Raymond James Boosts Godaddy (NYSE:GDDY) Price Target to $89.00

Godaddy (NYSE:GDDY) had its price target increased by research analysts at Raymond James from $85.00 to $89.00 in a research note issued to investors on Friday, BenzingaRatingsTable reports. The brokerage presently has an “outperform” rating on the technology company’s stock. Raymond James’ target price indicates a potential upside of 25.58% from the company’s previous close.

GDDY has been the topic of several other reports. Wedbush reiterated a “neutral” rating on shares of Godaddy in a research note on Monday, November 4th. Royal Bank of Canada began coverage on Godaddy in a research note on Thursday, January 2nd. They issued a “buy” rating and a $81.00 price objective on the stock. SunTrust Banks reduced their price objective on Godaddy to and set a “buy” rating on the stock in a research note on Thursday, January 16th. Zacks Investment Research upgraded Godaddy from a “hold” rating to a “strong-buy” rating and set a $83.00 price objective on the stock in a research note on Tuesday, January 21st. Finally, ValuEngine upgraded Godaddy from a “sell” rating to a “hold” rating in a research note on Friday, November 29th. Three analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Godaddy currently has a consensus rating of “Buy” and an average price target of $87.90.

Shares of NYSE GDDY opened at $70.87 on Friday. The stock has a market cap of $11.97 billion, a P/E ratio of 107.38, a PEG ratio of 4.14 and a beta of 0.67. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 3.78. Godaddy has a 12-month low of $59.93 and a 12-month high of $82.30. The business’s fifty day simple moving average is $69.98 and its 200-day simple moving average is $66.97.

In other Godaddy news, insider Nima Kelly sold 576 shares of the firm’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $66.82, for a total value of $38,488.32. Following the sale, the insider now directly owns 126,226 shares in the company, valued at $8,434,421.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Brian Sharples sold 850 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $67.53, for a total value of $57,400.50. Following the completion of the sale, the director now owns 10,098 shares in the company, valued at $681,917.94. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,462 shares of company stock worth $372,963. 12.64% of the stock is owned by insiders.

Institutional investors have recently bought and sold shares of the business. Sciencast Management LP grew its holdings in shares of Godaddy by 209.9% during the third quarter. Sciencast Management LP now owns 20,700 shares of the technology company’s stock worth $1,266,000 after purchasing an additional 14,020 shares during the last quarter. Andra AP fonden grew its holdings in shares of Godaddy by 10.8% during the third quarter. Andra AP fonden now owns 71,700 shares of the technology company’s stock worth $4,731,000 after purchasing an additional 7,000 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. grew its holdings in shares of Godaddy by 76.1% during the third quarter. Harel Insurance Investments & Financial Services Ltd. now owns 4,756 shares of the technology company’s stock worth $314,000 after purchasing an additional 2,056 shares during the last quarter. Redpoint Investment Management Pty Ltd grew its holdings in shares of Godaddy by 34.7% during the third quarter. Redpoint Investment Management Pty Ltd now owns 4,221 shares of the technology company’s stock worth $279,000 after purchasing an additional 1,088 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. grew its holdings in shares of Godaddy by 35.4% during the third quarter. Oppenheimer Asset Management Inc. now owns 46,576 shares of the technology company’s stock worth $3,073,000 after purchasing an additional 12,187 shares during the last quarter. Institutional investors own 96.66% of the company’s stock.

About Godaddy

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

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