ValuEngine Downgrades Godaddy (GDDY) to Buy

Godaddy (NYSE:GDDY) was downgraded by equities research analysts at ValuEngine from a “strong-buy” rating to a “buy” rating in a report issued on Thursday.

GDDY has been the topic of several other reports. Wedbush reiterated a “neutral” rating and issued a $85.00 price objective on shares of Godaddy in a research report on Thursday, September 13th. Zacks Investment Research lowered shares of Godaddy from a “buy” rating to a “hold” rating in a research report on Monday, August 13th. Morgan Stanley boosted their price objective on shares of Godaddy from $72.00 to $81.00 and gave the stock an “overweight” rating in a research report on Monday, August 6th. TheStreet upgraded shares of Godaddy from a “c+” rating to a “b-” rating in a research report on Friday, August 24th. Finally, Piper Jaffray Companies reiterated an “overweight” rating and issued a $90.00 price objective on shares of Godaddy in a research report on Friday, July 20th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. Godaddy has a consensus rating of “Buy” and a consensus target price of $77.60.

Godaddy stock opened at $75.44 on Thursday. Godaddy has a 52 week low of $43.40 and a 52 week high of $84.97. The company has a debt-to-equity ratio of 3.56, a quick ratio of 0.73 and a current ratio of 0.73. The stock has a market capitalization of $14.37 billion, a P/E ratio of 179.62, a price-to-earnings-growth ratio of 8.93 and a beta of 0.63.

Godaddy (NYSE:GDDY) last released its quarterly earnings data on Thursday, August 2nd. The technology company reported $0.11 EPS for the quarter, topping 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 previous year, the firm earned $0.10 EPS. The business’s revenue for the quarter was up 16.8% compared to the same quarter last year. Analysts forecast that Godaddy will post 0.55 EPS for the current fiscal year.

In other Godaddy news, Director Brian Sharples sold 1,200 shares of the company’s stock in a transaction dated Thursday, October 4th. The shares were sold at an average price of $81.94, for a total value of $98,328.00. Following the transaction, the director now directly owns 14,982 shares in the company, valued at approximately $1,227,625.08. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Steven Aldrich sold 25,000 shares of the company’s stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $83.06, for a total transaction of $2,076,500.00. Following the completion of the transaction, the insider now owns 52,596 shares in the company, valued at $4,368,623.76. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,800,557 shares of company stock worth $590,768,080. 7.63% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of GDDY. BlackRock Inc. increased its stake in shares of Godaddy by 61.1% during 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 last quarter. Voya Investment Management LLC increased its stake in shares of Godaddy by 599.6% during the 2nd quarter. Voya Investment Management LLC now owns 1,833,104 shares of the technology company’s stock valued at $129,417,000 after acquiring an additional 1,571,091 shares during the last quarter. Bank of America Corp DE increased its stake in shares of Godaddy by 154.4% during the 2nd quarter. Bank of America Corp DE now owns 1,696,012 shares of the technology company’s stock valued at $119,738,000 after acquiring an additional 1,029,426 shares during the last quarter. Millennium Management LLC increased its stake in shares of Godaddy by 157.6% during the 1st quarter. Millennium Management LLC now owns 1,072,631 shares of the technology company’s stock valued at $65,881,000 after acquiring an additional 656,261 shares during the last quarter. Finally, Select Equity Group L.P. increased its stake in shares of 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 valued at $346,397,000 after acquiring an additional 641,757 shares during the last quarter. 93.61% of the stock is owned by 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. 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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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Godaddy (NYSE:GDDY)

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