Today, B. Riley Reaffirmed Neutral Rating for GoDaddy Inc. (GDDY)

Today, B. Riley Reaffirmed Neutral Rating for GoDaddy Inc. (GDDY)

GoDaddy Inc. (NYSE:GDDY)‘s stock had its “neutral” rating reiterated by stock analysts at B. Riley in a research report issued on Tuesday. They currently have a $33.50 price target on the stock. B. Riley’s target price would indicate a potential downside of 9.02% from the stock’s previous close.

GDDY has been the topic of several other research reports. Summit Redstone began coverage on GoDaddy in a research note on Monday, October 3rd. They issued a “buy” rating and a $41.00 price target on the stock. Zacks Investment Research lowered GoDaddy from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 4th. Piper Jaffray Cos. set a $40.00 price objective on GoDaddy and gave the stock a “buy” rating in a research report on Monday, September 19th. RBC Capital Markets restated an “outperform” rating and set a $38.00 price objective (up previously from $37.00) on shares of GoDaddy in a research report on Thursday, August 4th. Finally, Royal Bank Of Canada boosted their price objective on GoDaddy from $37.00 to $38.00 and gave the stock an “outperform” rating in a research report on Thursday, August 4th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $40.00.

GoDaddy (NYSE:GDDY) traded up 1.02% during trading on Tuesday, reaching $36.82. The company’s stock had a trading volume of 304,480 shares. GoDaddy has a 52-week low of $23.88 and a 52-week high of $36.98. The stock’s market cap is $3.22 billion. The firm has a 50 day moving average price of $34.99 and a 200-day moving average price of $32.71.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings results on Wednesday, November 2nd. The company reported $0.05 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.02. GoDaddy had a negative return on equity of 2.14% and a negative net margin of 0.81%. The company had revenue of $472.10 million for the quarter, compared to analyst estimates of $470.07 million. During the same quarter last year, the company posted ($0.04) EPS. The company’s revenue for the quarter was up 14.8% compared to the same quarter last year. On average, analysts expect that GoDaddy will post ($0.04) earnings per share for the current year.

In other news, COO Scott Wagner sold 8,000 shares of the business’s stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $32.50, for a total value of $260,000.00. Following the transaction, the chief operating officer now directly owns 9,309 shares of the company’s stock, valued at approximately $302,542.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Blake Irving sold 37,500 shares of the business’s stock in a transaction dated Tuesday, September 13th. The shares were sold at an average price of $32.14, for a total value of $1,205,250.00. Following the completion of the transaction, the chief executive officer now directly owns 39,003 shares in the company, valued at $1,253,556.42. The disclosure for this sale can be found here. 25.70% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Acrospire Investment Management LLC increased its position in GoDaddy by 1,066.7% in the second quarter. Acrospire Investment Management LLC now owns 3,500 shares of the company’s stock worth $109,000 after buying an additional 3,200 shares during the period. Metropolitan Life Insurance Co. NY increased its position in GoDaddy by 97.9% in the second quarter. Metropolitan Life Insurance Co. NY now owns 3,501 shares of the company’s stock worth $109,000 after buying an additional 1,732 shares during the period. Advisor Group Inc. purchased a new position in GoDaddy during the second quarter worth $113,000. Independent Portfolio Consultants Inc. increased its position in GoDaddy by 12.0% in the second quarter. Independent Portfolio Consultants Inc. now owns 3,965 shares of the company’s stock worth $124,000 after buying an additional 425 shares during the period. Finally, Legal & General Group Plc increased its position in GoDaddy by 8,301.9% in the second quarter. Legal & General Group Plc now owns 4,537 shares of the company’s stock worth $141,000 after buying an additional 4,483 shares during the period.

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