Godaddy’s (GDDY) Overweight Rating Reiterated at Piper Jaffray Companies

Piper Jaffray Companies reissued their overweight rating on shares of Godaddy Inc (NYSE:GDDY) in a research report report published on Tuesday. They currently have a $50.00 price target on the technology company’s stock, up from their previous price target of $46.00.

Other analysts have also issued research reports about the stock. Monness Crespi & Hardt reiterated a buy rating on shares of Godaddy in a research report on Thursday, February 16th. B. Riley reiterated a buy rating and set a $45.00 price target on shares of Godaddy in a research report on Tuesday, February 21st. Royal Bank of Canada set a $40.00 price target on shares of Godaddy and gave the stock a buy rating in a research report on Tuesday, February 14th. Cantor Fitzgerald reiterated a buy rating and set a $42.00 price target on shares of Godaddy in a research report on Friday, January 27th. Finally, Zacks Investment Research upgraded shares of Godaddy from a sell rating to a hold rating in a research report on Tuesday, January 24th. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The stock presently has an average rating of Buy and an average price target of $41.83.

Analyst Recommendations for Godaddy (NYSE:GDDY)

Godaddy (NYSE:GDDY) traded up 1.00% on Tuesday, hitting $40.30. 252,294 shares of the stock were exchanged. The company’s market capitalization is $3.69 billion. Godaddy has a 1-year low of $28.13 and a 1-year high of $40.49. The company has a 50-day moving average price of $38.19 and a 200 day moving average price of $36.25.

Godaddy (NYSE:GDDY) last posted its quarterly earnings results on Tuesday, May 2nd. The technology company reported $0.01 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.05. The business had revenue of $489.70 million for the quarter, compared to analyst estimates of $487.77 million. Godaddy had a negative net margin of 0.81% and a negative return on equity of 2.14%. Analysts anticipate that Godaddy will post $0.19 EPS for the current fiscal year.

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In other news, EVP Arne Josefsberg sold 1,262 shares of the firm’s stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $36.81, for a total transaction of $46,454.22. Following the completion of the transaction, the executive vice president now owns 4,707 shares of the company’s stock, valued at $173,264.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Scott Wagner sold 8,000 shares of the firm’s stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $39.74, for a total transaction of $317,920.00. Following the transaction, the chief operating officer now directly owns 11,106 shares of the company’s stock, valued at approximately $441,352.44. The disclosure for this sale can be found here. Insiders have sold 19,891,180 shares of company stock valued at $744,995,742 in the last ninety days. Insiders own 25.70% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. Credit Suisse AG increased its position in Godaddy by 569.1% in the first quarter. Credit Suisse AG now owns 201,560 shares of the technology company’s stock valued at $7,639,000 after buying an additional 171,436 shares during the last quarter. Tudor Investment Corp ET AL increased its position in Godaddy by 88.6% in the first quarter. Tudor Investment Corp ET AL now owns 13,767 shares of the technology company’s stock valued at $522,000 after buying an additional 6,467 shares during the last quarter. Gotham Asset Management LLC acquired a new position in Godaddy during the first quarter valued at about $310,000. Soros Fund Management LLC acquired a new position in Godaddy during the first quarter valued at about $493,000. Finally, Highbridge Capital Management LLC increased its position in Godaddy by 112.7% in the first quarter. Highbridge Capital Management LLC now owns 13,596 shares of the technology company’s stock valued at $515,000 after buying an additional 7,204 shares during the last quarter.

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.

5 Day Chart for NYSE:GDDY

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