GoDaddy (GDDY) Receives a Buy from SunTrust Robinson

By Ryan Adsit

In a report released yesterday, Naved Khan from SunTrust Robinson maintained a Buy rating on GoDaddy (GDDYResearch Report), with a price target of $90. The company’s shares closed last Monday at $67.07.

Khan observed:

“We view the introduction of new marketing technology called the launch of integrated product suite called Websites + Marketing positively given that a) the move bolsters GoDaddy’s offering for small business marketing, which should arguably lead to higher ARPU and LTV over time and b) the offering should boost customer value proposition (given the promising early results) and help GoDaddy’s competitive positioning, both of which bode well for customer retention and acquisition, in our view. Note: We’ll be hosting a investor meeting with mgt in SF on Thursday, 9/18.”

According to TipRanks.com, Khan is a 5-star analyst with an average return of 17.9% and a 70.5% success rate. Khan covers the Technology sector, focusing on stocks such as Endurance International, Wix.com Ltd, and trivago NV.

Currently, the analyst consensus on GoDaddy is a Moderate Buy with an average price target of $87.50.

See today’s analyst top recommended stocks >>

The company has a one-year high of $84.97 and a one-year low of $56.67. Currently, GoDaddy has an average volume of 1.65M.

Based on the recent corporate insider activity of 105 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.