Citigroup Downgrades Godaddy Inc to Neutral

Brokerage firm Citigroup Downgrades its rating on Godaddy Inc(NYSE:GDDY). The shares have been rated Neutral. Previously, the analysts had a Buy rating on the shares. The rating by Citigroup was issued on Jun 7, 2016.

In a different note, On May 5, 2016, Morgan Stanley said it Maintains its rating on Godaddy Inc. In the research note, the firm Raises the price-target to $34.00 per share. The shares have been rated ‘Overweight’ by the firm. B. RIley said it Initiates Coverage on Godaddy Inc, according to a research note issued on Apr 15, 2016. The shares have been rated ‘Neutral’ by the firm. Singular Research said it Initiates Coverage on Godaddy Inc, according to a research note issued on Apr 5, 2016. The shares have been rated ‘Sell’ by the firm.

Godaddy Inc (GDDY) shares turned negative on Fridays trading session with the shares closing down -0.29 points or -0.91% at a volume of 4,75,634. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $31.86. The peak price level was also seen at $31.86 while the days lowest was $31.23. Finally the shares closed at $31.66. The 52-week high of the shares is $35.35 while the 52-week low is $21.04. According to the latest information available, the market cap of the company is $5,084 M.

Godaddy Inc(GDDY) last announced its earnings results on May 4, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $433.70M. Analysts had an estimated revenue of $430.62M. Earnings per share were $-0.15. Analysts had estimated an EPS of $-0.18.

Several Insider Transactions has been reported to the SEC. On Jun 2, 2016, Scott Wagner (CFO and COO) sold 8,000 shares at $32.53 per share price.Also, On May 27, 2016, Auguste Goldman (Chief People Officer) sold 5,000 shares at $32.00 per share price.On May 27, 2016, Nima Kelly (EVP – General Counsel) sold 10,000 shares at $32.00 per share price, according to the Form-4 filing with the securities and exchange commission.

GoDaddy Inc. operates a Web domain marketplace The Company is a technology provider to small businesses Web design professionals and individuals delivering cloud-based products and outcome-driven personalized Customer Care. The Company operates domain marketplace where its customers can find that piece of digital real estate that matches their idea. The Company provides Website building hosting and security tools to help customers construct and protect their online presence and tackle the changing technology landscape. It also provides applications that help them connect to its customers manage and grow their businesses and get found online. It has designed and developed a set of cloud-based technology products that enable its customers to establish a digital presence connect with their customers and manage their business operations. The Company’s products include domain hosting and presence and business applications.

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