Godaddy (NYSE:GDDY) posted its earnings results on Thursday. The technology company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.04), Morningstar.com reports. Godaddy had a net margin of 1.98% and a return on equity of 11.89%. The firm had revenue of $737.20 million during the quarter, compared to the consensus estimate of $735.40 million. During the same period in the prior year, the company posted $0.11 EPS. The firm’s revenue was up 13.1% compared to the same quarter last year. Godaddy updated its Q3 2019 guidance to EPS and its FY 2019 guidance to EPS.
Shares of NYSE GDDY traded down $3.81 during trading on Friday, hitting $70.42. The company had a trading volume of 6,775,206 shares, compared to its average volume of 1,380,133. The company has a 50 day simple moving average of $72.18. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 2.72. Godaddy has a 12 month low of $56.67 and a 12 month high of $84.97. The company has a market capitalization of $13.16 billion, a price-to-earnings ratio of 111.78, a P/E/G ratio of 5.98 and a beta of 0.63.
GDDY has been the topic of a number of recent research reports. TheStreet downgraded Godaddy from a “b” rating to a “c” rating in a report on Tuesday, May 21st. SunTrust Banks reissued a “buy” rating and issued a $90.00 target price on shares of Godaddy in a report on Thursday. Morgan Stanley set a $95.00 target price on Godaddy and gave the company a “buy” rating in a report on Friday, May 3rd. Raymond James lowered their target price on Godaddy from $86.00 to $85.00 and set an “outperform” rating on the stock in a report on Friday. Finally, ValuEngine downgraded Godaddy from a “buy” rating to a “hold” rating in a research note on Thursday. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Godaddy has a consensus rating of “Buy” and a consensus price target of $88.89.
In other news, insider Nima Kelly sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $78.87, for a total value of $157,740.00. Following the transaction, the insider now owns 120,451 shares of the company’s stock, valued at $9,499,970.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Brian Sharples sold 801 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $73.63, for a total value of $58,977.63. Following the completion of the transaction, the director now directly owns 12,981 shares in the company, valued at approximately $955,791.03. The disclosure for this sale can be found here. Insiders sold 80,841 shares of company stock worth $5,842,100 in the last ninety days. Corporate insiders own 12.64% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. raised its stake in Godaddy by 15.7% during the 1st quarter. BlackRock Inc. now owns 11,596,746 shares of the technology company’s stock valued at $871,958,000 after purchasing an additional 1,576,019 shares during the period. Janus Henderson Group PLC raised its stake in Godaddy by 5.5% during the 2nd quarter. Janus Henderson Group PLC now owns 8,369,171 shares of the technology company’s stock valued at $587,096,000 after purchasing an additional 436,616 shares during the period. FMR LLC raised its stake in Godaddy by 32.6% during the 1st quarter. FMR LLC now owns 8,332,155 shares of the technology company’s stock valued at $626,495,000 after purchasing an additional 2,046,952 shares during the period. Federated Investors Inc. PA raised its stake in Godaddy by 15.3% during the 1st quarter. Federated Investors Inc. PA now owns 2,064,691 shares of the technology company’s stock valued at $155,244,000 after purchasing an additional 273,702 shares during the period. Finally, Geode Capital Management LLC raised its stake in Godaddy by 3.9% during the 4th quarter. Geode Capital Management LLC now owns 1,760,737 shares of the technology company’s stock valued at $115,466,000 after purchasing an additional 66,412 shares during the period. 97.54% of the stock is currently owned by institutional investors.
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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