Shares of Godaddy Inc (NYSE:GDDY) rose 10.6% on Friday after Raymond James raised their price target on the stock from $85.00 to $89.00. Raymond James currently has an outperform rating on the stock. Godaddy traded as high as $78.99 and last traded at $78.39, approximately 4,947,067 shares changed hands during mid-day trading. An increase of 277% from the average daily volume of 1,311,570 shares. The stock had previously closed at $70.87.

A number of other equities analysts also recently issued reports on GDDY. SunTrust Banks dropped their price target on Godaddy to and set a “buy” rating on the stock in a research report on Thursday, January 16th. Zacks Investment Research raised Godaddy from a “hold” rating to a “strong-buy” rating and set a $83.00 price target on the stock in a research report on Tuesday, January 21st. Wedbush reissued a “neutral” rating on shares of Godaddy in a research report on Monday, November 4th. ValuEngine raised Godaddy from a “sell” rating to a “hold” rating in a research report on Friday, November 29th. Finally, TheStreet raised Godaddy from a “c+” rating to a “b-” rating in a research report on Monday, November 18th. Three analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Godaddy currently has an average rating of “Buy” and an average price target of $87.90.

In other Godaddy news, Director Brian Sharples sold 850 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $67.53, for a total value of $57,400.50. Following the completion of the sale, the director now owns 10,098 shares of the company’s stock, valued at $681,917.94. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Nima Kelly sold 576 shares of the firm’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $66.82, for a total value of $38,488.32. Following the completion of the sale, the insider now directly owns 126,226 shares of the company’s stock, valued at approximately $8,434,421.32. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,462 shares of company stock worth $372,963. 12.64% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Arlington Partners LLC acquired a new stake in Godaddy in the fourth quarter worth about $31,000. Cordasco Financial Network raised its position in Godaddy by 175.0% in the fourth quarter. Cordasco Financial Network now owns 550 shares of the technology company’s stock valued at $37,000 after purchasing an additional 350 shares during the period. Quadrant Capital Group LLC raised its position in Godaddy by 38.3% in the fourth quarter. Quadrant Capital Group LLC now owns 560 shares of the technology company’s stock valued at $33,000 after purchasing an additional 155 shares during the period. Acadian Asset Management LLC purchased a new stake in Godaddy in the fourth quarter valued at $46,000. Finally, Robeco Institutional Asset Management B.V. raised its position in Godaddy by 1,035.3% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 1,158 shares of the technology company’s stock valued at $79,000 after purchasing an additional 1,056 shares during the period. 96.66% of the stock is owned by institutional investors and hedge funds.

The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 3.78. The company has a market cap of $11.97 billion, a PE ratio of 118.77, a P/E/G ratio of 4.14 and a beta of 0.67. The stock has a 50-day simple moving average of $69.98 and a 200 day simple moving average of $66.97.

Godaddy (NYSE:GDDY) last posted its earnings results on Thursday, February 13th. The technology company reported $0.34 EPS for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.03). Godaddy had a net margin of 4.10% and a return on equity of 19.05%. The business had revenue of $780.40 million during the quarter, compared to analysts’ expectations of $777.03 million. As a group, research analysts anticipate that Godaddy Inc will post 0.79 earnings per share for the current fiscal year.

Godaddy Company Profile (NYSE:GDDY)

GoDaddy Inc designs and develops cloud-based technology products for small businesses, Web design professionals, and individuals in the United States and internationally. The company provides domain name registration product that enables to engage customers at the initial stage of establishing a digital identity; and hosting products, including shared Website hosting, Website hosting on virtual private servers and virtual dedicated servers, managed hosting, and security.

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