GoDaddy Inc. (GDDY) Stock Rating Lowered by Vetr Inc.
GoDaddy Inc. (NYSE:GDDY) was downgraded by equities researchers at Vetr from a “strong-buy” rating to a “buy” rating in a research report issued on Thursday. They currently have a $39.00 price target on the stock. Vetr‘s price objective indicates a potential upside of 9.92% from the company’s current price.
Several other analysts have also weighed in on the company. Zacks Investment Research upgraded GoDaddy from a “hold” rating to a “buy” rating and set a $39.00 price objective for the company in a report on Wednesday, October 5th. Summit Redstone began coverage on GoDaddy in a report on Monday, October 3rd. They issued a “buy” rating and a $41.00 price objective for the company. Piper Jaffray Cos. set a $40.00 price objective on GoDaddy and gave the company a “buy” rating in a report on Monday, September 19th. B. Riley restated a “neutral” rating and issued a $33.50 price objective on shares of GoDaddy in a report on Tuesday, August 9th. Finally, Deutsche Bank AG upped 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. One analyst has rated the stock with a sell rating, two have assigned a hold rating and fourteen have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $37.63.
Shares of GoDaddy (NYSE:GDDY) opened at 35.48 on Thursday. GoDaddy has a 52 week low of $23.88 and a 52 week high of $35.70. The firm’s market capitalization is $5.40 billion. The firm has a 50-day moving average price of $33.41 and a 200-day moving average price of $31.74.
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 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 company’s quarterly revenue was up 15.6% compared to the same quarter last year. During the same quarter last year, the company earned ($0.46) EPS. On average, equities analysts expect that GoDaddy will post ($0.04) earnings per share for the current fiscal year.
In other GoDaddy news, COO Scott Wagner sold 8,000 shares of the business’s stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $28.86, for a total value of $230,880.00. Following the transaction, the chief operating officer now owns 9,309 shares in the company, valued at $268,657.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Barbara J. Rechterman sold 39,000 shares of the business’s stock in a transaction dated Wednesday, October 5th. The shares were sold at an average price of $34.59, for a total value of $1,349,010.00. Following the completion of the transaction, the insider now owns 69,650 shares in the company, valued at approximately $2,409,193.50. The disclosure for this sale can be found here. 25.70% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of GDDY. Wellington Management Group LLP increased its position in shares of GoDaddy by 266.8% in the first quarter. Wellington Management Group LLP now owns 776,803 shares of the company’s stock worth $25,114,000 after buying an additional 565,022 shares during the period. RS Investment Management Co. LLC increased its stake in GoDaddy by 19.7% in the second quarter. RS Investment Management Co. LLC now owns 1,311,389 shares of the company’s stock valued at $40,902,000 after buying an additional 215,732 shares during the period. TIAA CREF Investment Management LLC increased its stake in GoDaddy by 83.1% in the first quarter. TIAA CREF Investment Management LLC now owns 241,785 shares of the company’s stock valued at $7,817,000 after buying an additional 109,760 shares during the period. DG Capital Management Inc. bought a new stake in GoDaddy during the second quarter valued at about $762,000. Finally, Aperio Group LLC increased its stake in GoDaddy by 1.0% in the first quarter. Aperio Group LLC now owns 9,907 shares of the company’s stock valued at $320,000 after buying an additional 98 shares during the period.
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. 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.
To view Vetr’s full report, visit Vetr’s official website.
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