Godaddy (NYSE:GDDY) received a $52.00 price target from investment analysts at Stifel Nicolaus in a research note issued on Friday. The brokerage currently has a “hold” rating on the technology company’s stock. Stifel Nicolaus’ price objective suggests a potential downside of 13.71% from the company’s previous close.
GDDY has been the subject of several other research reports. Deutsche Bank increased their price objective on Godaddy from $60.00 to $72.00 and gave the stock a “buy” rating in a report on Friday. B. Riley reiterated a “buy” rating and issued a $53.00 price objective on shares of Godaddy in a report on Tuesday, November 7th. BidaskClub upgraded Godaddy from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 28th. Piper Jaffray Companies increased their price objective on Godaddy from $53.00 to $60.00 and gave the stock an “overweight” rating in a report on Monday, November 13th. Finally, Zacks Investment Research cut Godaddy from a “hold” rating to a “sell” rating in a report on Thursday, January 18th. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $58.33.
Godaddy (NYSE GDDY) traded up $4.83 during midday trading on Friday, reaching $60.26. The company’s stock had a trading volume of 1,304,553 shares, compared to its average volume of 1,056,497. Godaddy has a 1-year low of $35.72 and a 1-year high of $60.39. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 5.15. The stock has a market cap of $9,267.70, a PE ratio of 228.93, a P/E/G ratio of 5.82 and a beta of 0.72.
In related news, CMO Barbara J. Rechterman sold 4,314 shares of the firm’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $47.58, for a total transaction of $205,260.12. Following the completion of the transaction, the chief marketing officer now owns 28,613 shares of the company’s stock, valued at approximately $1,361,406.54. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Barbara J. Rechterman sold 39,314 shares of the firm’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 transaction, the insider now directly owns 28,613 shares of the company’s stock, valued at approximately $1,347,386.17. The disclosure for this sale can be found here. Insiders sold a total of 7,789,449 shares of company stock valued at $369,320,793 in the last three months. Corporate insiders own 22.68% of the company’s stock.
A number of hedge funds have recently bought and sold shares of GDDY. Technology Crossover Management VII Ltd. increased its position in Godaddy by 263.1% during the 4th quarter. Technology Crossover Management VII Ltd. now owns 25,790,717 shares of the technology company’s stock valued at $1,296,757,000 after buying an additional 18,688,095 shares in the last quarter. Capital International Investors increased its position in Godaddy by 628.1% during the 3rd quarter. Capital International Investors now owns 3,715,574 shares of the technology company’s stock valued at $161,665,000 after buying an additional 3,205,274 shares in the last quarter. Egerton Capital UK LLP bought a new position in Godaddy during the 4th quarter valued at approximately $47,953,000. BlackRock Inc. increased its position in Godaddy by 15.0% during the 4th quarter. BlackRock Inc. now owns 5,029,012 shares of the technology company’s stock valued at $252,860,000 after buying an additional 654,239 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position in Godaddy by 26.1% during the 4th quarter. Renaissance Technologies LLC now owns 2,992,900 shares of the technology company’s stock valued at $150,483,000 after buying an additional 619,500 shares in the last quarter. 84.84% of the stock is owned by institutional investors.
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Godaddy Company Profile
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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