Oppenheimer Holdings, Inc. Boosts GoDaddy Inc. (NYSE:GDDY) Price Target to $50.00
GoDaddy Inc. (NYSE:GDDY) had its price objective lifted by equities research analysts at Oppenheimer Holdings, Inc. from $47.00 to $50.00 in a research note issued to investors on Thursday. The brokerage currently has an “outperform” rating on the technology company’s stock. Oppenheimer Holdings, Inc.’s target price would suggest a potential upside of 13.64% from the company’s current price.
Several other research firms have also commented on GDDY. B. Riley reissued a “buy” rating and issued a $45.00 price objective on shares of GoDaddy in a research report on Sunday, April 16th. Royal Bank Of Canada raised their price objective on GoDaddy from $44.00 to $47.00 and gave the company an “outperform” rating in a research report on Wednesday. Raymond James Financial, Inc. raised their price objective on GoDaddy from $47.00 to $48.00 and gave the company an “outperform” rating in a research report on Wednesday. Cantor Fitzgerald reissued a “hold” rating on shares of GoDaddy in a research report on Monday, June 26th. Finally, Stifel Nicolaus set a $41.00 price objective on GoDaddy and gave the company a “hold” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the company’s stock. GoDaddy presently has an average rating of “Buy” and an average price target of $44.85.
Shares of GoDaddy (GDDY) traded down 5.09% during midday trading on Thursday, reaching $41.76. The company’s stock had a trading volume of 2,923,202 shares. The firm has a market capitalization of $4.25 billion, a price-to-earnings ratio of 328.82 and a beta of 0.65. The firm’s 50 day moving average is $42.82 and its 200 day moving average is $39.35. GoDaddy has a 52 week low of $28.13 and a 52 week high of $45.26.
GoDaddy (NYSE:GDDY) last released its quarterly earnings data on Tuesday, August 8th. The technology company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.03 by $0.10. GoDaddy had a return on equity of 5.58% and a net margin of 1.21%. The company had revenue of $557.80 million for the quarter, compared to analyst estimates of $551.26 million. During the same period last year, the company posted ($0.11) earnings per share. The firm’s revenue was up 22.3% compared to the same quarter last year. Equities analysts forecast that GoDaddy will post $0.21 EPS for the current fiscal year.
In other news, EVP Nima Kelly sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $44.00, for a total transaction of $880,000.00. Following the completion of the transaction, the executive vice president now directly owns 51,744 shares in the company, valued at $2,276,736. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Auguste Goldman sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $38.98, for a total value of $38,980.00. Following the transaction, the insider now owns 6,491 shares of the company’s stock, valued at $253,019.18. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 633,956 shares of company stock valued at $26,627,864. 25.70% of the stock is currently owned by insiders.
Institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp increased its position in shares of GoDaddy by 0.9% in the first quarter. Bank of New York Mellon Corp now owns 163,361 shares of the technology company’s stock valued at $6,192,000 after buying an additional 1,524 shares in the last quarter. Capital Fund Management S.A. purchased a new stake in GoDaddy during the first quarter worth $1,899,000. Algert Global LLC purchased a new stake in GoDaddy during the first quarter worth $1,530,000. First Trust Advisors LP increased its stake in GoDaddy by 4.5% in the first quarter. First Trust Advisors LP now owns 1,575,099 shares of the technology company’s stock worth $59,696,000 after buying an additional 67,852 shares during the period. Finally, Capital One National Association increased its stake in GoDaddy by 5.1% in the first quarter. Capital One National Association now owns 49,695 shares of the technology company’s stock worth $1,883,000 after buying an additional 2,420 shares during the period.
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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