Godaddy (GDDY) Rating Lowered to Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of Godaddy (NYSE:GDDY) from a hold rating to a sell rating in a research note published on Thursday.

According to Zacks, “GoDaddy faces significant competition and the company’s heavy debt burden along with surrounding controversies poses major challenges. Also, over the last one year, the stock has underperformed the industry it belongs to. However, GoDaddy's new mobile-optimized website builder, GoCentral, has been gaining momentum and will be contributing to the company's top line growth. The company intends to release additional new GoCentral verticals, markets and features throughout 2017. Additionally, we believe that the company’s investment in products, technology platform and customer care, as well as offering innovative and increasingly personalized products and services globally will drive shareholder value.”

Other equities analysts have also issued reports about the stock. TheStreet raised shares of Godaddy from a c- rating to a b- rating in a report on Tuesday, November 7th. Oppenheimer reissued a buy rating and set a $53.00 price objective (up from $50.00) on shares of Godaddy in a report on Tuesday, November 7th. Stifel Nicolaus lifted their price objective on shares of Godaddy from $41.00 to $44.00 and gave the company a hold rating in a report on Tuesday, November 7th. Jefferies Group lifted their price objective on shares of Godaddy from $55.00 to $58.00 and gave the company a buy rating in a report on Tuesday, November 7th. Finally, B. Riley reissued a buy rating and set a $53.00 price objective on shares of Godaddy in a report on Tuesday, November 7th. One analyst has rated the stock with a sell rating, five have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of Buy and an average price target of $50.43.

Shares of Godaddy (NYSE:GDDY) traded up $0.44 during mid-day trading on Thursday, reaching $51.67. 664,202 shares of the company traded hands, compared to its average volume of 834,390. The stock has a market capitalization of $8,597.16, a price-to-earnings ratio of 198.74, a price-to-earnings-growth ratio of 5.40 and a beta of 0.65. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 5.15. Godaddy has a 12 month low of $34.58 and a 12 month high of $52.11.

Godaddy (NYSE:GDDY) last issued its quarterly earnings data on Monday, November 6th. The technology company reported $0.07 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.07. Godaddy had a net margin of 2.34% and a return on equity of 7.89%. analysts anticipate that Godaddy will post 0.27 EPS for the current fiscal year.

In other news, EVP Nima Kelly sold 8,112 shares of Godaddy stock in a transaction on Wednesday, October 25th. The shares were sold at an average price of $46.00, for a total transaction of $373,152.00. Following the completion of the sale, the executive vice president now directly owns 37,046 shares in the company, valued at $1,704,116. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Barbara J. Rechterman sold 35,000 shares of Godaddy stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $50.85, for a total transaction of $1,779,750.00. Following the sale, the insider now owns 46,113 shares of the company’s stock, valued at $2,344,846.05. The disclosure for this sale can be found here. Insiders sold 7,852,345 shares of company stock worth $371,099,712 over the last ninety days. Corporate insiders own 22.68% of the company’s stock.

Large investors have recently bought and sold shares of the company. SG Americas Securities LLC acquired a new stake in shares of Godaddy during the second quarter worth $118,000. Public Employees Retirement Association of Colorado lifted its stake in shares of Godaddy by 49.3% during the third quarter. Public Employees Retirement Association of Colorado now owns 3,675 shares of the technology company’s stock worth $160,000 after buying an additional 1,213 shares during the period. The Manufacturers Life Insurance Company lifted its stake in shares of Godaddy by 7.8% during the second quarter. The Manufacturers Life Insurance Company now owns 5,476 shares of the technology company’s stock worth $232,000 after buying an additional 397 shares during the period. Koch Industries Inc. acquired a new stake in shares of Godaddy during the second quarter worth $248,000. Finally, Comerica Bank acquired a new stake in shares of Godaddy during the third quarter worth $267,000. Institutional investors and hedge funds own 84.43% of the company’s stock.

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Godaddy Company Profile

GoDaddy Inc is a technology provider to small businesses, Web design professionals and individuals. The Company delivers cloud-based products and personalized customer care. It 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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