After SunTrust Robinson and Barclays gave GoDaddy (NYSE: GDDY) a Buy rating last month, the company received another Buy, this time from Piper Sandler. Analyst Michael Olson maintained a Buy rating on GoDaddy today and set a price target of $82.00. The company’s shares closed last Thursday at $74.00, close to its 52-week high of $79.20.
According to TipRanks.com, Olson is a top 25 analyst with an average return of 22.9% and a 69.2% success rate. Olson covers the Technology sector, focusing on stocks such as Mercadolibre, Apple, and Zynga.
GoDaddy has an analyst consensus of Strong Buy, with a price target consensus of $82.50, implying a 13.2% upside from current levels. In a report issued on April 23, RBC Capital also maintained a Buy rating on the stock with a $71.00 price target.
See today’s analyst top recommended stocks >>
Based on GoDaddy’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $780 million and net profit of $60.5 million. In comparison, last year the company earned revenue of $696 million and had a net profit of $42.5 million.
Based on the recent corporate insider activity of 87 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of GDDY in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
GoDaddy, Inc. engages in the provision of domain name registration and web hosting services. It provides website building, hosting, and security tools. The company was founded by Robert R. Parsons on January 1997 and is headquartered in Scottsdale, AZ.
Read More on GDDY:
