” rating and a $50.00 price target for the company. Finally, Jefferies Group LLC started coverage on shares of GoDaddy in a research report on Thursday, August 24th. They set a “buy” rating and a $55.00 price target for the company.
In other news, insider Barbara J. Rechterman sold 35,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $43.42, for a total transaction of $1,519,700.00. Following the completion of the sale, the insider now owns 54,741 shares in the company, valued at approximately $2,376,854.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Nima Kelly sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 17th. The stock was sold at an average price of $43.89, for a total transaction of $43,890.00. Following the sale, the executive vice president now owns 29,934 shares of the company’s stock, valued at approximately $1,313,803.26. The disclosure for this sale can be found here. Insiders sold 12,324,948 shares of company stock valued at $538,390,617 in the last quarter. 22.68% of the stock is owned by insiders.
Several large investors have recently modified their holdings of GDDY. FMR LLC lifted its position in shares of GoDaddy by 40.9% during the 2nd quarter. FMR LLC now owns 10,839,221 shares of the technology company’s stock worth $459,800,000 after buying an additional 3,148,349 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of GoDaddy by 26.8% during the 2nd quarter. Vanguard Group Inc. now owns 7,553,811 shares of the technology company’s stock worth $320,434,000 after buying an additional 1,598,137 shares during the last quarter. Marshall Wace North America L.P. lifted its position in shares of GoDaddy by 280.7% during the 2nd quarter. Marshall Wace North America L.P. now owns 2,134,170 shares of the technology company’s stock worth $89,635,000 after buying an additional 1,573,572 shares during the last quarter. Ameriprise Financial Inc. lifted its position in shares of GoDaddy by 273.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,241,565 shares of the technology company’s stock worth $52,668,000 after buying an additional 908,685 shares during the last quarter. Finally, Laurion Capital Management LP purchased a new stake in shares of GoDaddy during the 2nd quarter worth approximately $33,449,000. Institutional investors and hedge funds own 77.95% of the company’s stock.
GoDaddy (GDDY) opened at 45.00 on Friday. The company has a market capitalization of $5.01 billion, a P/E ratio of 354.33 and a beta of 0.62. GoDaddy has a one year low of $31.63 and a one year high of $45.37. The company’s 50-day moving average is $43.95 and its 200 day moving average is $43.95.
GoDaddy (NYSE:GDDY) last released its quarterly earnings data on Tuesday, August 8th. The technology company reported $0.13 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.10. GoDaddy had a net margin of 1.21% and a return on equity of 6.05%. The firm had revenue of $557.80 million during the quarter, compared to analysts’ expectations of $551.26 million. During the same period last year, the business earned ($0.11) earnings per share. GoDaddy’s revenue was up 22.3% compared to the same quarter last year. On average, equities analysts anticipate that GoDaddy will post $0.30 earnings per share for the current year.
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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