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Deutsche Bank Maintains GoDaddy (GDDY) to Buy with Price Target $34.00
Posted On Nov 06 2015
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GoDaddy’s (NYSE:GDDY) Q3 beat and raise and rosy outlook for worldwide expansion sent the Web-hosting and domain registrar firm’s stock soaring on Thursday. They set a “buy” rating for the company.
J.P. Morgan’s Sterling Auty is even more optimistic, raising his price target to $40 from a previous $37.
Third-quarter revenue rose 15.2% to $411.1mln year over year, topping the Wall Street consensus of $408.6mln. The company has a market cap of $4,269 million and the number of outstanding shares have been calculated to be 155,400,050 shares.
The company has also expanded its online store with new features, including the integration of GoDaddy Email Marketing; Shippo solution; and McAfee Secure Certification. Adjusted Ebitda was $87.7 million-above GoDaddy’s August projection of $82 million to $85 million.
Out of 8 analysts covering GoDaddy Inc (NYSE:GDDY), 8 rate it “Buy”, 0 “Sell”, while 0 “Hold”.
GoDaddy’s stock was up nearly 13% in midday trading on the stock market today.
The stock has a 50 day moving average price of $26.36 and a 200-day moving average price of $26.78.
GoDaddy reported a narrower-than-expected Q3 loss in the September quarter and said that it expects to be profitable in Q4. It now has negative earnings. RBC Capital maintained its bullish stance on the stock, along with an upward revision in its target price, from $31 to $36. GoDaddy Inc was the topic in 11 analyst reports since August 6, 2015 according to StockzIntelligence Inc. Oppenheimer’s target price would indicate a potential upside of 20.36% from the company’s close price. The Company is a technology provider to small businesses, Web design individuals and professionals, delivering cloud-based products and result-driven, personalized Customer Attention. The organization operates domain market, where its clients can realize that piece of digital real estate that matches their idea. Additionally, it supplies applications which help its customers are connected to by its customers, manage and grow their businesses and get found online. The Company’s products include domain, hosting and presence and business applications.
