Godaddy (GDDY) Price Target Raised to $64.00 at Morgan Stanley

Godaddy (NYSE:GDDY) had its target price upped by stock analysts at Morgan Stanley from $59.00 to $64.00 in a research report issued to clients and investors on Friday. The firm presently has an “overweight” rating on the technology company’s stock. Morgan Stanley’s price objective points to a potential upside of 4.52% from the stock’s current price.

A number of other equities analysts have also recently issued reports on GDDY. Stifel Nicolaus set a $52.00 target price on shares of Godaddy and gave the stock a “hold” rating in a research report on Friday. JMP Securities lifted their target price on shares of Godaddy from $60.00 to $68.00 and gave the stock a “market outperform” rating in a research report on Friday. Deutsche Bank lifted their target price on shares of Godaddy from $60.00 to $72.00 and gave the stock a “buy” rating in a research report on Friday. Royal Bank of Canada lifted their target price on shares of Godaddy to $69.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, Piper Jaffray Companies restated an “overweight” rating and set a $70.00 target price on shares of Godaddy in a research report on Friday. Five analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Godaddy presently has an average rating of “Buy” and an average target price of $58.67.

Godaddy (GDDY) traded up $5.80 during mid-day trading on Friday, reaching $61.23. 2,617,045 shares of the company were exchanged, compared to its average volume of 1,112,126. The stock has a market capitalization of $9,267.70, a P/E ratio of 235.62, a P/E/G ratio of 5.82 and a beta of 0.72. Godaddy has a 52-week low of $35.72 and a 52-week high of $61.50. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 5.15.

In other news, insider Barbara J. Rechterman sold 39,314 shares of the business’s stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $47.09, for a total value of $1,851,296.26. Following the completion of the transaction, the insider now owns 28,613 shares of the company’s stock, valued at $1,347,386.17. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Rick Kimball sold 7,102,622 shares of the business’s stock in a transaction that occurred on Thursday, December 7th. The shares were sold at an average price of $47.12, for a total transaction of $334,675,548.64. The disclosure for this sale can be found here. In the last three months, insiders sold 7,789,449 shares of company stock valued at $369,320,793. Company insiders own 22.68% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. American International Group Inc. purchased a new stake in Godaddy in the fourth quarter valued at approximately $150,000. QS Investors LLC purchased a new stake in Godaddy in the fourth quarter valued at approximately $156,000. Public Employees Retirement Association of Colorado grew its holdings in Godaddy by 49.3% in the third quarter. Public Employees Retirement Association of Colorado now owns 3,675 shares of the technology company’s stock valued at $160,000 after purchasing an additional 1,213 shares during the period. AXA purchased a new stake in Godaddy in the fourth quarter valued at approximately $201,000. Finally, US Bancorp DE grew its holdings in Godaddy by 10,297.6% in the fourth quarter. US Bancorp DE now owns 4,263 shares of the technology company’s stock valued at $214,000 after purchasing an additional 4,222 shares during the period. Hedge funds and other institutional investors own 84.84% 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.

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