GoDaddy Inc. (GDDY) Price Target Raised to $58.00 at Jefferies Group LLC
GoDaddy Inc. (NYSE:GDDY) had its target price increased by research analysts at Jefferies Group LLC from $55.00 to $58.00 in a report released on Tuesday. The firm presently has a “buy” rating on the technology company’s stock. Jefferies Group LLC’s target price points to a potential upside of 22.83% from the company’s previous close.
Other equities research analysts have also recently issued reports about the company. B. Riley restated a “buy” rating and set a $53.00 price objective on shares of GoDaddy in a research note on Monday, August 14th. Royal Bank Of Canada upped their price objective on GoDaddy from $47.00 to $53.00 and gave the stock an “outperform” rating in a research note on Tuesday. Stifel Nicolaus upped their price objective on GoDaddy from $41.00 to $44.00 and gave the stock a “hold” rating in a research note on Tuesday. Oppenheimer Holdings, Inc. restated a “buy” rating and set a $53.00 price objective (up from $50.00) on shares of GoDaddy in a research note on Tuesday. Finally, BidaskClub cut GoDaddy from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 11th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $48.62.
GoDaddy (GDDY) traded up $0.36 on Tuesday, hitting $47.22. The stock had a trading volume of 2,046,475 shares, compared to its average volume of 1,240,000. GoDaddy has a fifty-two week low of $31.94 and a fifty-two week high of $49.36. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 4.89. The company has a market cap of $8,020.00 and a P/E ratio of 161.59.
GoDaddy (NYSE:GDDY) last posted its quarterly earnings results on Tuesday, August 8th. The technology company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.10. The business had revenue of $557.80 million for the quarter, compared to the consensus estimate of $551.26 million. GoDaddy had a return on equity of 6.05% and a net margin of 1.21%. The business’s revenue was up 22.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.11) EPS. equities analysts forecast that GoDaddy will post 0.29 EPS for the current fiscal year.
In other GoDaddy news, EVP James M. Carroll sold 33,600 shares of the firm’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $41.58, for a total value of $1,397,088.00. Following the sale, the executive vice president now directly owns 42,087 shares of the company’s stock, valued at $1,749,977.46. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Barbara J. Rechterman sold 35,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $46.54, for a total value of $1,628,900.00. Following the completion of the sale, the insider now directly owns 50,427 shares in the company, valued at $2,346,872.58. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 12,295,560 shares of company stock worth $537,366,794. 22.68% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently modified their holdings of GDDY. Aperio Group LLC lifted its position in shares of GoDaddy by 5.6% in the second quarter. Aperio Group LLC now owns 6,993 shares of the technology company’s stock valued at $297,000 after acquiring an additional 373 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of 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 acquiring an additional 397 shares in the last quarter. Symphony Asset Management LLC lifted its position in shares of 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 acquiring an additional 501 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its position in shares of 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 acquiring an additional 728 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado lifted its position in shares of 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 acquiring an additional 986 shares in the last quarter. 78.82% of the stock is currently owned by institutional investors.
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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