Home Investment report Zacks Investment Research downgrades GoDaddy (NYSE: GDDY) to sell it

Zacks Investment Research downgrades GoDaddy (NYSE: GDDY) to sell it

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GoDaddy (NYSE: GDDY) Downgrade by Zacks Investment Research From the “buy” rating to the “sell” rating in the survey report released on Friday Zacks.com Report. They currently have a price target of $ 77.00 for stocks of technology companies. Zacks Investment ResearchPrice’s target suggests a potential increase of 8.30% from the company’s previous closing price.

According to Zacks, “GoDaddy reported second quarter results and revenue and revenue increased year over year. Revenue growth was driven by strong demand for products across all segments. GoDaddy Payments, GoDaddy The introduction of new products such as Studios and Job Postings features has remained a tailwind: increased website + marketing subscriptions, WordPress management services, international expansion, strong feature engagement, updates and Strong registrations, GoDaddy registry expansion, and GoCentral’s strengths continue to be important catalysts, and we also benefit from the expanded partnership. In particular, the uncertainties linked to the stock coronavirus pandemic remain of concern. High costs are an obstacle and the company’s heavy debt remains a risk. “

Several other stock analysts also commented on the company. Evercore ISI began covering GoDaddy in a research note on Tuesday, April 13. They announced an “online” valuation and a stock price target of $ 87.00. JMP Securities lowered GoDaddy’s price target from $ 108.00 to $ 100.00 and set an “outperforming” valuation for its shares in its report Thursday. Raymond James raised GoDaddy’s target price from $ 107.00 to $ 108.00, giving the company a “strong buy” rating in a Thursday report. Morgan Stanley undertook coverage of GoDaddy in a report on Monday, July 19. They issued an “equal weight” valuation and a target stock price of $ 95.00. Finally, Berkeley raised GoDaddy’s target price from $ 107.00 to $ 115.00, giving the company an “overweight” rating in a Monday, June 28 report. One research analyst rated the stock on a sell valuation, four gave a pending valuation, eight gave a buy valuation, and one gave the stock a solid buy valuation. The stock’s average rating is “buy” and the consensus price target is $ 97.47.

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Share NYSE: GDDY It fell $ 2.02 in Friday’s session to hit $ 71.10. The trading volume for this stock was 24,228, compared to an average of 1,233,563. The 50-day moving average of the stocks is $ 84.57. The company has a market cap of $ 11.96 billion, a price-to-earnings ratio of -2211, a price-to-earnings ratio of 2.05, and a beta of 0.99. GoDaddy has a minimum annual price of $ 68.66 and a maximum annual price of $ 93.75.

GoDaddy (NYSE: GDDY) announced its quarterly financial results on Wednesday, August 4. Tech companies reported quarterly earnings per share (EPS) of $ 0.27, which is lower than Sachs’ consensus estimate of $ 0.30 ($ 0.03). Revenue for the quarter was $ 931.3 million, compared to $ 926.26 million estimated by analysts. GoDaddy had a return on equity of 142.59% and a net return of 15.39%. The company’s revenue grew 15.5% year-over-year. During the same period of the previous year, the company achieved earnings per share ($ 4.06). On average, stock analysts expect GoDaddy to have earnings per share of 1.17 this year.

Meanwhile, CEO Amanpal Singh Bhutani sold 2,980 shares in a trade that took place on Friday July 2. The stock sold for an average price of $ 88.69 and the total trade value was $ 264,296.20. After the transaction closes, the CEO now directly owns 156,094 shares of the company (equivalent to approximately $ 13,843,976.86). The sale was disclosed in a document filed with the SEC. This link .. CAO Nick Daddario also sold 900 shares of the company in a transaction that took place on Thursday, June 17th. The shares were sold at an average price of $ 86.00 and a total price of $ 77,400.00. After the transaction closes, the chief accountant now directly owns 7,882 shares of the company (equivalent to $ 677,852). . Company insiders hold a 0.38% stake in the company.

Recently, many hedge funds and other institutional investors have increased or decreased their holdings. Rockefeller Capital Management LP increased its position in GoDaddy by 176.6% in the first quarter. Rockefeller Capital Management LP owns 390 shares of a technology company valued at $ 30,000 after purchasing an additional 249 shares in the previous quarter. Ellevest Inc. increased its position in GoDaddy by 238.2% in the first quarter. Ellevest Inc. owns 443 shares of a technology company valued at $ 34,000 after purchasing 312 additional shares in the previous quarter. Barrett Asset Management LLC purchased a new GoDaddy position valued at $ 55,000 in the first quarter. Sowell Financial Services LLC increased its position in GoDaddy by 737.7% in the first quarter. Sowell Financial Services LLC owns 1,022 shares of a technology company worth $ 83,000 after purchasing an additional 900 shares in the prior quarter. Finally, Exchange Traded Concepts LLC increased its position in GoDaddy by 54.8% in the second quarter. Exchange Traded Concepts LLC owns 1,214 shares of a technology company valued at $ 106,000 after purchasing 430 additional shares in the prior quarter. 94.98% of the shares are held by hedge funds and other institutional investors.

About GoDaddy

GoDaddy and Inc provide domain name registration and web hosting services. Provides website creation, hosting and security tools. The company was called Robert R in January 1997. Founded by Parsons, its headquarters are located in Scottsdale, Arizona.

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