Godaddy (GDDY) PT Raised to $60.00 at Piper Jaffray Companies

Godaddy (NYSE:GDDY) had its target price raised by stock analysts at Piper Jaffray Companies from $53.00 to $60.00 in a report issued on Monday, November 13th, MarketBeat Ratings reports. The brokerage presently has an “overweight” rating on the technology company’s stock. Piper Jaffray Companies’ target price would suggest a potential upside of 19.33% from the stock’s previous close.

A number of other brokerages have also recently weighed in on GDDY. B. Riley reiterated a “buy” rating and set a $53.00 price target on shares of Godaddy in a research note on Wednesday, July 19th. Barclays increased their price target on shares of Godaddy from $45.00 to $47.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 19th. BidaskClub cut shares of Godaddy from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Royal Bank of Canada increased their price target on shares of Godaddy from $44.00 to $47.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 9th. Finally, Raymond James Financial increased their price target on shares of Godaddy from $47.00 to $48.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 9th. Six investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $50.43.

Shares of Godaddy (GDDY) traded down $0.20 during trading on Monday, hitting $50.28. 578,785 shares of the stock traded hands, compared to its average volume of 1,753,498. Godaddy has a fifty-two week low of $34.38 and a fifty-two week high of $51.35. The company has a debt-to-equity ratio of 5.15, a quick ratio of 0.57 and a current ratio of 0.57. The firm has a market cap of $8,365.89, a PE ratio of 193.39, a price-to-earnings-growth ratio of 9.11 and a beta of 0.65.

In other news, EVP Nima Kelly sold 1,000 shares of the firm’s stock in a transaction on Tuesday, October 3rd. The shares were sold at an average price of $43.46, for a total value of $43,460.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Barbara J. Rechterman sold 35,000 shares of the firm’s stock in a transaction on Wednesday, December 27th. The stock was sold at an average price of $49.89, for a total transaction of $1,746,150.00. Following the completion of the sale, the insider now owns 46,113 shares of the company’s stock, valued at approximately $2,300,577.57. The disclosure for this sale can be found here. Insiders sold a total of 7,877,845 shares of company stock valued at $371,254,957 in the last 90 days. Company insiders own 22.68% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Aperio Group LLC increased its holdings in shares of Godaddy by 5.6% in the 2nd quarter. Aperio Group LLC now owns 6,993 shares of the technology company’s stock valued at $297,000 after purchasing an additional 373 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Godaddy by 7.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,476 shares of the technology company’s stock valued at $232,000 after purchasing an additional 397 shares in the last quarter. Symphony Asset Management LLC increased its holdings in shares of Godaddy by 4.0% in the 2nd quarter. Symphony Asset Management LLC now owns 13,044 shares of the technology company’s stock valued at $553,000 after purchasing an additional 501 shares in the last quarter. Oppenheimer Asset Management Inc. increased its holdings in shares of Godaddy by 6.7% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 11,620 shares of the technology company’s stock valued at $493,000 after purchasing an additional 728 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado increased its holdings in shares of Godaddy by 66.8% in the 2nd quarter. Public Employees Retirement Association of Colorado now owns 2,462 shares of the technology company’s stock valued at $104,000 after purchasing an additional 986 shares in the last quarter. Institutional investors and hedge funds own 84.43% of the company’s stock.

COPYRIGHT VIOLATION WARNING: This news story was originally published by American Banking and Market News and is owned by of American Banking and Market News. If you are viewing this news story on another website, it was illegally stolen and republished in violation of United States & international trademark and copyright law. The legal version of this news story can be viewed at https://www.americanbankingnews.com/2017/12/31/godaddy-gddy-pt-raised-to-60-00-at-piper-jaffray-companies.html.

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.