Analyst Upgrades: GoDaddy Inc, eBay Inc, and ARM Holdings plc

Analysts upwardly revised their ratings on GoDaddy Inc (GDDY), eBay Inc (EBAY), and ARM Holdings plc (ADR) (ARMH)

Oct 22, 2015 at 9:20 AM
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Analysts are weighing in on Web domain marketplace GoDaddy Inc (NYSE:GDDY), e-tailer eBay Inc (NASDAQ:EBAY), and microprocessor maker ARM Holdings plc (ADR) (NASDAQ:ARMH). Here's a quick roundup of today's bullish brokerage notes on GDDY, EBAY, and ARMH.

  • UBS initiated coverage on GDDY with a "buy" rating, sending the stock 1.1% higher pre-market. In recent weeks, the shares have been churning in the $26-$28 range, settling Wednesday at $26.86. Meanwhile, sentiment is split on Wall Street. On the one hand, 90% of analysts have handed out a "buy" or better endorsement on GoDaddy Inc, with not a single "sell" to be found. On the other, over 64% of the stock's float is sold short, representing about eight days of trading activity, given typical volumes.
  • EBAY reported better-than-expected third-quarter earnings last night, even after its high-profile spin-off of Paypal Holdings Inc (NASDAQ:PYPL). The news is being met with enthusiasm, as no fewer than six brokerages upped their price targets -- outweighing price-target cuts at Mizuho Securities, J.P. Morgan Securities, and BTIG. As such, eBay Inc has tacked on a bigger-than-expected 7% ahead of the bell, looking to add to its slim 2.5% year-to-date lead, as of last night's close at $24.21. Option bears may be on pins and needles given these developments. eBay sports a 50-day put/call volume ratio of 0.66 across the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), which ranks in the 84th percentile of its annual range.
  • ARMH saw its price target upped overnight to $44 from $39.50 at J.P. Morgan Securities. This bullishness is typical of the brokerage crowd, which has handed out 13 "buy" or better ratings versus three "hold" or worse recommendations. Plus, ARM Holdings plc's average 12-month price target of $56.05 stands at a 20% premium to last night's close at $46.83, and in never-before-seen territory. Technically speaking, the stock gapped above its year-to-date flatline yesterday after the company reported a third-quarter revenue beat (and in-line earnings), and settled above its 100-day moving average for the first time since late June.
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