Godaddy Inc (NYSE:GDDY) – Equities researchers at SunTrust Banks raised their Q4 2019 earnings estimates for shares of Godaddy in a report issued on Thursday, November 7th. SunTrust Banks analyst N. Khan now forecasts that the technology company will post earnings per share of $0.27 for the quarter, up from their previous forecast of $0.26. SunTrust Banks has a “Buy” rating and a $90.00 price target on the stock. SunTrust Banks also issued estimates for Godaddy’s FY2020 earnings at $1.06 EPS, FY2021 earnings at $1.79 EPS, FY2022 earnings at $2.59 EPS and FY2023 earnings at $3.42 EPS.
Several other equities research analysts have also weighed in on the stock. ValuEngine lowered shares of Godaddy from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Wedbush reaffirmed a “neutral” rating on shares of Godaddy in a report on Monday. Piper Jaffray Companies lowered their target price on shares of Godaddy from $92.00 to $91.00 and set an “overweight” rating on the stock in a report on Thursday. Barclays increased their price objective on shares of Godaddy from $89.00 to $90.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Raymond James decreased their price objective on shares of Godaddy from $86.00 to $85.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $88.63.
Shares of GDDY traded down $4.03 during trading hours on Friday, hitting $69.00. The stock had a trading volume of 2,775,796 shares, compared to its average volume of 1,602,668. The company’s fifty day moving average is $64.48 and its two-hundred day moving average is $69.62. The company has a debt-to-equity ratio of 2.64, a current ratio of 0.85 and a quick ratio of 0.85. Godaddy has a 52 week low of $56.67 and a 52 week high of $82.30. The stock has a market capitalization of $11.10 billion, a price-to-earnings ratio of 109.52, a P/E/G ratio of 9.25 and a beta of 0.68.
Godaddy (NYSE:GDDY) last posted its earnings results on Wednesday, November 6th. The technology company reported $0.42 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.20. Godaddy had a net margin of 1.98% and a return on equity of 11.44%. The business had revenue of $760.50 million for the quarter, compared to analyst estimates of $761.04 million. During the same quarter in the prior year, the firm earned $0.08 EPS. The firm’s quarterly revenue was up 11.9% compared to the same quarter last year.
In other Godaddy news, Director Brian Sharples sold 850 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $65.73, for a total transaction of $55,870.50. Following the sale, the director now owns 12,648 shares of the company’s stock, valued at approximately $831,353.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Raymond E. Winborne, Jr. sold 449 shares of the stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $62.86, for a total transaction of $28,224.14. Following the sale, the chief financial officer now directly owns 87,885 shares in the company, valued at approximately $5,524,451.10. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,351 shares of company stock worth $469,536. Insiders own 12.64% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the business. Corient Capital Partners LLC lifted its position in Godaddy by 78.8% during the 3rd quarter. Corient Capital Partners LLC now owns 6,398 shares of the technology company’s stock valued at $422,000 after purchasing an additional 2,820 shares during the period. Harel Insurance Investments & Financial Services Ltd. lifted its position in Godaddy by 76.1% during the 3rd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 4,756 shares of the technology company’s stock valued at $314,000 after purchasing an additional 2,056 shares during the period. Parkside Financial Bank & Trust lifted its position in Godaddy by 40.5% during the 3rd quarter. Parkside Financial Bank & Trust now owns 1,738 shares of the technology company’s stock valued at $115,000 after purchasing an additional 501 shares during the period. Daiwa Securities Group Inc. lifted its position in Godaddy by 7.4% during the 3rd quarter. Daiwa Securities Group Inc. now owns 48,130 shares of the technology company’s stock valued at $3,176,000 after purchasing an additional 3,325 shares during the period. Finally, Tibra Equities Europe Ltd acquired a new position in Godaddy during the 3rd quarter valued at about $1,597,000. Institutional investors own 96.95% of the company’s stock.
Godaddy Company Profile
GoDaddy Inc designs and develops cloud-based technology products for small businesses, Web design professionals, and individuals in the United States and internationally. The company provides domain name registration product that enables to engage customers at the initial stage of establishing a digital identity; and hosting products, including shared Website hosting, Website hosting on virtual private servers and virtual dedicated servers, managed hosting, and security.
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