GoDaddy Inc. (GDDY) Price Target Raised to $60.00 at Piper Jaffray Companies

GoDaddy Inc. (NYSE:GDDY) had its target price hoisted by Piper Jaffray Companies from $53.00 to $60.00 in a research note issued to investors on Monday. Piper Jaffray Companies currently has an overweight rating on the technology company’s stock.

A number of other research analysts have also issued reports on GDDY. B. Riley reiterated a buy rating and issued a $53.00 target price on shares of GoDaddy in a report on Wednesday, July 19th. Barclays PLC lifted their target price on GoDaddy from $45.00 to $47.00 and gave the company an overweight rating in a report on Wednesday, July 19th. BidaskClub lowered GoDaddy from a buy rating to a hold rating in a report on Tuesday, July 25th. Royal Bank Of Canada lifted their target price on GoDaddy from $44.00 to $47.00 and gave the company an outperform rating in a report on Wednesday, August 9th. Finally, Raymond James Financial, Inc. lifted their target price on GoDaddy from $47.00 to $48.00 and gave the company an outperform rating in a report on Wednesday, August 9th. Four analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of Buy and a consensus target price of $49.38.

GoDaddy (GDDY) traded up $0.42 during trading hours on Monday, reaching $48.57. The company had a trading volume of 1,846,000 shares, compared to its average volume of 1,210,250. The stock has a market capitalization of $7,934.78, a price-to-earnings ratio of 155.32, a PEG ratio of 8.46 and a beta of 0.64. GoDaddy has a 52-week low of $32.79 and a 52-week high of $49.36. The company has a debt-to-equity ratio of 5.15, a quick ratio of 0.57 and a current ratio of 0.57.

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In related news, EVP Nima Kelly sold 8,112 shares of the business’s stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $48.01, for a total value of $389,457.12. Following the transaction, the executive vice president now owns 37,046 shares in the company, valued at approximately $1,778,578.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Auguste Goldman sold 1,000 shares of the business’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $43.73, for a total value of $43,730.00. Following the completion of the transaction, the insider now owns 6,491 shares in the company, valued at approximately $283,851.43. The disclosure for this sale can be found here. Insiders sold a total of 12,267,964 shares of company stock valued at $536,480,344 over the last three months. Company insiders own 22.68% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. Engineers Gate Manager LP increased its position in GoDaddy by 90.6% during the 2nd quarter. Engineers Gate Manager LP now owns 114,274 shares of the technology company’s stock worth $4,848,000 after purchasing an additional 54,328 shares during the period. Victory Capital Management Inc. increased its position in GoDaddy by 5.3% during the 2nd quarter. Victory Capital Management Inc. now owns 1,629,173 shares of the technology company’s stock worth $69,110,000 after purchasing an additional 81,509 shares during the period. Geode Capital Management LLC increased its position in GoDaddy by 18.4% during the 1st quarter. Geode Capital Management LLC now owns 384,671 shares of the technology company’s stock worth $14,578,000 after purchasing an additional 59,759 shares during the period. State of Wisconsin Investment Board increased its position in GoDaddy by 67.9% during the 2nd quarter. State of Wisconsin Investment Board now owns 15,605 shares of the technology company’s stock worth $662,000 after purchasing an additional 6,310 shares during the period. Finally, Vanguard Group Inc. increased its position in GoDaddy by 26.8% during the 2nd quarter. Vanguard Group Inc. now owns 7,553,811 shares of the technology company’s stock worth $320,434,000 after purchasing an additional 1,598,137 shares during the period. Hedge funds and other institutional investors own 78.93% of the company’s stock.

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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