Godaddy (GDDY) Price Target Raised to $74.00 at JMP Securities

Godaddy (NYSE:GDDY) had its target price increased by JMP Securities from $68.00 to $74.00 in a research note released on Monday. They currently have an outperform rating on the technology company’s stock.

Several other equities research analysts have also commented on the company. Summit Insights reiterated a hold rating on shares of Godaddy in a research note on Wednesday, March 28th. SunTrust Banks reiterated a buy rating and set a $75.00 price objective on shares of Godaddy in a research note on Thursday, March 29th. Oppenheimer boosted their price objective on Godaddy from $65.00 to $70.00 and gave the stock an outperform rating in a research note on Thursday, March 29th. Royal Bank of Canada reiterated an outperform rating and set a $69.00 price objective on shares of Godaddy in a research note on Thursday, March 29th. Finally, Goldman Sachs began coverage on Godaddy in a research note on Friday, March 23rd. They set a buy rating for the company. Seven research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. Godaddy currently has an average rating of Buy and a consensus target price of $61.63.

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Shares of Godaddy stock opened at $60.93 on Monday. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 4.41. Godaddy has a twelve month low of $36.02 and a twelve month high of $64.49. The stock has a market capitalization of $10,171.70, a P/E ratio of 189.28, a price-to-earnings-growth ratio of 7.23 and a beta of 0.55.

Godaddy (NYSE:GDDY) last announced its quarterly earnings results on Thursday, February 22nd. The technology company reported $0.11 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.02. Godaddy had a return on equity of 9.87% and a net margin of 6.45%. The firm had revenue of $602.20 million during the quarter, compared to analyst estimates of $593.47 million. analysts forecast that Godaddy will post 0.42 earnings per share for the current fiscal year.

In other news, insider Steven Aldrich sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $61.38, for a total value of $613,800.00. Following the completion of the sale, the insider now directly owns 17,391 shares in the company, valued at $1,067,459.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert R. Parsons sold 8,000,000 shares of the company’s stock in a transaction that occurred on Monday, March 5th. The shares were sold at an average price of $59.21, for a total value of $473,680,000.00. The disclosure for this sale can be found here. Insiders sold 13,688,000 shares of company stock valued at $809,006,169 over the last 90 days. Company insiders own 22.68% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. American International Group Inc. purchased a new stake in shares of Godaddy in the fourth quarter valued at approximately $150,000. QS Investors LLC purchased a new stake in shares of Godaddy in the fourth quarter valued at approximately $156,000. AXA purchased a new stake in shares of Godaddy in the fourth quarter valued at approximately $201,000. US Bancorp DE grew its position in shares of Godaddy by 10,297.6% in the fourth quarter. US Bancorp DE now owns 4,263 shares of the technology company’s stock valued at $214,000 after purchasing an additional 4,222 shares in the last quarter. Finally, Jefferies Group LLC purchased a new stake in shares of Godaddy in the fourth quarter valued at approximately $231,000. Institutional investors and hedge funds 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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