Godaddy (GDDY) Earns Neutral Rating from Analysts at Wedbush
Wedbush assumed coverage on shares of Godaddy (NYSE:GDDY) in a report published on Friday morning, Marketbeat.com reports. The brokerage issued a neutral rating and a $52.00 target price on the technology company’s stock.
Other equities research analysts also recently issued reports about the company. TheStreet raised Godaddy from a c- rating to a b- rating in a report on Tuesday, November 7th. B. Riley reaffirmed a buy rating and set a $53.00 price target on shares of Godaddy in a report on Thursday, October 26th. Jefferies Group started coverage on Godaddy in a report on Thursday, August 24th. They set a buy rating and a $55.00 price target for the company. SunTrust Banks started coverage on Godaddy in a report on Tuesday, August 15th. They issued a buy rating and a $50.00 target price for the company. Finally, Deutsche Bank raised their target price on Godaddy from $48.00 to $51.00 and gave the company a buy rating in a report on Monday, August 14th. Five analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of Buy and an average price target of $50.15.
Shares of Godaddy (NYSE GDDY) traded up $0.73 during midday trading on Friday, hitting $48.88. The company had a trading volume of 2,404,000 shares, compared to its average volume of 1,248,978. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 5.15. Godaddy has a 52-week low of $34.27 and a 52-week high of $51.29. The firm has a market capitalization of $8,149.76, a P/E ratio of 157.68, a PEG ratio of 8.69 and a beta of 0.65.
In other news, insider Barbara J. Rechterman sold 35,000 shares of Godaddy stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $50.49, for a total transaction of $1,767,150.00. Following the completion of the transaction, the insider now owns 50,427 shares of the company’s stock, valued at approximately $2,546,059.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Scott Wagner sold 125,000 shares of Godaddy stock in a transaction on Thursday, December 7th. The stock was sold at an average price of $47.12, for a total value of $5,890,000.00. Following the transaction, the chief operating officer now directly owns 128,106 shares of the company’s stock, valued at approximately $6,036,354.72. The disclosure for this sale can be found here. In the last three months, insiders sold 803,834 shares of company stock valued at $37,206,375. 22.68% of the stock is owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the company. Public Employees Retirement Association of Colorado raised its stake in shares of 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 buying an additional 986 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Godaddy during the 2nd quarter worth about $118,000. Sei Investments Co. increased its position in Godaddy by 160.4% during the 2nd 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 in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Godaddy by 142.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,605 shares of the technology company’s stock worth $195,000 after purchasing an additional 2,707 shares in the last quarter. Finally, CIBC Asset Management Inc purchased a new stake in Godaddy during the 2nd quarter worth about $210,000. 84.26% of the stock is owned by institutional investors and hedge funds.
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.
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