GoDaddy Inc. (GDDY) Receives New Coverage from Analysts at William Blair

William Blair started coverage on shares of GoDaddy Inc. (NYSE:GDDY) in a research note issued to investors on Thursday morning, MarketBeat reports. The brokerage issued an outperform rating on the technology company’s stock.

GDDY has been the subject of several other research reports. Zacks Investment Research cut GoDaddy from a hold rating to a sell rating in a research note on Thursday, July 6th. Deutsche Bank AG upped their price target on GoDaddy from $48.00 to $51.00 and gave the stock a buy rating in a research note on Monday, August 14th. Jefferies Group LLC restated a buy rating and set a $55.00 price target on shares of GoDaddy in a research note on Wednesday, September 20th. B. Riley restated a buy rating and set a $53.00 price target on shares of GoDaddy in a research note on Monday, July 24th. Finally, Royal Bank Of Canada restated an outperform rating on shares of GoDaddy in a research note on Saturday, August 26th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have issued a buy rating to the company. The company has a consensus rating of Buy and a consensus price target of $47.46.

GoDaddy (NYSE GDDY) opened at 44.22 on Thursday. The stock has a market capitalization of $4.92 billion, a price-to-earnings ratio of 348.19 and a beta of 0.62. The stock’s 50 day moving average is $43.85 and its 200 day moving average is $43.85. GoDaddy has a 12-month low of $31.63 and a 12-month high of $45.37.

GoDaddy (NYSE:GDDY) last released its quarterly earnings results on Tuesday, August 8th. The technology company reported $0.13 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.10. GoDaddy had a return on equity of 6.05% and a net margin of 1.21%. The business had revenue of $557.80 million during the quarter, compared to analysts’ expectations of $551.26 million. During the same quarter in the prior year, the business earned ($0.11) earnings per share. The company’s quarterly revenue was up 22.3% compared to the same quarter last year. Equities research analysts forecast that GoDaddy will post $0.30 EPS for the current fiscal year.

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In other news, major shareholder Lake Group L.L.C. Silver sold 5,773,272 shares of the firm’s stock in a transaction on Friday, September 8th. The stock was sold at an average price of $43.71, for a total value of $252,349,719.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Blake Irving sold 37,500 shares of the firm’s stock in a transaction on Tuesday, July 11th. The shares were sold at an average price of $42.23, for a total value of $1,583,625.00. Following the completion of the transaction, the chief executive officer now owns 40,606 shares of the company’s stock, valued at approximately $1,714,791.38. The disclosure for this sale can be found here. Insiders sold 12,341,448 shares of company stock valued at $538,948,902 in the last quarter. 22.68% of the stock is currently owned by company insiders.

Hedge funds have recently made changes to their positions in the company. Public Employees Retirement Association of Colorado increased its position in shares of GoDaddy by 66.8% in the second quarter. Public Employees Retirement Association of Colorado now owns 2,462 shares of the technology company’s stock valued at $104,000 after buying an additional 986 shares in the last quarter. Parallel Advisors LLC increased its position in shares of GoDaddy by 10.1% in the first quarter. Parallel Advisors LLC now owns 2,721 shares of the technology company’s stock valued at $105,000 after buying an additional 250 shares in the last quarter. BNP Paribas Arbitrage SA increased its position in shares of GoDaddy by 215.1% in the first quarter. BNP Paribas Arbitrage SA now owns 2,770 shares of the technology company’s stock valued at $105,000 after buying an additional 1,891 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of GoDaddy in the second quarter valued at $118,000. Finally, Sei Investments Co. increased its position in shares of GoDaddy by 160.4% in the second quarter. Sei Investments Co. now owns 3,706 shares of the technology company’s stock valued at $158,

GDDY has been the subject of several other research reports. Zacks Investment Research cut GoDaddy from a hold rating to a sell rating in a research note on Thursday, July 6th. Deutsche Bank AG upped their price target on GoDaddy from $48.00 to $51.00 and gave the stock a buy rating in a research note on Monday, August 14th. Jefferies Group LLC restated a buy rating and set a $55.00 price target on shares of GoDaddy in a research note on Wednesday, September 20th. B. Riley restated a buy rating and set a $53.00 price target on shares of GoDaddy in a research note on Monday, July 24th. Finally, Royal Bank Of Canada restated an outperform rating on shares of GoDaddy in a research note on Saturday, August 26th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have issued a buy rating to the company. The company has a consensus rating of Buy and a consensus price target of $47.46.

GoDaddy (NYSE GDDY) opened at 44.22 on Thursday. The stock has a market capitalization of $4.92 billion, a price-to-earnings ratio of 348.19 and a beta of 0.62. The stock’s 50 day moving average is $43.85 and its 200 day moving average is $43.85. GoDaddy has a 12-month low of $31.63 and a 12-month high of $45.37.

GoDaddy (NYSE:GDDY) last released its quarterly earnings results on Tuesday, August 8th. The technology company reported $0.13 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.10. GoDaddy had a return on equity of 6.05% and a net margin of 1.21%. The business had revenue of $557.80 million during the quarter, compared to analysts’ expectations of $551.26 million. During the same quarter in the prior year, the business earned ($0.11) earnings per share. The company’s quarterly revenue was up 22.3% compared to the same quarter last year. Equities research analysts forecast that GoDaddy will post $0.30 EPS for the current fiscal year.

TRADEMARK VIOLATION WARNING: This piece was originally posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are viewing this piece on another domain, it was stolen and republished in violation of United States & international trademark & copyright law. The correct version of this piece can be accessed at https://ledgergazette.com/2017/10/09/godaddy-inc-gddy-receives-new-coverage-from-analysts-at-william-blair.html.

In other news, major shareholder Lake Group L.L.C. Silver sold 5,773,272 shares of the firm’s stock in a transaction on Friday, September 8th. The stock was sold at an average price of $43.71, for a total value of $252,349,719.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Blake Irving sold 37,500 shares of the firm’s stock in a transaction on Tuesday, July 11th. The shares were sold at an average price of $42.23, for a total value of $1,583,625.00. Following the completion of the transaction, the chief executive officer now owns 40,606 shares of the company’s stock, valued at approximately $1,714,791.38. The disclosure for this sale can be found here. Insiders sold 12,341,448 shares of company stock valued at $538,948,902 in the last quarter. 22.68% of the stock is currently owned by company insiders.

Hedge funds have recently made changes to their positions in the company. Public Employees Retirement Association of Colorado increased its position in shares of GoDaddy by 66.8% in the second quarter. Public Employees Retirement Association of Colorado now owns 2,462 shares of the technology company’s stock valued at $104,000 after buying an additional 986 shares in the last quarter. Parallel Advisors LLC increased its position in shares of GoDaddy by 10.1% in the first quarter. Parallel Advisors LLC now owns 2,721 shares of the technology company’s stock valued at $105,000 after buying an additional 250 shares in the last quarter. BNP Paribas Arbitrage SA increased its position in shares of GoDaddy by 215.1% in the first quarter. BNP Paribas Arbitrage SA now owns 2,770 shares of the technology company’s stock valued at $105,000 after buying an additional 1,891 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of GoDaddy in the second quarter valued at $118,000. Finally, Sei Investments Co. increased its position in shares of GoDaddy by 160.4% in the second quarter. Sei Investments Co. now owns 3,706 shares of the technology company’s stock valued at $158,000 after buying an additional 2,283 shares in the last quarter. Institutional investors and hedge funds own 77.95% of the company’s stock.

About GoDaddy

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.

Analyst Recommendations for GoDaddy (NYSE:GDDY)

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