Is GoDaddy (NYSE:GDDY) Now a ‘Buy’? Why did Citigroup Upgrade The Stock?

October 11, 2018 - By Ash

GoDaddy Inc. (NYSE:GDDY) Logo

GoDaddy (NYSE:GDDY) Stock Upgrade

The previous rating of a “Neutral” for GoDaddy (NYSE:GDDY) has been discontinued as Citigroup increased GDDY’s current rating to a respectable “Buy”.

GoDaddy Inc. (NYSE:GDDY) Ratings Coverage

Among 6 analysts covering GoDaddy (NYSE:GDDY), 5 have Buy rating, 0 Sell and 1 Hold. Therefore 83% are positive. GoDaddy has $85 highest and $72 lowest target. $81.67’s average target is 12.40% above currents $72.66 stock price. GoDaddy had 7 analyst reports since May 7, 2018 according to SRatingsIntel. The firm has “Overweight” rating by Morgan Stanley given on Monday, August 6. The firm has “Buy” rating given on Monday, May 7 by Jefferies. Piper Jaffray maintained GoDaddy Inc. (NYSE:GDDY) rating on Wednesday, May 9. Piper Jaffray has “Buy” rating and $8000 target. Morgan Stanley maintained GoDaddy Inc. (NYSE:GDDY) on Wednesday, May 9 with “Overweight” rating. The firm has “Overweight” rating given on Monday, July 23 by Barclays Capital. JMP Securities maintained it with “Buy” rating and $8400 target in Wednesday, May 16 report.

The stock increased 2.64% or $1.87 during the last trading session, reaching $72.66. About 470,546 shares traded. GoDaddy Inc. (NYSE:GDDY) has risen 89.38% since October 11, 2017 and is uptrending. It has outperformed by 73.76% the S&P500.

Analysts await GoDaddy Inc. (NYSE:GDDY) to report earnings on November, 5. They expect $0.19 earnings per share, up 171.43 % or $0.12 from last year’s $0.07 per share. GDDY’s profit will be $32.75 million for 95.61 P/E if the $0.19 EPS becomes a reality. After $0.11 actual earnings per share reported by GoDaddy Inc. for the previous quarter, Wall Street now forecasts 72.73 % EPS growth.

GoDaddy Inc. designs and develops cloud technology products for small businesses, Web design professionals, and individuals in the United States and internationally. The company has market cap of $12.52 billion. It provides domain name registration product that enables to engage clients at the initial stage of establishing a digital identity; hosting and presence products, such as shared Website hosting, Website hosting on virtual dedicated servers and dedicated servers, managed hosting, and security. It has a 88.5 P/E ratio. The firm also offers Website builder, an online tool that enables clients to build Websites; online store product that allows clients to create their own standalone Website with an integrated online store optimized for mobile shopping; and search engine visibility product that helps clients get their Websites found on search sites through search engine optimization.

More important recent GoDaddy Inc. (NYSE:GDDY) news were published by: Benzinga.com which released: “Benzinga’s Top Upgrades, Downgrades For October 11, 2018” on October 11, 2018, also Seekingalpha.com published article titled: “Citi upgrades GoDaddy after correction”, Bizjournals.com published: “Web.com shareholders decide on $2.24 billion sale” on October 10, 2018. More interesting news about GoDaddy Inc. (NYSE:GDDY) was released by: 247Wallst.com and their article: “Top Analyst Upgrades and Downgrades: Abercrombie, CME, Costco, DowDuPont, Gap, HCA, Herbalife, Merck, PayPal …” with publication date: October 11, 2018.

GoDaddy Inc. (NYSE:GDDY) Ratings Chart

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