Positive Report for GoDaddy from B. Riley

By Carrie Williams

GoDaddy (NYSE: GDDY) received a Buy rating and a $45 price target from B. Riley analyst Sameet Sinha today. The company’s shares closed yesterday at $35.32, close to its 52-week high of $36.96.

According to TipRanks.com, Sinha is a 4-star analyst with an average return of 7.8% and a 62.3% success rate. Sinha covers the Technology sector, focusing on stocks such as Points International, Limelight Networks, and Rubicon Technology.

Currently, the analyst consensus on GoDaddy is Strong Buy and the average price target is $43, representing a 21.7% upside.

In a report released yesterday, Piper Jaffray also reiterated a Buy rating on the stock with a $50 price target.

Based on GoDaddy’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $472 million and quarterly net profit of $4.8 million. In comparison, last year the company earned revenue of $411 million and had a GAAP net loss of $2.5 million.

Based on the recent corporate insider activity of 75 insiders, corporate insider sentiment is neutral on the stock. Most recently, in August 2016, Matthew Kelpy, the Chief Accounting Officer of GDDY sold 6,000 shares for a total of $198,000.

GoDaddy, Inc. engages in the provision of domain name registration and web hosting services. Its products and services include domain name registration, web hosting and storage, Marketing tools, Email tools and professional services. The company was founded by Bob Parsons on January 1997 and is headquartered in Scottsdale, AZ.