Godaddy (NYSE:GDDY) Rating Reiterated by B. Riley

B. Riley reaffirmed their buy rating on shares of Godaddy (NYSE:GDDY) in a research report report published on Wednesday, January 3rd. They currently have a $53.00 price target on the technology company’s stock.

Several other research firms have also weighed in on GDDY. Jefferies Group reaffirmed a buy rating and set a $55.00 price target on shares of Godaddy in a research report on Wednesday, September 20th. Oppenheimer reaffirmed a buy rating and set a $53.00 price target (up previously from $50.00) on shares of Godaddy in a research report on Tuesday, November 7th. TheStreet raised Godaddy from a c- rating to a b- rating in a research report on Tuesday, November 7th. Wedbush began coverage on Godaddy in a research report on Friday, December 8th. They set a neutral rating and a $52.00 price target on the stock. Finally, Royal Bank of Canada boosted their target price on Godaddy from $47.00 to $53.00 and gave the stock an outperform rating in a report on Tuesday, November 7th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus price target of $50.43.

Godaddy (GDDY) traded up $0.72 during trading on Wednesday, hitting $55.27. The stock had a trading volume of 703,054 shares, compared to its average volume of 1,130,000. Godaddy has a 52 week low of $34.58 and a 52 week high of $55.47. The company has a debt-to-equity ratio of 5.15, a current ratio of 0.57 and a quick ratio of 0.57. The firm has a market cap of $9,200.00 and a price-to-earnings ratio of 425.15.

Godaddy (NYSE:GDDY) last released its quarterly earnings data on Monday, November 6th. The technology company reported $0.07 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.07. Godaddy had a return on equity of 7.89% and a net margin of 2.34%. equities research analysts expect that Godaddy will post 0.27 EPS for the current fiscal year.

In related news, insider Barbara J. Rechterman sold 35,000 shares of the company’s stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $53.29, for a total transaction of $1,865,150.00. Following the completion of the sale, the insider now directly owns 46,113 shares in the company, valued at approximately $2,457,361.77. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Rick Kimball sold 7,102,622 shares of the company’s stock in a transaction on Thursday, December 7th. The stock was sold at an average price of $47.12, for a total value of $334,675,548.64. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,844,233 shares of company stock valued at $371,007,610. Corporate insiders own 22.68% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company raised its position in Godaddy by 7.8% in the second quarter. The Manufacturers Life Insurance Company now owns 5,476 shares of the technology company’s stock valued at $232,000 after purchasing an additional 397 shares during the last quarter. Symphony Asset Management LLC raised its position in Godaddy by 4.0% in the second quarter. Symphony Asset Management LLC now owns 13,044 shares of the technology company’s stock valued at $553,000 after purchasing an additional 501 shares during the last quarter. Oppenheimer Asset Management Inc. raised its position in Godaddy by 6.7% in the second quarter. Oppenheimer Asset Management Inc. now owns 11,620 shares of the technology company’s stock valued at $493,000 after purchasing an additional 728 shares during the last quarter. Public Employees Retirement Association of Colorado raised its position in Godaddy by 66.8% in the second quarter. Public Employees Retirement Association of Colorado now owns 2,462 shares of the technology company’s stock valued at $104,000 after purchasing an additional 986 shares during the last quarter. Finally, Aperio Group LLC raised its position in Godaddy by 23.3% in the third quarter. Aperio Group LLC now owns 8,624 shares of the technology company’s stock valued at $375,000 after purchasing an additional 1,631 shares during the last quarter. Hedge funds and other institutional investors own 84.25% of the company’s stock.

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About Godaddy

GoDaddy Inc is a technology provider to small businesses, Web design professionals and individuals. The Company delivers cloud-based products and personalized customer care. It operates a domain marketplace, where its customers can find the digital real estate that matches their idea. It provides Website building, hosting and security tools to help customers construct and protect online presence.

Analyst Recommendations for Godaddy (NYSE:GDDY)

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