Shares of GoDaddy Inc. (NYSE: GDDY – Rated ) have received a unanimous “buy” recommendation from the nine brokerages covering the company, according to Marketbeat.com. One investment analyst has assigned a hold rating to the stock, five have issued a buy recommendation and one has issued a strong buy recommendation for the company. Brokers who reported on the stock last year had an average 12-month price target of $96.75.
Many analysts have commented on the stock. Barclays raised their price target on shares of GoDaddy from $104.00 to $107.00 and gave the company an “overweight” rating in a report on Thursday, August 4th. StockNews.com began coverage on shares of GoDaddy in a report on Wednesday, October 12th. They have a “buy” rating on the stock. Piper Sandler cut their price target on GoDaddy from $110.00 to $100.00 and set an “overweight” rating on the company in a research report on Friday, November 4th. JPMorgan Chase & Co began coverage on shares of GoDaddy in a research report on Friday, November 11th. They give the stock an “overweight” rating and a price target of $89.00. Finally, Morgan Stanley upped their target price on GoDaddy from $91.00 to $93.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 4th.
GoDaddy value for money
NYSE: GDDY opened at $73.05 on Tuesday. GoDaddy had a 1-year low of $64.65 and a 1-year high of $88.32. The company has a market cap of $11.35 billion, a P/E ratio of 34.46, a P/E ratio of 2.22, and a beta of 0.95. The company’s 50-day moving average is $74.30 and its 200-day moving average is $73.85.
insiders place bets
In other news, CEO Amanpal Singh Bhutani sold 1,987 shares in the trade on Tuesday, October 4. The stock has an average selling price of $74.51 and a total value of $148,051.37. Following the transaction, the CEO now owns 217,050 shares of the company, worth approximately $16,172,395.50. The transaction was disclosed in a filing with the U.S. Securities and Exchange Commission, which is available at this hyperlink. In other news, CEO Amanpal Singh Bhutani sold 1,987 shares in the company in trade on Tuesday, October 4. These shares sold at an average price of $74.51 for a total value of $148,051.37. Following the transaction, the CEO now owns 217,050 shares of the company, worth approximately $16,172,395.50. The sale was disclosed in a filing with the U.S. Securities and Exchange Commission, which is available at this link. Additionally, Director Leah Sweet sold 1,000 shares of GoDaddy stock in trading on Thursday, November 10th. The stock had an average selling price of $72.13 and a total transaction value of $72,130.00. Following the sale, the directors now own 8,138 shares of the company, worth $586,993.94. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,623 shares of the company worth $565,393. Insiders own 0.37% of the company.
Institutional investors weigh in on GoDaddy
Many institutional investors have recently increased or decreased their stakes in the business. The National Pension Service acquired a new stake in GoDaddy during the third quarter, valued at $20,607,000. M&T Bank Corp increased its stake in GoDaddy by 3.6% in the third quarter. M&T Bank Corp now owns 23,831 shares of the technology company worth $1,689,000 after buying an additional 832 shares last quarter. Captrust Financial Advisors increased its stake in GoDaddy by 101.8% in the third quarter. Captrust Financial Advisors now owns 18,745 shares of the technology company worth $1,329,000 after buying an additional 9,456 shares last quarter. State Street Corp boosted its position in GoDaddy by 1.5% in the third quarter. After acquiring an additional 56,874 shares last quarter, State Street Corp now owns 3,832,769 shares of the technology company’s stock worth $271,667,000. Finally, Jacobs Levy Equity Management Inc. increased its stake in GoDaddy by 2.8% in the third quarter. Jacobs Levy Equity Management Inc. now owns 986,213 shares of the technology company worth $69,903,000 after acquiring an additional 27,054 shares in the previous quarter. Hedge funds and other institutional investors own 96.50% of the company.
GoDaddy Inc designs and develops cloud-based technology products in the United States and internationally. The company offers a domain name registration product that engages customers in the initial stages of establishing a digital identity. It also offers shared website hosting products, offering a variety of applications and products such as web analytics, secure socket layer certificates, and WordPress; hosting websites on virtual private servers and virtual private server products, allowing customers to choose the right one for their application, required and growing server configurations; managed hosting products, which set up, monitor, maintain, secure and patch software and servers for customers; and security products, a suite of tools designed to help protect customers’ online presence.
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