RBC Capital Remains a Buy on GoDaddy (GDDY)
In a report released today, Brad Erickson from RBC Capital maintained a Buy rating on GoDaddy, with a price target of $100.00.
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Erickson covers the Communication Services sector, focusing on stocks such as Alphabet Class A, Meta Platforms, and Angi. According to TipRanks, Erickson has an average return of 16.4% and a 50.81% success rate on recommended stocks.
In addition to RBC Capital, GoDaddy also received a Buy from TipRanks – Google’s Google Software – Infrastructure in a report issued today. However, on the same day, TipRanks – OpenAI reiterated a Hold rating on GoDaddy (NYSE: GDDY).
Based on GoDaddy’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $1.27 billion and a net profit of $210.5 million. In comparison, last year the company earned a revenue of $1.15 billion and had a net profit of $190.5 million
Based on the recent corporate insider activity of 73 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. Last month, Jared F. Sine, the Chief Strategy & Legal Officer of GDDY sold 683.00 shares for a total of $80,095.41.
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