GoDaddy Inc. (GDDY) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of GoDaddy Inc. (NYSE:GDDY) from a sell rating to a hold rating in a research note published on Thursday morning.

According to Zacks, “GoDaddy is a website host and Internet domain registrar. The company  reported strong third-quarter revenues driven by growth in customers, new products and contribution from HEG acquisition. 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. However, significant competition, heavy debt burden along with controversies surrounding the company will pose major challenges. Over the last one year, the stock has outperformed the industry it belongs to.”

Several other analysts have also recently issued reports on GDDY. B. Riley reiterated a buy rating and issued a $53.00 price objective on shares of GoDaddy in a research note on Wednesday, August 9th. TheStreet upgraded GoDaddy from a c- rating to a b- rating in a research note on Tuesday, November 7th. Oppenheimer Holdings, Inc. increased their price objective on GoDaddy from $47.00 to $50.00 and gave the company an outperform rating in a research note on Thursday, August 10th. Royal Bank Of Canada increased their price objective on GoDaddy from $47.00 to $53.00 and gave the company an outperform rating in a research note on Tuesday, November 7th. Finally, Stifel Nicolaus increased their price objective on GoDaddy from $41.00 to $44.00 and gave the company a hold rating in a research note on Tuesday, November 7th. Four equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of Buy and an average price target of $48.62.

Shares of GoDaddy (NYSE GDDY) traded up $0.17 during midday trading on Thursday, hitting $48.15. The stock had a trading volume of 1,617,500 shares, compared to its average volume of 1,501,674. The firm has a market capitalization of $7,934.78, a PE ratio of 155.32, a P/E/G ratio of 8.46 and a beta of 0.64. The company has a debt-to-equity ratio of 5.15, a quick ratio of 0.69 and a current ratio of 0.57. GoDaddy has a twelve month low of $32.00 and a twelve month high of $49.36.

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In other GoDaddy news, insider Auguste Goldman sold 1,000 shares of the firm’s stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $43.73, for a total transaction of $43,730.00. Following the transaction, the insider now owns 6,491 shares of the company’s stock, valued at $283,851.43. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Blake Irving sold 37,500 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $43.64, for a total value of $1,636,500.00. Following the transaction, the chief executive officer now directly owns 40,606 shares in the company, valued at approximately $1,772,045.84. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 12,268,964 shares of company stock worth $536,522,144. Corporate insiders own 22.68% of the company’s stock.

Several hedge funds have recently modified their holdings of the business. Aperio Group LLC grew its holdings in shares of GoDaddy by 5.6% during the second quarter. Aperio Group LLC now owns 6,993 shares of the technology company’s stock worth $297,000 after purchasing an additional 373 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of GoDaddy by 7.8% during the second quarter. The Manufacturers Life Insurance Company now owns 5,476 shares of the technology company’s stock worth $232,000 after buying an additional 397 shares during the last quarter. Symphony Asset Management LLC grew its holdings in shares of GoDaddy by 4.0% during the second quarter. Symphony Asset Management LLC now owns 13,044 shares of the technology company’s stock worth $553,000 after buying an additional 501 shares during the last quarter. Oppenheimer Asset Management Inc. grew its holdings in shares of GoDaddy by 6.7% during the second quarter. Oppenheimer Asset Management Inc. now owns 11,620 shares of the technology company’s stock worth $493,000 after buying an additional 728 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado grew its holdings in shares of GoDaddy by 66.8% during the second quarter. Public Employees Retirement Association of Colorado now owns 2,462 shares of the technology company’s stock worth $104,000 after buying an additional 986 shares during the last quarter. 78.82% of the stock is currently owned by institutional investors.

GoDaddy Company Profile

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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