SunTrust Banks restated their buy rating on shares of Godaddy (NYSE:GDDY) in a research report sent to investors on Tuesday morning, AnalystRatings.com reports. The firm currently has a $90.00 target price 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.”,” the firm’s analyst commented.
GDDY has been the subject of a number of other research reports. ValuEngine cut Godaddy from a buy rating to a hold rating in a report on Thursday, August 1st. Raymond James lowered their target price on Godaddy from $86.00 to $85.00 and set an outperform rating for the company in a report on Friday, August 2nd. Finally, TheStreet cut Godaddy from a b rating to a c rating in a report on Tuesday, May 21st. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average target price of $89.38.
Godaddy (NYSE:GDDY) last released its earnings results on Thursday, August 1st. The technology company reported $0.13 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.17 by ($0.04). The firm had revenue of $737.20 million for the quarter, compared to the consensus estimate of $735.40 million. Godaddy had a return on equity of 11.44% and a net margin of 1.98%. Godaddy’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same quarter last year, the company posted $0.11 EPS. On average, analysts forecast that Godaddy will post 0.48 earnings per share for the current fiscal year.
In other news, CEO Scott Wagner sold 7,606 shares of the firm’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $70.10, for a total value of $533,180.60. Following the completion of the transaction, the chief executive officer now owns 219,804 shares in the company, valued at approximately $15,408,260.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Rebecca Morrow sold 384 shares of the firm’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $74.90, for a total value of $28,761.60. Following the completion of the transaction, the insider now owns 8,316 shares of the company’s stock, valued at approximately $622,868.40. The disclosure for this sale can be found here. Insiders sold a total of 23,978 shares of company stock valued at $1,667,026 in the last 90 days. 12.64% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Redhawk Wealth Advisors Inc. bought a new position in shares of Godaddy in the 2nd quarter valued at about $27,000. Berman Capital Advisors LLC grew its holdings in shares of Godaddy by 205.4% in the 1st quarter. Berman Capital Advisors LLC now owns 452 shares of the technology company’s stock valued at $33,000 after acquiring an additional 304 shares in the last quarter. Commonwealth Bank of Australia grew its holdings in shares of Godaddy by 80.1% in the 2nd quarter. Commonwealth Bank of Australia now owns 508 shares of the technology company’s stock valued at $35,000 after acquiring an additional 226 shares in the last quarter. Icon Wealth Partners LLC bought a new position in shares of Godaddy in the 1st quarter valued at about $45,000. Finally, Signaturefd LLC grew its holdings in shares of Godaddy by 36.0% in the 1st quarter. Signaturefd LLC now owns 722 shares of the technology company’s stock valued at $54,000 after acquiring an additional 191 shares in the last quarter. Institutional investors own 96.56% of the company’s stock.
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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