Godaddy (NYSE:GDDY) was downgraded by stock analysts at J P Morgan Chase & Co from an “overweight” rating to a “neutral” rating in a research note issued on Tuesday, Marketbeat.com reports. They currently have a $54.00 target price on the technology company’s stock. J P Morgan Chase & Co’s price target points to a potential upside of 10.27% from the company’s current price.
A number of other equities research analysts have also recently weighed in on GDDY. Deutsche Bank lifted their price objective on shares of Godaddy from $48.00 to $51.00 and gave the company a “buy” rating in a research note on Monday, August 14th. B. Riley restated a “buy” rating and set a $53.00 price objective on shares of Godaddy in a research note on Monday, August 14th. SunTrust Banks initiated coverage on shares of Godaddy in a research note on Tuesday, August 15th. They set a “buy” rating and a $50.00 price objective on the stock. Jefferies Group started coverage on shares of Godaddy in a research note on Thursday, August 24th. They set a “buy” rating and a $55.00 price objective on the stock. Finally, Royal Bank of Canada reiterated an “outperform” rating on shares of Godaddy in a research report on Saturday, August 26th. Six research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $50.43.
Shares of Godaddy (NYSE GDDY) traded up $0.76 during midday trading on Tuesday, hitting $48.97. 2,301,930 shares of the company were exchanged, compared to its average volume of 1,592,794. Godaddy has a fifty-two week low of $34.27 and a fifty-two week high of $51.29. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 5.15. The company has a market capitalization of $8,147.92, a PE ratio of 157.97, a P/E/G ratio of 8.87 and a beta of 0.65.
A number of institutional investors and hedge funds have recently modified their holdings of GDDY. Capital International Investors increased its stake in Godaddy by 628.1% in the 3rd quarter. Capital International Investors now owns 3,715,574 shares of the technology company’s stock worth $161,665,000 after purchasing an additional 3,205,274 shares in the last quarter. FMR LLC increased its stake in Godaddy by 40.9% in the 2nd quarter. FMR LLC now owns 10,839,221 shares of the technology company’s stock worth $459,800,000 after purchasing an additional 3,148,349 shares in the last quarter. Vanguard Group Inc. increased its stake in Godaddy by 26.8% in the 2nd quarter. Vanguard Group Inc. now owns 7,553,811 shares of the technology company’s stock worth $320,434,000 after purchasing an additional 1,598,137 shares in the last quarter. Marshall Wace North America L.P. increased its stake in Godaddy by 280.7% in 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 purchasing an additional 1,573,572 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its stake in Godaddy by 273.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,241,565 shares of the technology company’s stock worth $52,668,000 after purchasing an additional 908,685 shares in the last quarter. 84.26% of the stock is currently owned by hedge funds and other institutional investors.
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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.
