Godaddy (NYSE:GDDY) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Thursday, January 18th.
According to Zacks, “GoDaddy faces significant competition and the company’s heavy debt burden along with surrounding controversies poses major challenges. Also, over the last one year, the stock has underperformed the industry it belongs to. However, GoDaddy's new mobile-optimized website builder, GoCentral, has been gaining momentum and will be contributing to the company's top line growth. The company intends to release additional new GoCentral verticals, markets and features throughout 2017. Additionally, we believe that the company’s investment in products, technology platform and customer care, as well as offering innovative and increasingly personalized products and services globally will drive shareholder value.”
Several other equities research analysts also recently weighed in on GDDY. Jefferies Group reaffirmed a “buy” rating and set a $55.00 price target on shares of Godaddy in a report on Wednesday, September 20th. Oppenheimer reaffirmed a “buy” rating and set a $53.00 price target (up from $50.00) on shares of Godaddy in a report on Tuesday, November 7th. TheStreet raised Godaddy from a “c-” rating to a “b-” rating in a report on Tuesday, November 7th. Wedbush assumed coverage on Godaddy in a report on Friday, December 8th. They issued a “neutral” rating and a $52.00 target price for the company. Finally, Royal Bank of Canada raised their target price on Godaddy from $47.00 to $53.00 and gave the company an “outperform” rating in a report on Tuesday, November 7th. Six research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $51.80.
Shares of Godaddy (NYSE GDDY) traded up $0.54 during midday trading on Thursday, hitting $52.59. The company had a trading volume of 1,056,294 shares, compared to its average volume of 1,050,000. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 5.15. Godaddy has a 52-week low of $34.58 and a 52-week high of $56.20. The firm has a market capitalization of $8,750.00 and a P/E ratio of 404.54.
In related news, insider Barbara J. Rechterman sold 39,314 shares of Godaddy stock in a transaction dated Wednesday, December 6th. The stock was sold at an average price of $47.09, for a total transaction of $1,851,296.26. Following the completion of the sale, the insider now owns 28,613 shares in the company, valued at approximately $1,347,386.17. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Barbara J. Rechterman sold 35,000 shares of Godaddy stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $52.97, for a total value of $1,853,950.00. Following the sale, the insider now owns 46,113 shares of the company’s stock, valued at approximately $2,442,605.61. The disclosure for this sale can be found here. Insiders have sold a total of 7,828,121 shares of company stock valued at $370,691,193 in the last ninety days. Corporate insiders own 22.68% of the company’s stock.
A number of institutional investors have recently bought and sold shares of GDDY. Bank of New York Mellon Corp grew its holdings in Godaddy by 48.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 362,619 shares of the technology company’s stock valued at $15,777,000 after buying an additional 118,109 shares during the period. Rhumbline Advisers grew its holdings in Godaddy by 33.7% in the 3rd quarter. Rhumbline Advisers now owns 114,233 shares of the technology company’s stock valued at $4,970,000 after buying an additional 28,774 shares during the period. Symmetry Peak Management LLC purchased a new stake in Godaddy in the 2nd quarter valued at about $848,000. Vanguard Group Inc. grew its holdings in Godaddy by 26.8% in the 2nd quarter. Vanguard Group Inc. now owns 7,553,811 shares of the technology company’s stock valued at $320,434,000 after buying an additional 1,598,137 shares during the period. Finally, Capital International Investors grew its holdings in Godaddy by 628.1% in the 3rd quarter. Capital International Investors now owns 3,715,574 shares of the technology company’s stock valued at $161,665,000 after buying an additional 3,205,274 shares during the period. Hedge funds and other institutional investors own 84.70% of the company’s stock.
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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.
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