GoDaddy Inc. (GDDY) Receives $43.50 Average Target Price from Analysts
Shares of GoDaddy Inc. (NYSE:GDDY) have been given an average rating of “Buy” by the fifteen ratings firms that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and ten have given a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $43.33.
A number of equities research analysts have weighed in on GDDY shares. B. Riley reiterated a “buy” rating and set a $45.00 price target on shares of GoDaddy in a research report on Sunday, April 16th. Cantor Fitzgerald reiterated a “hold” rating on shares of GoDaddy in a research report on Monday, June 26th. Stifel Nicolaus set a $41.00 price target on shares of GoDaddy and gave the company a “hold” rating in a research report on Friday, June 23rd. BidaskClub cut shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 11th. Finally, Oppenheimer Holdings, Inc. lifted their price target on shares of GoDaddy from $44.00 to $47.00 and gave the company an “outperform” rating in a research report on Thursday, June 22nd.
In other news, insider Barbara J. Rechterman sold 35,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 12th. The shares were sold at an average price of $42.42, for a total transaction of $1,484,700.00. Following the completion of the sale, the insider now owns 54,741 shares in the company, valued at approximately $2,322,113.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Scott Wagner sold 8,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 19th. The stock was sold at an average price of $37.23, for a total transaction of $297,840.00. Following the sale, the chief operating officer now owns 10,355 shares of the company’s stock, valued at approximately $385,516.65. The disclosure for this sale can be found here. Insiders sold 20,248,913 shares of company stock valued at $760,519,814 in the last quarter. 25.70% of the stock is owned by insiders.
Several hedge funds have recently modified their holdings of GDDY. Wells Fargo & Company MN increased its stake in shares of GoDaddy by 45.6% in the first quarter. Wells Fargo & Company MN now owns 51,901 shares of the technology company’s stock valued at $1,967,000 after buying an additional 16,243 shares in the last quarter. Russell Investments Group Ltd. increased its stake in shares of GoDaddy by 1.6% in the first quarter. Russell Investments Group Ltd. now owns 45,625 shares of the technology company’s stock valued at $1,728,000 after buying an additional 708 shares in the last quarter. Acadian Asset Management LLC bought a new stake in shares of GoDaddy during the first quarter valued at $2,118,000. Profund Advisors LLC increased its stake in shares of GoDaddy by 14.4% in the first quarter. Profund Advisors LLC now owns 25,770 shares of the technology company’s stock valued at $977,000 after buying an additional 3,250 shares in the last quarter. Finally, Highbridge Capital Management LLC bought a new stake in shares of GoDaddy during the fourth quarter valued at $223,000.
GoDaddy (NYSE:GDDY) traded up 1.40% during midday trading on Friday, reaching $42.81. 1,105,816 shares of the company’s stock traded hands. GoDaddy has a 1-year low of $28.13 and a 1-year high of $44.22. The firm’s 50-day moving average is $41.54 and its 200-day moving average is $37.81. The company’s market capitalization is $3.92 billion.
GoDaddy (NYSE:GDDY) last announced its quarterly earnings results on Tuesday, May 2nd. The technology company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.05. GoDaddy had a negative net margin of 0.28% and a positive return on equity of 0.73%. The business had revenue of $489.70 million during the quarter, compared to analysts’ expectations of $487.77 million. Analysts forecast that GoDaddy will post $0.19 earnings per share for the current year.
GoDaddy Company Profile
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.
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