A number of other research analysts also recently weighed in on the stock. Piper Jaffray Cos. set a $40.00 price objective on shares of GoDaddy and gave the company a buy rating in a research report on Monday, September 19th. Zacks Investment Research downgraded shares of GoDaddy from a hold rating to a sell rating in a research report on Thursday, August 4th. Summit Redstone started coverage on shares of GoDaddy in a research report on Monday, October 3rd. They set a buy rating and a $41.00 price objective on the stock. Vetr downgraded shares of GoDaddy from a strong-buy rating to a buy rating and set a $39.00 price objective on the stock. in a research report on Thursday, October 6th. Finally, Deutsche Bank AG increased their price objective on shares of GoDaddy from $39.00 to $42.00 and gave the company a buy rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and fifteen have given a buy rating to the stock. The company presently has an average rating of Buy and an average target price of $38.09.
Shares of GoDaddy (NYSE:GDDY) traded up 1.38% during trading on Tuesday, reaching $36.00. 222,199 shares of the company traded hands. The firm’s 50 day moving average is $34.02 and its 200-day moving average is $31.92. GoDaddy has a 12-month low of $23.88 and a 12-month high of $36.36. The stock’s market capitalization is $2.97 billion.
GoDaddy (NYSE:GDDY) last issued its earnings results on Wednesday, August 3rd. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the 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 return on equity of 3.30% and a negative net margin of 1.26%. The company’s quarterly revenue was up 15.6% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.46) EPS. On average, equities research analysts anticipate that GoDaddy will post ($0.04) earnings per share for the current fiscal year.
In other news, CEO Blake Irving sold 37,500 shares of GoDaddy stock in a transaction that occurred on Tuesday, October 11th. The shares were sold at an average price of $35.71, for a total value of $1,339,125.00. Following the transaction, the chief executive officer now owns 39,003 shares of the company’s stock, valued at approximately $1,392,797.13. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Auguste Goldman sold 1,000 shares of GoDaddy stock in a transaction that occurred on Friday, August 5th. The stock was sold at an average price of $32.00, for a total transaction 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. 25.70% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Technology Crossover Management VII Ltd. increased its position in shares of GoDaddy by 194.2% in the second quarter. Technology Crossover Management VII Ltd. now owns 14,267,080 shares of the company’s stock worth $444,990,000 after buying an additional 9,418,073 shares during the last quarter. JPMorgan Chase & Co. boosted 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 last quarter. FMR LLC boosted 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 last quarter. Vanguard Group Inc. boosted 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 last quarter. Finally, Columbia Wanger Asset Management LLC acquired a new stake in shares of GoDaddy during the second quarter valued at approximately $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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