Shares of Godaddy Inc (NYSE:GDDY) have received a consensus recommendation of “Buy” from the twenty-one brokerages that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation, twelve have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $74.80.
A number of brokerages recently issued reports on GDDY. Zacks Investment Research upgraded shares of Godaddy from a “hold” rating to a “buy” rating and set a $88.00 target price on the stock in a research report on Wednesday, July 25th. Barclays raised their target price on shares of Godaddy from $77.00 to $84.00 and gave the stock an “overweight” rating in a research report on Monday, July 23rd. Piper Jaffray Companies restated an “overweight” rating and set a $90.00 target price on shares of Godaddy in a research report on Friday, July 20th. JPMorgan Chase & Co. raised their target price on shares of Godaddy to $80.00 and gave the stock a “neutral” rating in a research report on Friday, August 3rd. Finally, SunTrust Banks restated a “buy” rating and set a $87.00 target price on shares of Godaddy in a research report on Monday, August 6th.
In other Godaddy news, major shareholder Kkr 2006 Gp Llc sold 4,000,000 shares of Godaddy stock in a transaction on Wednesday, May 23rd. The shares were sold at an average price of $70.73, for a total value of $282,920,000.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Scott Wagner sold 125,000 shares of Godaddy stock in a transaction on Wednesday, May 23rd. The shares were sold at an average price of $70.73, for a total transaction of $8,841,250.00. Following the completion of the transaction, the chief executive officer now owns 310,351 shares in the company, valued at approximately $21,951,126.23. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,896,503 shares of company stock worth $576,602,070. 7.63% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently made changes to their positions in GDDY. BlackRock Inc. raised its stake in shares of Godaddy by 61.1% in the 2nd quarter. BlackRock Inc. now owns 8,629,570 shares of the technology company’s stock valued at $609,247,000 after acquiring an additional 3,271,953 shares during the period. Select Equity Group L.P. increased its stake in Godaddy by 12.8% during the 1st quarter. Select Equity Group L.P. now owns 5,639,807 shares of the technology company’s stock worth $346,397,000 after buying an additional 641,757 shares during the period. JPMorgan Chase & Co. increased its stake in Godaddy by 3.8% during the 1st quarter. JPMorgan Chase & Co. now owns 5,174,786 shares of the technology company’s stock worth $317,836,000 after buying an additional 190,251 shares during the period. Winslow Capital Management LLC purchased a new stake in Godaddy during the 1st quarter worth $257,700,000. Finally, Renaissance Technologies LLC increased its stake in Godaddy by 9.6% during the 2nd quarter. Renaissance Technologies LLC now owns 4,154,300 shares of the technology company’s stock worth $293,294,000 after buying an additional 364,800 shares during the period. Institutional investors own 94.76% of the company’s stock.
Shares of GDDY stock traded up $1.67 during trading hours on Friday, hitting $74.75. The company’s stock had a trading volume of 50,922 shares, compared to its average volume of 1,965,118. The firm has a market capitalization of $12.71 billion, a PE ratio of 177.06, a P/E/G ratio of 7.90 and a beta of 0.58. Godaddy has a twelve month low of $41.26 and a twelve month high of $80.42. The company has a debt-to-equity ratio of 3.56, a current ratio of 0.73 and a quick ratio of 0.73.
Godaddy (NYSE:GDDY) last released its quarterly earnings results on Thursday, August 2nd. The technology company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.08 by $0.03. Godaddy had a net margin of 5.83% and a return on equity of 8.78%. The business had revenue of $652.00 million for the quarter, compared to analyst estimates of $643.59 million. During the same period in the prior year, the business earned $0.10 earnings per share. The company’s quarterly revenue was up 16.8% on a year-over-year basis. sell-side analysts anticipate that Godaddy will post 0.55 earnings per share for the current year.
GoDaddy Inc designs and develops cloud-based technology products for small businesses, Web design professionals, and individuals in the United States and internationally. It provides domain name registration product that enables to engage customers at the initial stage of establishing a digital identity; hosting products, such as shared Website hosting, Website hosting on virtual private servers and virtual dedicated servers, managed hosting, and security.
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