Godaddy Inc (GDDY) Receives Average Recommendation of “Buy” from Analysts

Godaddy Inc (NYSE:GDDY) has earned an average rating of “Buy” from the nineteen brokerages that are presently covering the firm, MarketBeat.com reports. Six research analysts have rated the stock with a hold recommendation, eleven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $50.58.

GDDY has been the subject of several recent research reports. Jefferies Group reiterated a “buy” rating and issued a $55.00 price target on shares of Godaddy in a research report on Wednesday, September 20th. William Blair began coverage on Godaddy in a research report on Thursday, October 5th. They issued an “outperform” rating for the company. Zacks Investment Research cut Godaddy from a “hold” rating to a “sell” rating in a research report on Tuesday, October 10th. B. Riley restated a “buy” rating and set a $53.00 target price on shares of Godaddy in a research report on Thursday, October 26th. Finally, BidaskClub upgraded Godaddy from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 28th.

In other Godaddy news, CEO Blake Irving sold 37,500 shares of Godaddy stock in a transaction dated Tuesday, October 10th. The stock was sold at an average price of $43.67, for a total transaction of $1,637,625.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Barbara J. Rechterman sold 35,000 shares of Godaddy stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $50.49, for a total value of $1,767,150.00. Following the sale, the insider now directly owns 50,427 shares of the company’s stock, valued at approximately $2,546,059.23. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,859,345 shares of company stock valued at $370,551,922. 22.68% of the stock is owned by company insiders.

A number of hedge funds have recently modified their holdings of GDDY. Public Employees Retirement Association of Colorado lifted its stake in Godaddy by 66.8% during the second quarter. Public Employees Retirement Association of Colorado now owns 2,462 shares of the technology company’s stock worth $104,000 after purchasing an additional 986 shares during the last quarter. Great West Life Assurance Co. Can lifted its stake in Godaddy by 93.9% during the second quarter. Great West Life Assurance Co. Can now owns 9,211 shares of the technology company’s stock worth $390,000 after purchasing an additional 4,461 shares during the last quarter. Sei Investments Co. lifted its stake in Godaddy by 160.4% during the second quarter. Sei Investments Co. now owns 3,706 shares of the technology company’s stock worth $158,000 after purchasing an additional 2,283 shares during the last quarter. Rhumbline Advisers lifted its stake in Godaddy by 66.5% during the second quarter. Rhumbline Advisers now owns 85,459 shares of the technology company’s stock worth $3,625,000 after purchasing an additional 34,124 shares during the last quarter. Finally, State of Wisconsin Investment Board lifted its stake in Godaddy by 67.9% during the second 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 last quarter. 84.43% of the stock is owned by hedge funds and other institutional investors.

Godaddy (NYSE:GDDY) opened at $50.55 on Friday. The firm has a market capitalization of $8,320.96, a price-to-earnings ratio of 194.43, a PEG ratio of 5.17 and a beta of 0.65. Godaddy has a 52-week low of $34.40 and a 52-week high of $51.35. The company has a debt-to-equity ratio of 5.15, a current ratio of 0.57 and a quick ratio of 0.57.

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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.

Analyst Recommendations for Godaddy (NYSE:GDDY)

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