GoDaddy Inc. (GDDY) Price Target Increased to $60.00 by Analysts at Piper Jaffray Companies

GoDaddy Inc. (NYSE:GDDY) had its target price raised by investment analysts at Piper Jaffray Companies from $53.00 to $60.00 in a report released on Monday. The firm presently has an “overweight” rating on the technology company’s stock. Piper Jaffray Companies’ target price points to a potential upside of 24.61% from the company’s current price.

GDDY has been the topic of several other reports. B. Riley restated a “buy” rating and set a $53.00 price target on shares of GoDaddy in a report on Tuesday, November 7th. BidaskClub upgraded shares of GoDaddy from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 28th. Deutsche Bank AG boosted their price target on shares of GoDaddy from $48.00 to $51.00 and gave the stock a “buy” rating in a report on Monday, August 14th. Jefferies Group LLC restated a “buy” rating and set a $55.00 price target on shares of GoDaddy in a report on Wednesday, September 20th. Finally, Stifel Nicolaus boosted their target price on shares of GoDaddy from $41.00 to $44.00 and gave the company a “hold” rating in a research note on Tuesday, November 7th. Five research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $49.38.

GoDaddy (NYSE GDDY) traded up $0.17 during trading on Monday, reaching $48.15. 1,617,500 shares of the company traded hands, compared to its average volume of 1,207,333. GoDaddy has a 1-year low of $32.00 and a 1-year high of $49.36. The stock has a market capitalization of $7,934.78, a PE ratio of 155.32, a PEG ratio of 8.46 and a beta of 0.64. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 5.15.

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In other news, insider Auguste Goldman sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $43.73, for a total value of $43,730.00. Following the sale, the insider now owns 6,491 shares of the company’s stock, valued at $283,851.43. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Robert R. Parsons sold 5,817,338 shares of the business’s stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $43.71, for a total transaction of $254,275,843.98. The disclosure for this sale can be found here. In the last three months, insiders sold 12,268,964 shares of company stock worth $536,522,144. Insiders own 22.68% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the stock. Aperio Group LLC increased its holdings in GoDaddy by 5.6% during the 2nd quarter. Aperio Group LLC now owns 6,993 shares of the technology company’s stock worth $297,000 after acquiring an additional 373 shares during the period. The Manufacturers Life Insurance Company increased its holdings in GoDaddy by 7.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,476 shares of the technology company’s stock worth $232,000 after acquiring an additional 397 shares during the period. Symphony Asset Management LLC increased its holdings in GoDaddy by 4.0% during the 2nd quarter. Symphony Asset Management LLC now owns 13,044 shares of the technology company’s stock worth $553,000 after acquiring an additional 501 shares during the period. Oppenheimer Asset Management Inc. increased its holdings in GoDaddy by 6.7% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 11,620 shares of the technology company’s stock worth $493,000 after acquiring an additional 728 shares during the period. Finally, Public Employees Retirement Association of Colorado increased its holdings in GoDaddy by 66.8% during the 2nd quarter. Public Employees Retirement Association of Colorado now owns 2,462 shares of the technology company’s stock worth $104,000 after acquiring an additional 986 shares during the period. 78.93% of the stock is currently owned by institutional investors and hedge funds.

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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