SunTrust Banks, Inc. began coverage on shares of GoDaddy Inc. (NYSE:GDDY) in a report released on Tuesday morning, MarketBeat Ratings reports. The firm issued a buy rating and a $50.00 target price on the technology company’s stock.
Other analysts also recently issued reports about the company. B. Riley reaffirmed a buy rating and set a $53.00 price objective on shares of GoDaddy in a research note on Wednesday, July 19th. BidaskClub downgraded GoDaddy from a strong-buy rating to a buy rating in a research note on Tuesday, July 11th. Deutsche Bank AG increased their target price on GoDaddy from $48.00 to $51.00 and gave the stock a buy rating in a research note on Monday, August 14th. Cantor Fitzgerald reissued a hold rating on shares of GoDaddy in a research note on Monday, June 26th. Finally, Stifel Nicolaus set a $41.00 target price on GoDaddy and gave the stock a hold rating in a research note on Friday, June 23rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have given a buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of $45.86.
GoDaddy (GDDY) opened at 41.81 on Tuesday. The stock has a 50 day moving average price of $42.64 and a 200 day moving average price of $39.62. GoDaddy has a 52 week low of $31.59 and a 52 week high of $45.26. The stock has a market capitalization of $4.65 billion, a PE ratio of 329.21 and a beta of 0.65.
GoDaddy (NYSE:GDDY) last posted its quarterly earnings data on Tuesday, August 8th. The technology company reported $0.13 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.10. The firm had revenue of $557.80 million during the quarter, compared to the consensus estimate of $551.26 million. GoDaddy had a return on equity of 6.05% and a net margin of 1.21%. The firm’s revenue was up 22.3% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.11) EPS. Equities analysts forecast that GoDaddy will post $0.25 EPS for the current year.
In other news, insider Barbara J. Rechterman sold 35,000 shares of the firm’s stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $40.61, for a total transaction of $1,421,350.00. Following the sale, the insider now owns 68,108 shares in the company, valued at $2,765,865.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Nima Kelly sold 20,000 shares of the firm’s stock in a transaction on Friday, June 9th. The stock was sold at an average price of $44.00, for a total value of $880,000.00. Following the sale, the executive vice president now owns 51,744 shares in the company, valued at approximately $2,276,736. The disclosure for this sale can be found here. In the last quarter, insiders have sold 722,846 shares of company stock worth $30,565,529. 25.70% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of GDDY. Bank of New York Mellon Corp raised its position in shares of GoDaddy by 0.9% in the first quarter. Bank of New York Mellon Corp now owns 163,361 shares of the technology company’s stock valued at $6,192,000 after buying an additional 1,524 shares during the period. Teachers Advisors LLC raised its position in shares of GoDaddy by 30.4% in the fourth quarter. Teachers Advisors LLC now owns 61,926 shares of the technology company’s stock valued at $2,164,000 after buying an additional 14,419 shares during the period. Vanguard Group Inc. raised its position in shares of GoDaddy by 6.8% in the first quarter. Vanguard Group Inc. now owns 5,955,674 shares of the technology company’s stock valued at $225,720,000 after buying an additional 380,343 shares during the period. Dimensional Fund Advisors LP raised its position in shares of GoDaddy by 76.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 101,620 shares of the technology company’s stock valued at $3,552,000 after buying an additional 43,957 shares during the period. Finally, UBS Asset Management Americas Inc. raised its position in shares of GoDaddy by 16.1% in the first quarter. UBS Asset Management Americas Inc. now owns 31,770 shares of the technology company’s stock valued at $1,204,000 after buying an additional 4,403 shares during the period.
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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