GoDaddy Inc. (GDDY) Rating Reiterated by Jefferies Group LLC
GoDaddy Inc. (NYSE:GDDY)‘s stock had its “buy” rating reiterated by equities researchers at Jefferies Group LLC in a research note issued on Wednesday. They currently have a $55.00 target price on the technology company’s stock. Jefferies Group LLC’s price target points to a potential upside of 22.96% from the company’s previous close.
Several other equities analysts have also weighed in on GDDY. BidaskClub raised GoDaddy from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 10th. Oppenheimer Holdings, Inc. increased their target price on GoDaddy from $44.00 to $47.00 and gave the company an “outperform” rating in a research note on Thursday, June 22nd. Stifel Nicolaus set a $41.00 target price on GoDaddy and gave the company a “hold” rating in a research note on Friday, June 23rd. Cantor Fitzgerald reissued a “hold” rating on shares of GoDaddy in a research note on Monday, June 26th. Finally, Zacks Investment Research lowered GoDaddy from a “hold” rating to a “sell” rating in a research note on Thursday, July 6th. One research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $46.47.
Shares of GoDaddy (NYSE:GDDY) opened at 44.72 on Wednesday. The firm has a market cap of $4.97 billion, a P/E ratio of 352.13 and a beta of 0.64. GoDaddy has a 12-month low of $31.63 and a 12-month high of $45.02. The firm’s 50-day moving average price is $44.09 and its 200 day moving average price is $44.09.
GoDaddy (NYSE:GDDY) last released its earnings results on Tuesday, August 8th. The technology company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.10. GoDaddy had a return on equity of 6.05% and a net margin of 1.21%. The firm had revenue of $557.80 million for the quarter, compared to analyst estimates of $551.26 million. During the same quarter in the prior year, the firm posted ($0.11) earnings per share. The company’s quarterly revenue was up 22.3% on a year-over-year basis. On average, equities analysts expect that GoDaddy will post $0.33 earnings per share for the current fiscal year.
In related news, EVP Nima Kelly sold 1,000 shares of GoDaddy stock in a transaction that occurred on Tuesday, September 19th. The stock was sold at an average price of $44.60, for a total value of $44,600.00. Following the sale, the executive vice president now owns 29,934 shares of the company’s stock, valued at approximately $1,335,056.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Barbara J. Rechterman sold 35,000 shares of GoDaddy stock in a transaction that occurred on Wednesday, June 28th. The shares were sold at an average price of $41.94, for a total value of $1,467,900.00. Following the completion of the sale, the insider now directly owns 54,741 shares in the company, valued at approximately $2,295,837.54. The disclosure for this sale can be found here. In the last three months, insiders sold 12,321,948 shares of company stock worth $538,035,432. 25.70% of the stock is owned by insiders.
A number of institutional investors have recently made changes to their positions in the stock. Parallel Advisors LLC raised its position in GoDaddy by 10.1% in the 1st quarter. Parallel Advisors LLC now owns 2,721 shares of the technology company’s stock valued at $105,000 after buying an additional 250 shares during the last quarter. Aperio Group LLC raised its position in GoDaddy by 5.6% in the 2nd quarter. Aperio Group LLC now owns 6,993 shares of the technology company’s stock valued at $297,000 after buying an additional 373 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in GoDaddy by 7.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,476 shares of the technology company’s stock valued at $232,000 after buying an additional 397 shares during the last quarter. Symphony Asset Management LLC raised its position in GoDaddy by 4.0% in the 2nd quarter. Symphony Asset Management LLC now owns 13,044 shares of the technology company’s stock valued at $553,000 after buying an additional 501 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its position in GoDaddy by 1.6% in the 1st quarter. Russell Investments Group Ltd. now owns 45,625 shares of the technology company’s stock valued at $1,728,000 after buying an additional 708 shares during the last quarter. 77.87% of the stock is currently owned by institutional investors and hedge funds.
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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