Zacks Investment Research upgraded shares of GoDaddy Inc. (NYSE:GDDY) from a hold rating to a buy rating in a research report report published on Wednesday morning. The brokerage currently has $39.00 price objective on the stock.
According to Zacks, “GoDaddy, Inc. is engaged in the designing and development of cloud-based technology products for small businesses, Web design professionals and individuals. The Company’s products include domain, hosting and presence and business applications. GoDaddy, Inc. is headquartered in Scottsdale, Arizona. “
Other analysts have also issued reports about the company. Deutsche Bank AG boosted their price objective on GoDaddy from $36.00 to $39.00 and gave the company a buy rating in a report on Thursday, August 4th. Piper Jaffray Cos. reissued a buy rating and issued a $38.00 price objective on shares of GoDaddy in a report on Monday, July 18th. Summit Redstone started coverage on GoDaddy in a report on Monday, October 3rd. They issued a buy rating and a $41.00 price objective for the company. B. Riley reissued a neutral rating and issued a $33.50 price objective on shares of GoDaddy in a report on Tuesday, August 9th. Finally, Citigroup Inc. downgraded GoDaddy from a buy rating to a neutral rating and set a $35.00 target price for the company. in a research note on Tuesday, June 7th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and fourteen have issued a buy rating to the company. The stock currently has a consensus rating of Buy and an average target price of $37.63.
GoDaddy (NYSE:GDDY) opened at 35.96 on Wednesday. The company has a 50-day moving average price of $33.52 and a 200 day moving average price of $31.77. GoDaddy has a 1-year low of $23.88 and a 1-year high of $36.03. The stock’s market capitalization is $5.48 billion.
GoDaddy (NYSE:GDDY) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.11) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by $0.04. The firm earned $456.20 million during the quarter, compared to the consensus estimate of $450.51 million. GoDaddy had a negative net margin of 1.26% and a negative return on equity of 3.30%. The firm’s quarterly revenue was up 15.6% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.46) earnings per share. On average, equities analysts predict that GoDaddy will post ($0.04) EPS for the current year.
In other GoDaddy news, CFO Scott Wagner sold 8,000 shares of the company’s stock in a transaction on Wednesday, July 20th. The stock was sold at an average price of $29.42, for a total value of $235,360.00. Following the transaction, the chief financial officer now owns 9,250 shares of the company’s stock, valued at $272,135. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Auguste Goldman sold 1,000 shares of the company’s stock in a transaction on Friday, August 5th. The shares were sold at an average price of $32.00, for a total value of $32,000.00. Following the completion of the transaction, the insider now directly owns 2,339 shares in the company, valued at approximately $74,848. The disclosure for this sale can be found here. Corporate insiders own 25.70% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Technology Crossover Management VII Ltd. boosted its position in GoDaddy by 194.2% in the second quarter. Technology Crossover Management VII Ltd. now owns 14,267,080 shares of the company’s stock valued at $444,990,000 after buying an additional 9,418,073 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of GoDaddy by 399.7% in the second quarter. JPMorgan Chase & Co. now owns 6,208,234 shares of the company’s stock valued at $193,636,000 after buying an additional 4,965,848 shares during the period. FMR LLC increased its stake in shares of GoDaddy by 60.4% in the second quarter. FMR LLC now owns 12,238,511 shares of the company’s stock valued at $381,719,000 after buying an additional 4,609,309 shares during the period. Vanguard Group Inc. increased its stake in shares of GoDaddy by 60.8% in the second quarter. Vanguard Group Inc. now owns 4,725,249 shares of the company’s stock valued at $147,381,000 after buying an additional 1,786,473 shares during the period. Finally, Columbia Wanger Asset Management LLC purchased a new stake in shares of GoDaddy during the second quarter valued at about $37,167,000.
GoDaddy Inc is a technology provider to small businesses, Web design professionals and individuals. The Company delivers cloud-based products and personalized customer care. The Company 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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