Godaddy Inc (NYSE:GDDY) shares rose 10.6% during mid-day trading 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 traded hands during trading. An increase of 277% from the average daily volume of 1,311,570 shares. The stock had previously closed at $70.87.
Several other analysts have also recently issued reports on the company. TheStreet raised Godaddy from a “c+” rating to a “b-” rating in a report on Monday, November 18th. SunTrust Banks decreased their price objective on Godaddy to and set a “buy” rating on the stock in a report on Thursday, January 16th. Zacks Investment Research upgraded Godaddy from a “hold” rating to a “strong-buy” rating and set a $83.00 price target on the stock in a report on Tuesday, January 21st. ValuEngine upgraded Godaddy from a “sell” rating to a “hold” rating in a report on Friday, November 29th. Finally, Royal Bank of Canada initiated coverage on Godaddy in a report on Thursday, January 2nd. They set a “buy” rating and a $81.00 price target on the stock. 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. The company presently has a consensus rating of “Buy” and a consensus target price of $87.90.
In other Godaddy news, COO Ah Kee Andrew Low sold 1,022 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $67.32, for a total value of $68,801.04. Also, insider Nima Kelly sold 576 shares of the company’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $66.82, for a total value of $38,488.32. Following the completion of the transaction, the insider now directly owns 126,226 shares in the company, valued at approximately $8,434,421.32. The disclosure for this sale can be found here. Insiders have sold a total of 5,462 shares of company stock worth $372,963 in the last 90 days. 12.64% of the stock is currently owned by insiders.
A number of institutional investors have recently made changes to their positions in GDDY. BlackRock Inc. grew its position in Godaddy by 23.7% in the 2nd quarter. BlackRock Inc. now owns 14,344,269 shares of the technology company’s stock valued at $1,006,251,000 after acquiring an additional 2,747,523 shares during the last quarter. Marshall Wace North America L.P. grew its position in Godaddy by 122.1% in the 4th quarter. Marshall Wace North America L.P. now owns 4,382,590 shares of the technology company’s stock valued at $297,666,000 after acquiring an additional 2,409,546 shares during the last quarter. FMR LLC grew its position in Godaddy by 16.8% in the 4th quarter. FMR LLC now owns 7,616,745 shares of the technology company’s stock valued at $517,329,000 after acquiring an additional 1,094,328 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. bought a new position in Godaddy in the 4th quarter valued at $36,322,000. Finally, Renaissance Technologies LLC grew its position in Godaddy by 17.4% in the 4th quarter. Renaissance Technologies LLC now owns 3,578,000 shares of the technology company’s stock valued at $243,018,000 after acquiring an additional 530,100 shares during the last quarter. 96.66% of the stock is currently owned by institutional investors.
The company has a 50-day simple moving average of $70.16 and a 200 day simple moving average of $66.99. The company has a market cap of $11.97 billion, a P/E ratio of 118.77, a P/E/G ratio of 4.14 and a beta of 0.67. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 3.78.
Godaddy (NYSE:GDDY) last announced its quarterly earnings data on Thursday, February 13th. The technology company reported $0.34 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.03). The business had revenue of $780.40 million during the quarter, compared to the consensus estimate of $777.03 million. Godaddy had a net margin of 4.10% and a return on equity of 19.05%. On average, equities analysts forecast that Godaddy Inc will post 0.79 EPS 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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