Godaddy Inc (GDDY) Receives $74.80 Average Price Target from Brokerages
Shares of Godaddy Inc (NYSE:GDDY) have received an average rating of “Buy” from the twenty-one analysts that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $77.00.
GDDY has been the topic of several recent analyst reports. Zacks Investment Research upgraded shares of Godaddy from a “hold” rating to a “buy” rating and set a $84.00 price objective on the stock in a report on Tuesday, July 10th. JPMorgan Chase & Co. upped their price objective on shares of Godaddy to $80.00 and gave the company a “neutral” rating in a report on Friday, August 3rd. Barclays upped their price objective on shares of Godaddy from $77.00 to $84.00 and gave the company an “overweight” rating in a report on Monday, July 23rd. SunTrust Banks restated a “buy” rating and set a $87.00 price objective on shares of Godaddy in a report on Monday, August 6th. Finally, Piper Jaffray Companies restated an “overweight” rating and set a $90.00 price objective on shares of Godaddy in a report on Friday, July 20th.
In related news, CFO Raymond E. Winborne, Jr. sold 50,000 shares of the stock in a transaction that occurred on Friday, August 10th. The shares were sold at an average price of $76.55, for a total value of $3,827,500.00. Following the transaction, the chief financial officer now owns 101,831 shares in the company, valued at approximately $7,795,163.05. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Arne Josefsberg sold 45,000 shares of the stock in a transaction that occurred on Monday, June 25th. The stock was sold at an average price of $70.93, for a total transaction of $3,191,850.00. Following the completion of the transaction, the executive vice president now owns 28,348 shares in the company, valued at approximately $2,010,723.64. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,785,557 shares of company stock worth $588,964,102. 7.63% of the stock is owned by corporate insiders.
Shares of GDDY traded down $0.22 during mid-day trading on Wednesday, hitting $83.78. 1,166,310 shares of the company traded hands, compared to its average volume of 1,794,956. Godaddy has a 1-year low of $42.54 and a 1-year high of $84.67. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 3.56. The company has a market cap of $14.29 billion, a P/E ratio of 199.48, a price-to-earnings-growth ratio of 8.89 and a beta of 0.63.
Godaddy (NYSE:GDDY) last posted its quarterly earnings data on Thursday, August 2nd. The technology company reported $0.11 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.03. Godaddy had a net margin of 5.83% and a return on equity of 8.78%. The firm had revenue of $652.00 million for the quarter, compared to the consensus estimate of $643.59 million. During the same quarter in the prior year, the company posted $0.10 earnings per share. The company’s revenue for the quarter was up 16.8% compared to the same quarter last year. research analysts anticipate that Godaddy will post 0.55 EPS for the current fiscal year.
GoDaddy Inc designs and develops cloud-based technology products for small businesses, Web design professionals, and individuals in the United States and internationally. It provides domain name registration product that enables to engage customers at the initial stage of establishing a digital identity; hosting products, such as shared Website hosting, Website hosting on virtual private servers and virtual dedicated servers, managed hosting, and security.
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