Godaddy Inc (NYSE:GDDY) – Stock analysts at B. Riley upped their FY2017 EPS estimates for Godaddy in a research report issued to clients and investors on Wednesday. B. Riley analyst S. Sinha now anticipates that the technology company will earn $0.35 per share for the year, up from their previous forecast of $0.33. B. Riley has a “Buy” rating and a $53.00 price target on the stock. B. Riley also issued estimates for Godaddy’s Q4 2017 earnings at $0.09 EPS.
Godaddy (NYSE:GDDY) last issued its earnings results on Thursday, February 22nd. The technology company reported $0.54 EPS for the quarter, beating the Zacks’ consensus estimate of $0.10 by $0.44. Godaddy had a net margin of 2.34% and a return on equity of 7.89%. The business had revenue of $602.20 million for the quarter, compared to the consensus estimate of $594.60 million. During the same quarter last year, the firm posted $0.02 EPS. The business’s revenue for the quarter was up 23.9% compared to the same quarter last year.
GDDY has been the topic of a number of other research reports. Royal Bank of Canada reissued a “buy” rating and issued a $53.00 target price on shares of Godaddy in a research note on Wednesday, November 22nd. Piper Jaffray Companies raised their target price on shares of Godaddy from $53.00 to $60.00 and gave the company an “overweight” rating in a research note on Monday, November 13th. Morgan Stanley raised their target price on shares of Godaddy from $56.00 to $59.00 and gave the company an “overweight” rating in a research note on Tuesday, January 30th. Oppenheimer reissued a “buy” rating on shares of Godaddy in a research note on Monday, November 20th. Finally, Wedbush started coverage on shares of Godaddy in a research note on Friday, December 8th. They issued a “neutral” rating and a $52.00 target price on the stock. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Godaddy presently has an average rating of “Buy” and an average target price of $52.86.
Godaddy (GDDY) opened at $55.43 on Thursday. Godaddy has a one year low of $35.72 and a one year high of $56.86. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 5.15. The company has a market cap of $9,220.00 and a price-to-earnings ratio of 426.38.
A number of institutional investors have recently added to or reduced their stakes in GDDY. Technology Crossover Management VII Ltd. grew its holdings in Godaddy by 263.1% during the 4th quarter. Technology Crossover Management VII Ltd. now owns 25,790,717 shares of the technology company’s stock worth $1,296,757,000 after acquiring an additional 18,688,095 shares in the last quarter. BlackRock Inc. grew its holdings in Godaddy by 15.0% during the 4th quarter. BlackRock Inc. now owns 5,029,012 shares of the technology company’s stock worth $252,860,000 after acquiring an additional 654,239 shares in the last quarter. Capital International Investors grew its holdings in Godaddy by 628.1% during the 3rd quarter. Capital International Investors now owns 3,715,574 shares of the technology company’s stock worth $161,665,000 after acquiring an additional 3,205,274 shares in the last quarter. Renaissance Technologies LLC grew its holdings in Godaddy by 26.1% during the 4th quarter. Renaissance Technologies LLC now owns 2,992,900 shares of the technology company’s stock worth $150,483,000 after acquiring an additional 619,500 shares in the last quarter. Finally, First Trust Advisors LP grew its holdings in Godaddy by 5.2% during the 4th quarter. First Trust Advisors LP now owns 2,770,644 shares of the technology company’s stock worth $139,308,000 after acquiring an additional 136,115 shares in the last quarter. 84.84% of the stock is currently owned by hedge funds and other institutional investors.
In related news, insider Barbara J. Rechterman sold 35,000 shares of Godaddy stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $49.83, for a total transaction of $1,744,050.00. Following the sale, the insider now owns 50,427 shares of the company’s stock, valued at approximately $2,512,777.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Scott Wagner sold 125,000 shares of Godaddy stock in a transaction on Thursday, December 7th. The stock was sold at an average price of $47.12, for a total transaction of $5,890,000.00. Following the sale, the chief operating officer now directly owns 128,106 shares in the company, valued at approximately $6,036,354.72. The disclosure for this sale can be found here. Insiders have sold a total of 7,789,449 shares of company stock worth $369,320,793 in the last ninety days. 22.68% of the stock is currently owned by insiders.
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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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