Godaddy Inc (NYSE:GDDY) Receives Consensus Recommendation of “Buy” from Analysts

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Shares of Godaddy Inc (NYSE:GDDY) have been given a consensus rating of “Buy” by the ten ratings firms that are covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $89.86.

Several equities research analysts recently commented on GDDY shares. Morgan Stanley set a $226.00 price target on S&P Global and gave the company a “hold” rating in a report on Friday, May 3rd. Barclays increased their price target on WEX from $222.00 to $238.00 and gave the company an “overweight” rating in a report on Monday, May 6th. Zacks Investment Research cut German American Bancorp. from a “buy” rating to a “hold” rating in a report on Tuesday, April 30th. SunTrust Banks increased their price target on Lendingtree to $326.00 and gave the company a “hold” rating in a report on Monday, April 29th. They noted that the move was a valuation call. Finally, ValuEngine raised WEX from a “hold” rating to a “buy” rating in a report on Thursday, June 13th.

In related news, CEO Scott Wagner sold 37,000 shares of the stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $73.87, for a total value of $2,733,190.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Raymond E. Winborne, Jr. sold 441 shares of the stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $71.67, for a total value of $31,606.47. Following the completion of the transaction, the chief financial officer now owns 88,334 shares of the company’s stock, valued at $6,330,897.78. The disclosure for this sale can be found here. Insiders sold 77,754 shares of company stock valued at $5,623,735 over the last quarter. 12.64% of the stock is currently owned by company insiders.

A number of institutional investors have recently modified their holdings of the stock. BlackRock Inc. boosted its position in shares of Godaddy by 15.7% during the first quarter. BlackRock Inc. now owns 11,596,746 shares of the technology company’s stock worth $871,958,000 after buying an additional 1,576,019 shares during the period. Lunia Capital LP boosted its position in shares of Godaddy by 5,352.6% during the fourth quarter. Lunia Capital LP now owns 10,922,121 shares of the technology company’s stock worth $10,922,000 after buying an additional 10,721,812 shares during the period. FMR LLC boosted its position in shares of Godaddy by 32.6% during the first quarter. FMR LLC now owns 8,332,155 shares of the technology company’s stock worth $626,495,000 after buying an additional 2,046,952 shares during the period. Janus Henderson Group PLC boosted its position in shares of Godaddy by 7.4% during the first quarter. Janus Henderson Group PLC now owns 7,932,555 shares of the technology company’s stock worth $596,449,000 after buying an additional 546,497 shares during the period. Finally, Brahman Capital Corp. boosted its position in shares of Godaddy by 22.8% during the fourth quarter. Brahman Capital Corp. now owns 3,367,519 shares of the technology company’s stock worth $220,977,000 after buying an additional 624,221 shares during the period. Institutional investors own 97.54% of the company’s stock.

Shares of NYSE:GDDY traded up $1.64 during midday trading on Tuesday, hitting $73.00. The company had a trading volume of 1,841,681 shares, compared to its average volume of 1,466,793. Godaddy has a twelve month low of $56.67 and a twelve month high of $84.97. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 2.72. The stock has a market capitalization of $12.94 billion, a PE ratio of 115.87, a price-to-earnings-growth ratio of 5.88 and a beta of 0.63. The firm’s 50-day moving average is $72.04.

Godaddy (NYSE:GDDY) last posted its quarterly earnings results on Thursday, May 2nd. The technology company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.12 by ($0.05). Godaddy had a net margin of 3.17% and a return on equity of 11.89%. The company had revenue of $710.00 million during the quarter, compared to analyst estimates of $711.18 million. During the same period in the prior year, the business posted $0.02 EPS. Godaddy’s revenue for the quarter was up 12.1% compared to the same quarter last year. As a group, equities research analysts expect that Godaddy will post 0.73 earnings per share for the current fiscal year.

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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Analyst Recommendations for Godaddy (NYSE:GDDY)

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