According to MarketBeat.com, shares of GoDaddy Inc. (NYSE: GDDY – Get Rated) have received an average “buy” rating from the nine research firms that cover the stock. One analyst has a hold recommendation on the stock, five analysts have a buy recommendation, and one analyst has a strong buy recommendation on the company. Analysts who updated their coverage on the stock last year have an average 12-month price target of $100.75.
Several brokerages have recently released reports on GDDY. Raymond James lowered his price target on GoDaddy to $100.00 from $108.00 in a report on Thursday, Aug. 4, with a “strong buy” rating on the company. Jefferies Financial Group lowered its price target on GoDaddy to $100.00 from $110.00 in a report on Tuesday, May 31. Evercore ISI raised its price target on GoDaddy stock to $91.00 in a research note on Tuesday, Aug. 9. Morgan Stanley raised its price target on GoDaddy to $93.00 from $91.00 in a research note on Thursday, Aug. 4, with an “equal weight” rating on the stock. Finally, Barclays raised its price target on GoDaddy stock to $107.00 from $104.00 and gave the stock an “overweight” rating in a research note on Thursday, Aug. 4.
GoDaddy stock rose 0.9%
GDDY opened Thursday at $74.86. The stock has a market cap of $11.73 billion, a price-to-earnings ratio of 36.16, and a beta of 0.93. The company’s asset-liability ratio is 46.37, the current ratio is 0.63, and the quick ratio is 0.63. The stock’s 50-day moving average is $75.54 and its 200-day moving average is $76.99. GoDaddy’s 12-month low was $64.81 and its 12-month high was $88.32.
GoDaddy (NYSE: GDDY – Get Rating) last reported quarterly earnings results on Wednesday, Aug. 3. The tech company reported earnings per share of $0.56 for the quarter, beating the consensus estimate of $0.47 by $0.09. The business reported revenue of $1.02 billion for the quarter, compared with the consensus estimate of $1.02 billion. GoDaddy has a net profit margin of 8.58% and a return on equity of 147.44%. As a group, research analysts predict that GoDaddy will post an EPS of 2.2 for the year.
In other GoDaddy news, CAO Nick Daddario sold 600 shares of the company in a deal that took place on Monday, August 15. The stock sold at an average price of $82.00 for a total volume of $49,200.00. Following the transaction, the chief accounting officer now owns 15,608 shares of the company, worth approximately $1,279,856. The transaction was disclosed in a filing with the U.S. Securities and Exchange Commission, which can be accessed via this hyperlink. In other news, CAO Nick Daddario sold 600 shares of the company in trading on Monday, August 15. The stock sold at an average price of $82.00 for a total value of $49,200.00. Following the transaction, the chief accounting officer now owns 15,608 shares of the company, valued at $1,279,856. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In addition, CEO Amanpal Singh Bhutani sold 1,991 shares in the company in a transaction that took place on Tuesday, July 5. The stock sold at an average price of $69.86 for a total volume of $139,091.26. Following the sale, the CEO now owns 220,544 shares of the company, worth approximately $15,407,203.84. Disclosures for this sale can be found here. Insiders sold 19,731 shares of the company worth $1,415,295 in the past 90 days. 0.37% of the shares are held by insiders.
Hedge Funds Weigh GoDaddy
Several hedge funds have recently revised their holdings in GDDY. Starboard Value LP purchased approximately $576,318,000 worth of new GoDaddy shares in the fourth quarter. Wellington Management Group LLP increased its stake in GoDaddy by 28.5% in the first quarter. After acquiring an additional 3,052,975 shares during this period, Wellington Management Group LLP now owns 13,754,555 shares of the technology company’s stock, valued at $1,151,257,000. Capital International Investors increased its stake in GoDaddy by 11.6% in the fourth quarter. Capital International Investors now owns 15,042,125 shares of the tech company’s stock valued at $1,276,275,000 after purchasing an additional 1,569,106 shares in the previous quarter. Atlanta Capital Management Co. LLC increased its stake in GoDaddy by 70.3% in the fourth quarter. Atlanta Capital Management Co. LLC now owns 3,775,841 shares of the technology company’s stock, valued at $320,418,000, after purchasing an additional 1,558,150 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in GoDaddy by 1,429.5% in the first quarter. JPMorgan Chase & Co. now owns 1,291,216 shares of the tech company’s stock, valued at $108,074,000, after purchasing an additional 1,206,794 shares last quarter. Hedge funds and other institutional investors own 96.50% of the company.
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GoDaddy Inc designs and develops cloud-based technology products in the United States and internationally. The company offers domain registration products that can attract customers in the initial stages of establishing a digital identity. It also offers shared website hosting products that offer a variety of applications and products such as web analytics, Secure Sockets Layer certificates and WordPress; website hosting on virtual private servers and virtual private server products, allowing customers to choose the right one for their application procedures, requirements, and growing server configurations; managed products, which are used to set up, monitor, maintain, secure, and patch software and servers for customers; and security products, a suite of tools designed to help protect customers’ online presence.
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