William Blair Reaffirms Buy Rating for Godaddy (GDDY)

Godaddy (NYSE:GDDY)‘s stock had its “buy” rating reaffirmed by investment analysts at William Blair in a research report issued to clients and investors on Monday.

Several other research firms also recently weighed in on GDDY. Morgan Stanley lifted their price objective on Godaddy from $59.00 to $64.00 and gave the company an “overweight” rating in a report on Friday, February 23rd. B. Riley reiterated a “buy” rating and issued a $53.00 target price on shares of Godaddy in a research note on Wednesday, January 3rd. Wedbush began coverage on Godaddy in a research note on Friday, December 8th. They issued a “neutral” rating and a $52.00 target price on the stock. Barclays lifted their target price on Godaddy from $53.00 to $59.00 and gave the company an “overweight” rating in a research note on Tuesday, January 30th. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $52.00 target price (up previously from $44.00) on shares of Godaddy in a research note on Friday, February 23rd. Seven investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Godaddy currently has an average rating of “Buy” and a consensus target price of $61.63.

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Shares of GDDY stock traded down $0.80 on Monday, hitting $60.62. The stock had a trading volume of 926,582 shares, compared to its average volume of 1,363,725. The company has a debt-to-equity ratio of 4.41, a current ratio of 0.59 and a quick ratio of 0.59. The company has a market capitalization of $10,314.44, a P/E ratio of 144.33, a PEG ratio of 5.46 and a beta of 0.55. Godaddy has a one year low of $36.02 and a one year high of $64.49.

Godaddy (NYSE:GDDY) last released its quarterly earnings data on Thursday, February 22nd. The technology company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.02. The firm had revenue of $602.20 million during the quarter, compared to the consensus estimate of $593.47 million. Godaddy had a return on equity of 9.87% and a net margin of 6.45%. analysts anticipate that Godaddy will post 0.47 earnings per share for the current fiscal year.

In other news, Director Robert R. Parsons sold 8,000,000 shares of the business’s stock in a transaction dated Monday, March 5th. The stock was sold at an average price of $59.21, for a total transaction of $473,680,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CRO Ah Kee Andrew Low sold 10,951 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $61.38, for a total value of $672,172.38. Following the sale, the executive now owns 51,880 shares in the company, valued at approximately $3,184,394.40. The disclosure for this sale can be found here. Insiders have sold 13,683,920 shares of company stock worth $808,579,114 in the last 90 days. Insiders own 22.68% of the company’s stock.

Several hedge funds have recently modified their holdings of GDDY. American International Group Inc. purchased a new stake in shares of Godaddy during the fourth quarter worth about $150,000. QS Investors LLC acquired a new stake in shares of Godaddy during the fourth quarter worth about $156,000. AXA acquired a new stake in shares of Godaddy during the fourth quarter worth about $201,000. US Bancorp DE lifted its holdings in shares of Godaddy by 10,297.6% during the fourth quarter. US Bancorp DE now owns 4,263 shares of the technology company’s stock worth $214,000 after purchasing an additional 4,222 shares during the period. Finally, Jefferies Group LLC acquired a new stake in shares of Godaddy during the fourth quarter worth about $231,000. Institutional investors and hedge funds own 86.87% of the company’s stock.

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Godaddy Company Profile

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.

Analyst Recommendations for Godaddy (NYSE:GDDY)

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