TheStreet upgraded shares of Godaddy (NYSE:GDDY) from a c+ rating to a b rating in a research note issued to investors on Thursday, February 21st.
Other equities research analysts have also issued reports about the company. SunTrust Banks reaffirmed a buy rating and issued a $87.00 target price on shares of Godaddy in a research report on Friday, November 2nd. Wedbush reaffirmed a neutral rating on shares of Godaddy in a research report on Wednesday, October 24th. Barclays increased their target price on Godaddy from $80.00 to $82.00 and gave the stock an overweight rating in a research report on Thursday, February 21st. Morgan Stanley increased their target price on Godaddy from $88.00 to $94.00 and gave the stock an overweight rating in a research report on Thursday, February 21st. Finally, Piper Jaffray Companies reaffirmed an overweight rating and issued a $97.00 target price on shares of Godaddy in a research report on Thursday, February 21st. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, three have given a hold rating and eleven have assigned a buy rating to the stock. Godaddy currently has a consensus rating of Buy and a consensus price target of $85.17.
Shares of GDDY opened at $74.95 on Thursday. Godaddy has a 52-week low of $56.67 and a 52-week high of $84.97. The company has a market capitalization of $13.19 billion, a price-to-earnings ratio of 118.97, a price-to-earnings-growth ratio of 5.53 and a beta of 0.64. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 3.29.
Godaddy (NYSE:GDDY) last posted its quarterly earnings results on Wednesday, February 20th. The technology company reported $0.28 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.15. The business had revenue of $696.00 million for the quarter, compared to analyst estimates of $693.41 million. Godaddy had a return on equity of 12.61% and a net margin of 2.90%. The business’s revenue was up 15.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.54 EPS. Sell-side analysts expect that Godaddy will post 0.82 earnings per share for the current fiscal year.
In related news, CAO Rebecca Morrow sold 633 shares of the firm’s stock in a transaction dated Tuesday, February 26th. The stock was sold at an average price of $75.14, for a total transaction of $47,563.62. Following the completion of the transaction, the chief accounting officer now owns 8,079 shares of the company’s stock, valued at $607,056.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Arne Josefsberg sold 7,572 shares of the firm’s stock in a transaction dated Monday, December 24th. The shares were sold at an average price of $59.11, for a total value of $447,580.92. The disclosure for this sale can be found here. Insiders have sold 227,478 shares of company stock valued at $16,029,943 in the last ninety days. Company insiders own 7.63% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Aperio Group LLC lifted its holdings in shares of Godaddy by 82.1% during the third quarter. Aperio Group LLC now owns 31,827 shares of the technology company’s stock valued at $2,654,000 after purchasing an additional 14,347 shares during the last quarter. IBM Retirement Fund purchased a new stake in shares of Godaddy during the third quarter valued at $218,000. Vanguard Group Inc lifted its holdings in shares of Godaddy by 12.0% during the third quarter. Vanguard Group Inc now owns 13,874,432 shares of the technology company’s stock valued at $1,156,988,000 after purchasing an additional 1,486,378 shares during the last quarter. Morgan Stanley lifted its holdings in shares of Godaddy by 0.7% during the third quarter. Morgan Stanley now owns 292,420 shares of the technology company’s stock valued at $24,386,000 after purchasing an additional 1,912 shares during the last quarter. Finally, LPL Financial LLC lifted its holdings in shares of Godaddy by 33.0% during the third quarter. LPL Financial LLC now owns 15,926 shares of the technology company’s stock valued at $1,328,000 after purchasing an additional 3,955 shares during the last quarter. 96.56% of the stock is owned by institutional investors and hedge funds.
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. It provides domain name registration product that enables to engage customers at the initial stage of establishing a digital identity; hosting products, such as shared Website hosting, Website hosting on virtual private servers and virtual dedicated servers, managed hosting, and security.
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