Citigroup Raises Godaddy (GDDY) Price Target to $84.00

Share on StockTwits

Godaddy (NYSE:GDDY) had its price target boosted by stock analysts at Citigroup from $82.00 to $84.00 in a research note issued on Thursday. The firm presently has a “buy” rating on the technology company’s stock. Citigroup‘s target price suggests a potential upside of 16.04% from the company’s current price.

Other equities analysts also recently issued reports about the stock. Morgan Stanley set a $88.00 target price on shares of Godaddy and gave the stock a “buy” rating in a report on Wednesday, November 28th. SunTrust Banks reaffirmed a “buy” rating and set a $87.00 price objective on shares of Godaddy in a research report on Friday, November 2nd. TheStreet cut shares of Godaddy from a “b-” rating to a “c+” rating in a research report on Monday, October 29th. Zacks Investment Research raised shares of Godaddy from a “sell” rating to a “hold” rating in a research report on Monday, December 31st. Finally, Wedbush reaffirmed a “neutral” rating on shares of Godaddy in a research report on Wednesday, October 24th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and thirteen have issued a buy rating to the company. Godaddy currently has an average rating of “Buy” and an average price target of $80.73.

Shares of GDDY opened at $72.39 on Thursday. The firm has a market cap of $12.61 billion, a P/E ratio of 172.36, a PEG ratio of 5.19 and a beta of 0.64. Godaddy has a 1-year low of $54.80 and a 1-year high of $84.97. The company has a debt-to-equity ratio of 3.29, a quick ratio of 0.71 and a current ratio of 0.71.

Godaddy (NYSE:GDDY) last issued its earnings results on Wednesday, February 20th. The technology company reported $0.24 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.11. The business had revenue of $696.00 million for the quarter, compared to the consensus estimate of $693.41 million. Godaddy had a net margin of 4.96% and a return on equity of 8.01%. The firm’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.54 earnings per share. On average, analysts predict that Godaddy will post 0.34 earnings per share for the current year.

In other news, EVP Arne Josefsberg sold 45,000 shares of the business’s stock in a transaction dated Wednesday, January 23rd. The shares were sold at an average price of $63.48, for a total value of $2,856,600.00. Following the completion of the sale, the executive vice president now owns 46,471 shares of the company’s stock, valued at $2,949,979.08. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Nima Kelly sold 661 shares of the business’s stock in a transaction dated Monday, December 10th. The shares were sold at an average price of $63.50, for a total transaction of $41,973.50. Following the completion of the sale, the insider now directly owns 96,325 shares of the company’s stock, valued at approximately $6,116,637.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 83,778 shares of company stock valued at $5,209,655. Company insiders own 7.63% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Flinton Capital Management LLC bought a new stake in shares of Godaddy in the fourth quarter valued at about $27,000. Csenge Advisory Group bought a new stake in shares of Godaddy in the third quarter valued at about $62,000. Parallel Advisors LLC boosted its position in shares of Godaddy by 15.8% in the fourth quarter. Parallel Advisors LLC now owns 1,516 shares of the technology company’s stock valued at $99,000 after acquiring an additional 207 shares during the period. O Shaughnessy Asset Management LLC bought a new stake in shares of Godaddy in the third quarter valued at about $150,000. Finally, Korea Investment CORP bought a new stake in shares of Godaddy in the third quarter valued at about $153,000. 96.56% of the stock is owned by institutional investors.

Godaddy Company Profile

GoDaddy Inc designs and develops cloud-based technology products for small businesses, Web design professionals, and individuals in the United States and internationally. It provides domain name registration product that enables to engage customers at the initial stage of establishing a digital identity; hosting products, such as shared Website hosting, Website hosting on virtual private servers and virtual dedicated servers, managed hosting, and security.

Further Reading: Understanding Options Trading

Analyst Recommendations for Godaddy (NYSE:GDDY)

Receive News & Ratings for Godaddy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Godaddy and related companies with MarketBeat.com's FREE daily email newsletter.