GoDaddy’s (GDDY) Buy Rating Reaffirmed at Jefferies Group LLC

Jefferies Group LLC reissued their buy rating on shares of GoDaddy Inc. (NYSE:GDDY) in a research report sent to investors on Wednesday. The brokerage currently has a $55.00 price target on the technology company’s stock.

A number of other equities analysts have also weighed in on GDDY. B. Riley restated a buy rating and issued a $53.00 price objective on shares of GoDaddy in a report on Wednesday, August 9th. Oppenheimer Holdings, Inc. boosted their price objective on shares of GoDaddy from $47.00 to $50.00 and gave the stock an outperform rating in a report on Thursday, August 10th. Raymond James Financial, Inc. boosted their price objective on shares of GoDaddy from $47.00 to $48.00 and gave the stock an outperform rating in a report on Wednesday, August 9th. Stifel Nicolaus set a $41.00 price objective on shares of GoDaddy and gave the stock a hold rating in a report on Wednesday, August 9th. Finally, SunTrust Banks, Inc. assumed coverage on shares of GoDaddy in a report on Tuesday, August 15th. They issued a buy rating and a $50.00 price objective for the company. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have issued a buy rating to the company. GoDaddy has a consensus rating of Buy and an average target price of $46.47.

GoDaddy (NYSE GDDY) opened at 45.30 on Wednesday. The stock has a 50 day moving average price of $44.09 and a 200 day moving average price of $44.09. The company has a market capitalization of $5.04 billion, a price-to-earnings ratio of 356.69 and a beta of 0.64. GoDaddy has a 12-month low of $31.63 and a 12-month high of $45.37.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings data on Tuesday, August 8th. The technology company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.10. GoDaddy had a net margin of 1.21% and a return on equity of 6.05%. The company had revenue of $557.80 million during the quarter, compared to analyst estimates of $551.26 million. During the same period in the previous year, the business earned ($0.11) EPS. The firm’s revenue for the quarter was up 22.3% on a year-over-year basis. On average, analysts expect that GoDaddy will post $0.33 EPS for the current year.

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In other news, EVP Nima Kelly sold 1,000 shares of the business’s stock in a transaction on Tuesday, September 19th. The shares were sold at an average price of $44.60, for a total transaction of $44,600.00. Following the completion of the sale, the executive vice president now owns 29,934 shares of the company’s stock, valued at approximately $1,335,056.40. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Barbara J. Rechterman sold 35,000 shares of the business’s stock in a transaction on Wednesday, September 20th. The shares were sold at an average price of $44.72, for a total transaction of $1,565,200.00. Following the sale, the insider now directly owns 50,427 shares of the company’s stock, valued at approximately $2,255,095.44. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,321,948 shares of company stock valued at $538,035,432. 25.70% of the stock is currently owned by insiders.

Several hedge funds have recently modified their holdings of the company. Ardsley Advisory Partners bought a new stake in shares of GoDaddy during the 2nd quarter valued at $5,090,000. Public Employees Retirement System of Ohio grew its position in shares of GoDaddy by 77.5% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 30,389 shares of the technology company’s stock valued at $1,289,000 after acquiring an additional 13,272 shares during the period. Koch Industries Inc. bought a new stake in shares of GoDaddy during the 2nd quarter valued at $248,000. California State Teachers Retirement System grew its position in shares of GoDaddy by 51.2% during the 2nd quarter. California State Teachers Retirement System now owns 139,602 shares of the technology company’s stock valued at $5,922,000 after acquiring an additional 47,275 shares during the period. Finally, The Manufacturers Life Insurance Company grew its position in shares of GoDaddy by 7.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,476 shares of the technology company’s stock valued at $232,000 after acquiring an additional 397 shares during the period. 77.87% of the stock is owned by hedge funds and other institutional investors.

About GoDaddy

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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