GoDaddy Inc. (GDDY) Given a $40.00 Price Target at Piper Jaffray Cos.
Other equities analysts have also recently issued research reports about the company. Deutsche Bank AG lifted their price objective on GoDaddy from $36.00 to $39.00 and gave the company a buy rating in a research note on Thursday, August 4th. Zacks Investment Research cut GoDaddy from a buy rating to a hold rating in a research note on Tuesday, July 5th. B. Riley reiterated a neutral rating and issued a $33.50 price objective on shares of GoDaddy in a research note on Tuesday, August 9th. Citigroup Inc. cut GoDaddy from a buy rating to a neutral rating and set a $35.00 price objective for the company. in a research note on Tuesday, June 7th. Finally, Raymond James Financial Inc. assumed coverage on GoDaddy in a research note on Tuesday, June 14th. They issued an outperform rating and a $37.00 price objective for the company. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and eleven have assigned a buy rating to the company. The stock currently has an average rating of Buy and a consensus target price of $36.88.
GoDaddy (NYSE:GDDY) opened at 33.55 on Monday. GoDaddy has a 12-month low of $23.39 and a 12-month high of $35.35. The stock’s 50 day moving average is $32.42 and its 200 day moving average is $31.47. The firm’s market cap is $5.11 billion.
GoDaddy (NYSE:GDDY) last released its earnings results on Wednesday, August 3rd. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.07) by $0.04. The firm earned $456.20 million during the quarter, compared to analyst estimates of $450.51 million. GoDaddy had a negative net margin of 1.26% and a negative return on equity of 3.30%. The business’s 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 research analysts expect that GoDaddy will post ($0.04) EPS for the current year.
In other news, insider Auguste Goldman sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, September 15th. The stock was sold at an average price of $32.47, for a total value of $32,470.00. Following the transaction, the insider now owns 2,586 shares of the company’s stock, valued at $83,967.42. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Scott Wagner sold 8,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $28.86, for a total value of $230,880.00. Following the completion of the transaction, the chief operating officer now directly owns 9,309 shares in the company, valued at approximately $268,657.74. The disclosure for this sale can be found here. Company insiders own 25.70% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Technology Crossover Management VII Ltd. raised 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 worth $444,990,000 after buying an additional 9,418,073 shares during the last quarter. JPMorgan Chase & Co. raised its position in GoDaddy by 399.7% in the second quarter. JPMorgan Chase & Co. now owns 6,208,234 shares of the company’s stock worth $193,636,000 after buying an additional 4,965,848 shares during the last quarter. FMR LLC raised its position in GoDaddy by 60.4% in the second quarter. FMR LLC now owns 12,238,511 shares of the company’s stock worth $381,719,000 after buying an additional 4,609,309 shares during the last quarter. Vanguard Group Inc. raised its position in GoDaddy by 60.8% in the second quarter. Vanguard Group Inc. now owns 4,725,249 shares of the company’s stock worth $147,381,000 after buying an additional 1,786,473 shares during the last quarter. Finally, Columbia Wanger Asset Management LLC bought a new position in GoDaddy during the second quarter worth 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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