After Truist Financial and RBC Capital gave GoDaddy (NYSE: GDDY) a Buy rating last month, the company received another Buy, this time from Oppenheimer. Analyst Jason Helfstein assigned a Buy rating to GoDaddy today and set a price target of $83.00. The company’s shares closed last Wednesday at $74.45.
According to TipRanks.com, Helfstein is a top 25 analyst with an average return of 31.1% and a 74.5% success rate. Helfstein covers the Technology sector, focusing on stocks such as Spotify Technology SA, Fiverr International, and ANGI Homeservices.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for GoDaddy with a $86.18 average price target, implying a 17.3% upside from current levels. In a report issued on August 2, RBC Capital also maintained a Buy rating on the stock with a $93.00 price target.
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Based on GoDaddy’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $792 million and net profit of $42.9 million. In comparison, last year the company earned revenue of $710 million and had a net profit of $12.9 million.
Based on the recent corporate insider activity of 76 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.
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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.