Godaddy (GDDY) Cut to “C+” at TheStreet

Godaddy (NYSE:GDDY) was downgraded by TheStreet from a “b-” rating to a “c+” rating in a note issued to investors on Monday, October 29th.

Several other research analysts also recently commented on GDDY. Piper Jaffray Companies reissued an “overweight” rating and set a $90.00 price target on shares of Godaddy in a research note on Friday, July 20th. Zacks Investment Research downgraded shares of Godaddy from a “buy” rating to a “hold” rating in a research note on Monday, August 13th. JPMorgan Chase & Co. lifted their price target on shares of Godaddy to $80.00 and gave the stock a “neutral” rating in a research note on Friday, August 3rd. SunTrust Banks lifted their price target on shares of Godaddy to $87.00 and gave the stock a “buy” rating in a research note on Monday, July 30th. Finally, Morgan Stanley lifted their price target on shares of Godaddy from $72.00 to $81.00 and gave the stock an “overweight” rating in a research note on Monday, August 6th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and thirteen have issued a buy rating to the company’s stock. Godaddy currently has a consensus rating of “Buy” and an average target price of $77.87.

GDDY traded up $0.43 on Monday, reaching $60.53. The company had a trading volume of 1,428,750 shares, compared to its average volume of 2,074,399. The company has a market capitalization of $10.43 billion, a P/E ratio of 144.12, a P/E/G ratio of 10.29 and a beta of 0.84. The company has a debt-to-equity ratio of 3.29, a current ratio of 0.71 and a quick ratio of 0.71. Godaddy has a 52-week low of $45.87 and a 52-week high of $84.97.

Godaddy (NYSE:GDDY) last announced its earnings results on Tuesday, November 6th. The technology company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.10). The company had revenue of $679.50 million during the quarter, compared to analysts’ expectations of $673.79 million. Godaddy had a net margin of 4.96% and a return on equity of 8.01%. The company’s revenue for the quarter was up 16.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.17 earnings per share. On average, equities analysts anticipate that Godaddy will post 0.34 earnings per share for the current year.

In related news, EVP Arne Josefsberg sold 33,803 shares of Godaddy stock in a transaction on Tuesday, October 23rd. The shares were sold at an average price of $73.45, for a total value of $2,482,830.35. Following the transaction, the executive vice president now directly owns 33,348 shares of the company’s stock, valued at $2,449,410.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Raymond E. Winborne, Jr. sold 75,000 shares of Godaddy stock in a transaction on Monday, August 27th. The stock was sold at an average price of $78.33, for a total transaction of $5,874,750.00. Following the completion of the transaction, the chief financial officer now directly owns 101,831 shares in the company, valued at $7,976,422.23. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 242,119 shares of company stock worth $18,980,995. 7.63% of the stock is owned by insiders.

Large investors have recently added to or reduced their stakes in the stock. LS Investment Advisors LLC bought a new stake in Godaddy in the second quarter valued at $138,000. O Shaughnessy Asset Management LLC bought a new stake in Godaddy in the third quarter valued at $150,000. Korea Investment CORP bought a new stake in Godaddy in the third quarter valued at $153,000. Livforsakringsbolaget Skandia Omsesidigt bought a new stake in Godaddy in the second quarter valued at $169,000. Finally, Itau Unibanco Holding S.A. bought a new stake in Godaddy in the second quarter valued at $189,000. Institutional investors and hedge funds own 94.29% of the company’s stock.

About Godaddy

GoDaddy Inc designs and develops cloud-based technology products for small businesses, Web design professionals, and individuals in the United States and internationally. It provides domain name registration product that enables to engage customers at the initial stage of establishing a digital identity; hosting products, such as shared Website hosting, Website hosting on virtual private servers and virtual dedicated servers, managed hosting, and security.

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