Godaddy Inc (NYSE:GDDY) – Stock analysts at Wedbush lifted their Q4 2019 EPS estimates for Godaddy in a research note issued to investors on Thursday, November 7th. Wedbush analyst Y. Arounian now forecasts that the technology company will earn $0.43 per share for the quarter, up from their previous forecast of $0.34. Wedbush has a “Neutral” rating on the stock. Wedbush also issued estimates for Godaddy’s Q1 2020 earnings at $0.11 EPS, Q2 2020 earnings at $0.17 EPS, Q3 2020 earnings at $0.42 EPS, Q4 2020 earnings at $0.47 EPS, FY2020 earnings at $1.17 EPS, Q1 2021 earnings at $0.19 EPS, Q2 2021 earnings at $0.26 EPS and FY2021 earnings at $1.59 EPS.
A number of other research firms have also commented on GDDY. Piper Jaffray Companies reduced their target price on Godaddy from $92.00 to $91.00 and set an “overweight” rating for the company in a report on Thursday. Raymond James reduced their target price on Godaddy from $86.00 to $85.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. ValuEngine lowered Godaddy from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. SunTrust Banks reissued a “buy” rating and issued a $90.00 target price on shares of Godaddy in a report on Friday, November 1st. Finally, Barclays lifted their target price on Godaddy from $89.00 to $90.00 and gave the stock an “overweight” rating in a report on Thursday. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Godaddy presently has an average rating of “Buy” and a consensus target price of $88.63.
Shares of Godaddy stock traded down $4.03 on Friday, reaching $69.00. The company’s stock had a trading volume of 2,775,796 shares, compared to its average volume of 1,602,668. The company 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. The firm’s fifty day simple moving average is $64.48 and its two-hundred day simple moving average is $69.62. Godaddy has a 52 week low of $56.67 and a 52 week high of $82.30. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 2.64.
Godaddy (NYSE:GDDY) last posted its earnings results on Wednesday, November 6th. The technology company reported $0.42 EPS for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.20. The business had revenue of $760.50 million during the quarter, compared to analyst estimates of $761.04 million. Godaddy had a return on equity of 11.44% and a net margin of 1.98%. The company’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.08 EPS.
Institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. grew its holdings in Godaddy by 23.7% during the second quarter. BlackRock Inc. now owns 14,344,269 shares of the technology company’s stock valued at $1,006,251,000 after purchasing an additional 2,747,523 shares during the period. Nuveen Asset Management LLC grew its holdings in Godaddy by 3,070.3% during the second quarter. Nuveen Asset Management LLC now owns 2,805,367 shares of the technology company’s stock valued at $196,797,000 after purchasing an additional 2,716,877 shares during the period. Marshall Wace LLP grew its holdings in Godaddy by 1,989.7% during the second quarter. Marshall Wace LLP now owns 1,878,596 shares of the technology company’s stock valued at $131,784,000 after purchasing an additional 1,788,699 shares during the period. Eminence Capital LP bought a new stake in Godaddy during the second quarter valued at about $103,895,000. Finally, Waddell & Reed Financial Inc. bought a new stake in Godaddy during the second quarter valued at about $61,997,000. 96.95% of the stock is owned by institutional investors.
In related news, Director Brian Sharples sold 745 shares of Godaddy stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $62.86, for a total value of $46,830.70. Following the completion of the sale, the director now owns 13,498 shares of the company’s stock, valued at $848,484.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Raymond E. Winborne, Jr. sold 449 shares of Godaddy stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $62.86, for a total value of $28,224.14. Following the completion of the sale, the chief financial officer now directly owns 87,885 shares of the company’s stock, valued at approximately $5,524,451.10. The disclosure for this sale can be found here. Insiders sold 7,351 shares of company stock valued at $469,536 in the last ninety days. 12.64% of the stock is currently owned by corporate insiders.
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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