Morgan Stanley Analysts Give Godaddy (GDDY) a $85.00 Price Target
A number of other analysts also recently commented on GDDY. Wedbush restated a neutral rating and set a $85.00 price objective on shares of Godaddy in a report on Thursday, September 13th. ValuEngine downgraded Godaddy from a strong-buy rating to a buy rating in a report on Thursday, October 11th. SunTrust Banks restated a buy rating and set a $87.00 price objective on shares of Godaddy in a report on Friday, November 2nd. Zacks Investment Research downgraded Godaddy from a buy rating to a hold rating in a report on Monday, August 13th. Finally, TheStreet upgraded Godaddy from a c+ rating to a b- rating in a report on Friday, August 24th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $77.87.
Shares of Godaddy stock traded down $2.41 during trading hours on Wednesday, reaching $64.46. 2,033,052 shares of the company’s stock were exchanged, compared to its average volume of 1,814,081. Godaddy has a 52-week low of $45.87 and a 52-week high of $84.97. The firm has a market cap of $11.44 billion, a PE ratio of 153.48, a P/E/G ratio of 7.39 and a beta of 0.84. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 3.56.
In related news, major shareholder 2006 Fund (Gdg) L.P. Kkr sold 3,500,000 shares of the stock in a transaction on Friday, August 17th. The stock was sold at an average price of $75.61, for a total value of $264,635,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CRO Ah Kee Andrew Low sold 41,481 shares of the stock in a transaction on Monday, August 13th. The shares were sold at an average price of $76.01, for a total value of $3,152,970.81. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,733,727 shares of company stock valued at $585,453,642. 7.63% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in GDDY. O Shaughnessy Asset Management LLC acquired a new stake in shares of Godaddy during the third quarter valued at about $150,000. LS Investment Advisors LLC bought a new position in shares of Godaddy during the second quarter worth about $138,000. Livforsakringsbolaget Skandia Omsesidigt bought a new position in shares of Godaddy during the second quarter worth about $169,000. IBM Retirement Fund bought a new position in shares of Godaddy during the third quarter worth about $218,000. Finally, Harvest Fund Management Co. Ltd lifted its position in shares of Godaddy by 610.3% during the third quarter. Harvest Fund Management Co. Ltd now owns 2,678 shares of the technology company’s stock worth $223,000 after purchasing an additional 2,301 shares during the last quarter. Hedge funds and other institutional investors own 93.88% of the company’s stock.
Godaddy Company Profile
GoDaddy Inc designs and develops cloud-based technology products for small businesses, Web design professionals, and individuals in the United States and internationally. It provides domain name registration product that enables to engage customers at the initial stage of establishing a digital identity; hosting products, such as shared Website hosting, Website hosting on virtual private servers and virtual dedicated servers, managed hosting, and security.
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