Godaddy Inc (GDDY) Receives $84.40 Average Target Price from Brokerages

Shares of Godaddy Inc (NYSE:GDDY) have been given an average rating of “Buy” by the fourteen analysts that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and nine have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $84.40.

GDDY has been the subject of several recent research reports. JPMorgan Chase & Co. increased their target price on shares of Godaddy to $83.00 and gave the company a “neutral” rating in a research note on Thursday, February 21st. TheStreet raised shares of Godaddy from a “c+” rating to a “b” rating in a research note on Thursday, February 21st. Zacks Investment Research lowered shares of Godaddy from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. Piper Jaffray Companies reissued an “overweight” rating and set a $97.00 target price on shares of Godaddy in a research note on Thursday, February 21st. They noted that the move was a valuation call. Finally, Barclays increased their target price on shares of Godaddy from $80.00 to $82.00 and gave the company an “overweight” rating in a research note on Thursday, February 21st.

In related news, insider Steven Aldrich sold 35,000 shares of the stock in a transaction dated Friday, February 22nd. The shares were sold at an average price of $75.22, for a total transaction of $2,632,700.00. Following the completion of the sale, the insider now owns 62,596 shares in the company, valued at approximately $4,708,471.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO Ah Kee Andrew Low sold 8,610 shares of the stock in a transaction dated Tuesday, February 26th. The stock was sold at an average price of $75.14, for a total transaction of $646,955.40. Following the sale, the executive now owns 52,654 shares of the company’s stock, valued at approximately $3,956,421.56. The disclosure for this sale can be found here. Over the last three months, insiders sold 270,437 shares of company stock valued at $19,319,496. Insiders own 7.63% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Flinton Capital Management LLC bought a new position in Godaddy during the 4th quarter worth approximately $27,000. Csenge Advisory Group bought a new position in Godaddy in the third quarter valued at approximately $62,000. Parallel Advisors LLC lifted its stake in Godaddy by 15.8% in the fourth quarter. Parallel Advisors LLC now owns 1,516 shares of the technology company’s stock valued at $99,000 after buying an additional 207 shares in the last quarter. Korea Investment CORP bought a new position in Godaddy in the third quarter valued at approximately $153,000. Finally, FDx Advisors Inc. bought a new position in Godaddy in the third quarter valued at approximately $202,000. Hedge funds and other institutional investors own 98.60% of the company’s stock.

NYSE GDDY traded up $0.90 on Friday, hitting $76.70. The stock had a trading volume of 561,416 shares, compared to its average volume of 1,414,936. Godaddy has a one year low of $56.67 and a one year high of $84.97. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 2.90. The stock has a market cap of $13.29 billion, a price-to-earnings ratio of 121.75, a price-to-earnings-growth ratio of 5.41 and a beta of 0.65.

Godaddy (NYSE:GDDY) last posted its earnings results on Wednesday, February 20th. The technology company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.13 by $0.15. The firm had revenue of $696.00 million during the quarter, compared to analysts’ expectations of $693.41 million. Godaddy had a net margin of 2.90% and a return on equity of 11.91%. Godaddy’s quarterly revenue was up 15.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.54 EPS. As a group, equities research analysts expect that Godaddy will post 0.82 earnings per share for the current fiscal year.

About Godaddy

GoDaddy Inc designs and develops cloud-based technology products for small businesses, Web design professionals, and individuals in the United States and internationally. The company provides domain name registration product that enables to engage customers at the initial stage of establishing a digital identity; and hosting products, including shared Website hosting, Website hosting on virtual private servers and virtual dedicated servers, managed hosting, and security.

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Analyst Recommendations for Godaddy (NYSE:GDDY)

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