GoDaddy Inc. (GDDY) Lifted to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of GoDaddy Inc. (NYSE:GDDY) from a hold rating to a buy rating in a research note released on Wednesday. Zacks Investment Research currently has $39.00 price target 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. “
GDDY has been the subject of a number of other research reports. Summit Redstone assumed coverage on GoDaddy in a research report on Monday, October 3rd. They set a buy rating and a $41.00 price target for the company. Piper Jaffray Cos. set a $40.00 price target on GoDaddy and gave the company a buy rating in a research report on Monday, September 19th. B. Riley reissued a neutral rating and set a $33.50 price target on shares of GoDaddy in a research report on Tuesday, August 9th. 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 report on Tuesday, June 7th. Finally, RBC Capital Markets reaffirmed an outperform rating and issued a $38.00 target price (up previously from $37.00) on shares of GoDaddy in a research report on Thursday, August 4th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and fourteen have assigned a buy rating to the stock. GoDaddy presently has a consensus rating of Buy and a consensus target price of $37.63.
Shares of GoDaddy (NYSE:GDDY) opened at 35.48 on Wednesday. The firm’s market cap 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 has a 52-week low of $23.88 and a 52-week high of $35.70.
GoDaddy (NYSE:GDDY) last released its earnings results on Wednesday, August 3rd. The company reported ($0.11) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by $0.04. The business 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 for the quarter was up 15.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.46) earnings per share. Analysts predict that GoDaddy will post ($0.04) EPS for the current fiscal year.
In other GoDaddy news, insider Auguste Goldman sold 1,000 shares of the company’s 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 sale, the insider now owns 2,339 shares in the company, valued at $74,848. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Scott Wagner sold 8,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 20th. The shares were sold at an average price of $29.42, for a total value of $235,360.00. Following the sale, the chief financial officer now owns 9,250 shares in the company, valued at approximately $272,135. The disclosure for this sale can be found here. Company insiders own 25.70% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. Aperio Group LLC boosted its stake in shares of 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 last quarter. TIAA CREF Investment Management LLC boosted its stake in shares of GoDaddy by 83.1% in the first quarter. TIAA CREF Investment Management LLC now owns 241,785 shares of the company’s stock worth $7,817,000 after buying an additional 109,760 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of GoDaddy by 8.9% in the first quarter. Franklin Resources Inc. now owns 1,078,380 shares of the company’s stock worth $34,864,000 after buying an additional 88,490 shares during the last quarter. BlackRock Inc. boosted its stake in shares of GoDaddy by 46.3% in the first quarter. BlackRock Inc. now owns 12,808 shares of the company’s stock worth $414,000 after buying an additional 4,053 shares during the last quarter. Finally, BlackRock Group LTD boosted its stake in shares of GoDaddy by 19.2% in the first quarter. BlackRock Group LTD now owns 282,923 shares of the company’s stock worth $9,147,000 after buying an additional 45,538 shares during the last quarter.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for GoDaddy Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GoDaddy Inc. and related companies with MarketBeat.com's FREE daily email newsletter.