Piper Jaffray Companies Increases GoDaddy Inc. (GDDY) Price Target to $60.00

GoDaddy Inc. (NYSE:GDDY) had its price objective lifted by Piper Jaffray Companies from $53.00 to $60.00 in a report published on Monday, Marketbeat.com reports. Piper Jaffray Companies currently has an overweight rating on the technology company’s stock.

Several other equities analysts have also recently weighed in on the stock. BidaskClub raised shares of GoDaddy from a buy rating to a strong-buy rating in a research report on Saturday, October 28th. Barclays PLC raised their price target on shares of GoDaddy from $45.00 to $47.00 and gave the company an overweight rating in a research report on Wednesday, July 19th. William Blair initiated coverage on shares of GoDaddy in a research report on Thursday, October 5th. They issued an outperform rating on the stock. Royal Bank Of Canada reissued an outperform rating on shares of GoDaddy in a research report on Saturday, August 26th. Finally, Zacks Investment Research cut shares of GoDaddy from a hold rating to a sell rating in a research report on Tuesday, October 10th. Four analysts have rated the stock with a hold rating, twelve 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 $49.38.

GoDaddy (NYSE GDDY) opened at $49.33 on Monday. GoDaddy has a 1 year low of $33.06 and a 1 year high of $49.38. The firm has a market cap of $8,060.02, a PE ratio of 157.77, a P/E/G ratio of 8.70 and a beta of 0.64. The company has a debt-to-equity ratio of 5.15, a current ratio of 0.57 and a quick ratio of 0.57.

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In other news, insider Barbara J. Rechterman sold 35,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $41.82, for a total transaction of $1,463,700.00. Following the completion of the sale, the insider now owns 54,741 shares in the company, valued at approximately $2,289,268.62. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Auguste Goldman sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $43.73, for a total transaction of $43,730.00. Following the sale, the insider now owns 6,491 shares of the company’s stock, valued at approximately $283,851.43. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,317,964 shares of company stock valued at $539,128,744. 22.68% of the stock is currently owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in GDDY. Public Employees Retirement Association of Colorado grew its stake in GoDaddy by 66.8% in the 2nd quarter. Public Employees Retirement Association of Colorado now owns 2,462 shares of the technology company’s stock valued at $104,000 after buying an additional 986 shares in the last quarter. SG Americas Securities LLC purchased a new position in GoDaddy in the 2nd quarter valued at approximately $118,000. Sei Investments Co. grew its stake in GoDaddy by 160.4% in the 2nd quarter. Sei Investments Co. now owns 3,706 shares of the technology company’s stock valued at $158,000 after buying an additional 2,283 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in GoDaddy by 142.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,605 shares of the technology company’s stock valued at $195,000 after buying an additional 2,707 shares in the last quarter. Finally, CIBC Asset Management Inc purchased a new position in GoDaddy in the 2nd quarter valued at approximately $210,000. Institutional investors and hedge funds own 78.93% of the company’s stock.

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.

Analyst Recommendations for GoDaddy (NYSE:GDDY)

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