Godaddy (GDDY) Rating Increased to Buy at Citigroup
Godaddy (NYSE:GDDY) was upgraded by analysts at Citigroup from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Thursday, MarketBeat.com reports.
GDDY has been the topic of several other reports. TheStreet upgraded Godaddy from a “c+” rating to a “b-” rating in a report on Friday, August 24th. SunTrust Banks raised their target price on Godaddy to $87.00 and gave the company a “buy” rating in a report on Monday, July 30th. Zacks Investment Research upgraded Godaddy from a “hold” rating to a “buy” rating and set a $88.00 target price on the stock in a report on Wednesday, July 25th. ValuEngine downgraded Godaddy from a “strong-buy” rating to a “buy” rating in a report on Thursday. Finally, JPMorgan Chase & Co. raised their target price on Godaddy to $80.00 and gave the company a “neutral” rating in a report on Friday, August 3rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $77.60.
Godaddy stock opened at $75.44 on Thursday. The stock has a market capitalization of $14.37 billion, a PE ratio of 179.62, a PEG ratio of 8.93 and a beta of 0.63. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 3.56. Godaddy has a 12 month low of $43.40 and a 12 month high of $84.97.
In other Godaddy news, EVP Nima Kelly sold 661 shares of the firm’s stock in a transaction that occurred on Monday, September 10th. The stock was sold at an average price of $80.41, for a total transaction of $53,151.01. Following the completion of the sale, the executive vice president now owns 52,075 shares in the company, valued at approximately $4,187,350.75. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder 2006 Fund (Gdg) L.P. Kkr sold 3,500,000 shares of the firm’s stock in a transaction that occurred on Friday, August 17th. The shares were sold at an average price of $75.61, for a total value of $264,635,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,800,557 shares of company stock valued at $590,768,080. 7.63% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. LS Investment Advisors LLC acquired a new stake in Godaddy during the 2nd quarter valued at approximately $138,000. Livforsakringsbolaget Skandia Omsesidigt acquired a new position in shares of Godaddy in the 2nd quarter worth approximately $169,000. Itau Unibanco Holding S.A. acquired a new position in shares of Godaddy in the 2nd quarter worth approximately $189,000. Redpoint Investment Management Pty Ltd acquired a new position in shares of Godaddy in the 2nd quarter worth approximately $221,000. Finally, First Republic Investment Management Inc. acquired a new position in shares of Godaddy in the 2nd quarter worth approximately $229,000. Hedge funds and other institutional investors own 93.61% of the company’s stock.
Godaddy Company Profile
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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