Piper Sandler Remains a Buy on GoDaddy (GDDY)

By Ryan Adsit

In a report released today, Brent Bracelin from Piper Sandler maintained a Buy rating on GoDaddy (GDDYResearch Report), with a price target of $88.00. The company’s shares closed last Monday at $70.87.

According to TipRanks.com, Bracelin is a top 25 analyst with an average return of 31.8% and a 80.1% success rate. Bracelin covers the Technology sector, focusing on stocks such as Slack Technologies, Veeva Systems, and Salesforce.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for GoDaddy with a $89.20 average price target, implying a 27.0% upside from current levels. In a report released yesterday, SunTrust Robinson also reiterated a Buy rating on the stock with a $94.00 price target.

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The company has a one-year high of $82.30 and a one-year low of $59.93. Currently, GoDaddy has an average volume of 1.18M.

Based on the recent corporate insider activity of 112 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.