Godaddy (GDDY) Price Target Raised to $71.00

Godaddy (NYSE:GDDY) had its price target boosted by SunTrust Banks to $71.00 in a report released on Friday morning. The brokerage currently has a buy rating on the technology company’s stock.

A number of other research firms have also recently issued reports on GDDY. Morgan Stanley increased their price objective on shares of Godaddy from $59.00 to $64.00 and gave the stock an overweight rating in a research report on Friday, February 23rd. B. Riley reissued a buy rating and set a $53.00 price objective on shares of Godaddy in a research report on Wednesday, January 3rd. Wedbush initiated coverage on shares of Godaddy in a research report on Friday, December 8th. They set a neutral rating and a $52.00 price objective on the stock. Barclays increased their price objective on shares of Godaddy from $53.00 to $59.00 and gave the stock an overweight rating in a research report on Tuesday, January 30th. Finally, Stifel Nicolaus reissued a hold rating and set a $52.00 price objective (up previously from $44.00) on shares of Godaddy in a research report on Friday, February 23rd. Six equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of Buy and a consensus price target of $59.94.

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Godaddy (NYSE:GDDY) opened at $61.01 on Friday. The stock has a market cap of $10,245.59, a PE ratio of 190.66, a PEG ratio of 5.37 and a beta of 0.57. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 4.41. Godaddy has a 1 year low of $35.74 and a 1 year high of $64.49.

In other Godaddy news, insider Barbara J. Rechterman sold 35,000 shares of the stock in a transaction dated Wednesday, March 21st. The shares were sold at an average price of $62.44, for a total value of $2,185,400.00. Following the completion of the sale, the insider now owns 88,295 shares in the company, valued at approximately $5,513,139.80. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Robert R. Parsons sold 8,000,000 shares of the stock in a transaction dated Monday, March 5th. The shares were sold at an average price of $59.21, for a total transaction of $473,680,000.00. The disclosure for this sale can be found here. Insiders sold a total of 13,671,982 shares of company stock worth $807,435,238 in the last 90 days. 22.68% of the stock is currently owned by company insiders.

Large investors have recently bought and sold shares of the business. Bank of New York Mellon Corp increased its stake in Godaddy by 48.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 362,619 shares of the technology company’s stock valued at $15,777,000 after buying an additional 118,109 shares during the last quarter. California Public Employees Retirement System increased its stake in Godaddy by 26.6% in the 4th quarter. California Public Employees Retirement System now owns 159,033 shares of the technology company’s stock valued at $7,996,000 after buying an additional 33,433 shares during the last quarter. Rhumbline Advisers increased its stake in Godaddy by 33.7% in the 3rd quarter. Rhumbline Advisers now owns 114,233 shares of the technology company’s stock valued at $4,970,000 after buying an additional 28,774 shares during the last quarter. Riverbridge Partners LLC purchased a new stake in Godaddy in the 4th quarter valued at about $26,202,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Godaddy by 43.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,624 shares of the technology company’s stock valued at $333,000 after buying an additional 2,019 shares during the last quarter. Hedge funds and other institutional investors own 86.87% 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.

Analyst Recommendations for Godaddy (NYSE:GDDY)

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