SunTrust Banks reissued their buy rating on shares of Godaddy (NYSE:GDDY) in a report released on Tuesday morning, AnalystRatings.com reports. The firm currently has a $90.00 price target on the technology company’s stock.
“We view the introduction of new marketing technology called the launch of integrated product suite called Websites + Marketing positively given that a) the move bolsters GoDaddy’s offering for small business marketing, which should arguably lead to higher ARPU and LTV over time and b) the offering should boost customer value proposition (given the promising early results) and help GoDaddy’s competitive positioning, both of which bode well for customer retention and acquisition, in our view. Note: We’ll be hosting a investor meeting with mgt in SF on Thursday, 9/18.”,” SunTrust Banks’ analyst commented.
GDDY has been the topic of several other reports. ValuEngine lowered Godaddy from a buy rating to a hold rating in a research note on Thursday, August 1st. Raymond James lowered their price objective on Godaddy from $86.00 to $85.00 and set an outperform rating on the stock in a research note on Friday, August 2nd. Finally, TheStreet lowered Godaddy from a b rating to a c rating in a research note on Tuesday, May 21st. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company currently has an average rating of Buy and a consensus price target of $89.38.
GDDY stock opened at $66.62 on Tuesday. Godaddy has a 1-year low of $56.67 and a 1-year high of $84.97. The firm has a market cap of $11.89 billion, a P/E ratio of 105.75, a P/E/G ratio of 7.59 and a beta of 0.68. The business’s 50 day moving average is $64.95 and its 200-day moving average is $72.32. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 2.64.
Godaddy (NYSE:GDDY) last released its quarterly earnings data on Thursday, August 1st. The technology company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.04). Godaddy had a net margin of 1.98% and a return on equity of 11.44%. The company had revenue of $737.20 million during the quarter, compared to the consensus estimate of $735.40 million. During the same quarter in the prior year, the company posted $0.11 earnings per share. The company’s revenue for the quarter was up 13.1% on a year-over-year basis. Sell-side analysts forecast that Godaddy will post 0.48 EPS for the current year.
In related news, insider Rebecca Morrow sold 384 shares of the stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $74.90, for a total transaction of $28,761.60. Following the sale, the insider now directly owns 8,316 shares in the company, valued at approximately $622,868.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Scott Wagner sold 7,606 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $70.10, for a total value of $533,180.60. Following the sale, the chief executive officer now owns 219,804 shares in the company, valued at $15,408,260.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,978 shares of company stock worth $1,667,026. 12.64% of the stock is owned by corporate insiders.
Large investors have recently bought and sold shares of the business. M&T Bank Corp lifted its holdings in Godaddy by 98.7% during the 2nd quarter. M&T Bank Corp now owns 9,619 shares of the technology company’s stock worth $675,000 after buying an additional 4,777 shares in the last quarter. Strs Ohio lifted its holdings in Godaddy by 157.1% during the 2nd quarter. Strs Ohio now owns 16,287 shares of the technology company’s stock worth $1,142,000 after buying an additional 9,953 shares in the last quarter. Eminence Capital LP acquired a new position in Godaddy during the 2nd quarter worth $103,895,000. GSA Capital Partners LLP lifted its holdings in Godaddy by 178.3% during the 2nd quarter. GSA Capital Partners LLP now owns 29,261 shares of the technology company’s stock worth $2,053,000 after buying an additional 18,746 shares in the last quarter. Finally, California State Teachers Retirement System lifted its holdings in Godaddy by 5.7% during the 1st quarter. California State Teachers Retirement System now owns 269,404 shares of the technology company’s stock worth $20,256,000 after buying an additional 14,601 shares in the last quarter. 96.56% of the stock is currently owned by hedge funds and other institutional investors.
Godaddy Company Profile
GoDaddy Inc designs and develops cloud-based technology products for small businesses, Web design professionals, and individuals in the United States and internationally. The company provides domain name registration product that enables to engage customers at the initial stage of establishing a digital identity; and hosting products, including shared Website hosting, Website hosting on virtual private servers and virtual dedicated servers, managed hosting, and security.
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