Godaddy (NYSE:GDDY) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday.
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.”
Other research analysts have also issued research reports about the company. TheStreet upgraded Godaddy from a “c-” rating to a “b-” rating in a research report on Tuesday, November 7th. Oppenheimer reiterated a “buy” rating and issued a $53.00 target price (up previously from $50.00) on shares of Godaddy in a research report on Tuesday, November 7th. Stifel Nicolaus lifted their target price on Godaddy from $41.00 to $44.00 and gave the stock a “hold” rating in a research report on Tuesday, November 7th. Jefferies Group lifted their target price on Godaddy from $55.00 to $58.00 and gave the stock a “buy” rating in a research report on Tuesday, November 7th. Finally, B. Riley reiterated a “buy” rating and issued a $53.00 target price on shares of Godaddy in a research report on Tuesday, November 7th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $50.43.
Godaddy (NYSE:GDDY) last issued its earnings results on Monday, November 6th. The technology company reported $0.07 EPS for the quarter, hitting the consensus estimate of $0.07. Godaddy had a return on equity of 7.89% and a net margin of 2.34%. research analysts expect that Godaddy will post 0.27 earnings per share for the current year.
In other Godaddy news, SVP Auguste Goldman sold 8,000 shares of Godaddy stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $48.62, for a total transaction of $388,960.00. Following the sale, the senior vice president now owns 13,491 shares of the company’s stock, valued at approximately $655,932.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Barbara J. Rechterman sold 35,000 shares of Godaddy stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $50.85, for a total value of $1,779,750.00. Following the sale, the insider now directly owns 46,113 shares in the company, valued at approximately $2,344,846.05. The disclosure for this sale can be found here. Insiders have sold a total of 7,852,345 shares of company stock valued at $371,099,712 in the last 90 days. Insiders own 22.68% of the company’s stock.
A number of institutional investors have recently made changes to their positions in GDDY. SG Americas Securities LLC bought a new stake in Godaddy during the 2nd quarter valued at $118,000. Public Employees Retirement Association of Colorado raised its stake in Godaddy by 49.3% during the 3rd quarter. Public Employees Retirement Association of Colorado now owns 3,675 shares of the technology company’s stock valued at $160,000 after acquiring an additional 1,213 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in 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 in the last quarter. Koch Industries Inc. bought a new stake in Godaddy during the 2nd quarter valued at $248,000. Finally, Comerica Bank bought a new stake in Godaddy during the 3rd quarter valued at $267,000. 84.43% of the stock is currently owned by hedge funds and other institutional investors.
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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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