Worth Watching: Could Godaddy Inc Go Down After Touching All-Time High?

Worth Watching: Could Godaddy Inc Go Down After Touching All Time High?

The stock of Godaddy Inc (NYSE:GDDY) reached all time high today, Nov, 25 and still has $39.03 target or 6.00% above today’s $36.82 share price. This indicates more upside for the $6.17B company. This technical setup was reported by Barchart.com. If the $39.03 PT is reached, the company will be worth $370.20 million more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. The stock increased 1.02% or $0.37 during the last trading session, hitting $36.82. About 304,480 shares traded hands. Godaddy Inc (NYSE:GDDY) has risen 20.70% since April 22, 2016 and is uptrending. It has outperformed by 15.29% the S&P500.

Analysts await Godaddy Inc (NYSE:GDDY) to report earnings on February, 15. GDDY’s profit will be $10.05 million for 153.42 P/E if the $0.06 EPS becomes a reality. After $0.05 actual EPS reported by Godaddy Inc for the previous quarter, Wall Street now forecasts 20.00% EPS growth.

Godaddy Inc (NYSE:GDDY) Ratings Coverage

Out of 15 analysts covering GoDaddy Inc (NYSE:GDDY), 11 rate it a “Buy”, 1 “Sell”, while 3 “Hold”. This means 73% are positive. GoDaddy Inc has been the topic of 28 analyst reports since August 6, 2015 according to StockzIntelligence Inc. The stock of Godaddy Inc (NYSE:GDDY) has “Buy” rating given on Tuesday, October 18 by Deutsche Bank. B. RIley initiated the stock with “Neutral” rating in Friday, April 15 report. Citigroup downgraded the stock to “Neutral” rating in Tuesday, June 7 report. UBS initiated the shares of GDDY in a report on Thursday, October 22 with “Buy” rating. Monness Crespi & Hardt initiated it with “Buy” rating and $31 target price in Wednesday, August 12 report. The firm has “Buy” rating given on Friday, August 7 by Barclays Capital. The stock of Godaddy Inc (NYSE:GDDY) earned “Buy” rating by Deutsche Bank on Thursday, August 4. Monness Crespi & Hardt maintained the shares of GDDY in a report on Friday, December 18 with “Buy” rating. The rating was maintained by Citigroup on Monday, August 31 with “Buy”. The rating was maintained by RBC Capital Markets with “Outperform” on Thursday, November 3.

According to Zacks Investment Research, “GoDaddy, Inc. is engaged in the designing and development of cloud-based technology products for small businesses, Web design professionals and individuals. The Company’s products include domain, hosting and presence and business applications. GoDaddy, Inc. is headquartered in Scottsdale, Arizona.”

More recent Godaddy Inc (NYSE:GDDY) news were published by: Marketwatch.com which released: “GoDaddy downgraded to neutral from buy on valuation concerns” on November 01, 2016. Also Reuters.com published the news titled: “GoDaddy in exclusive talks to buy Host Europe: sources” on November 24, 2016. Seekingalpha.com‘s news article titled: “GoDaddy in talks to buy Host Europe” with publication date: November 25, 2016 was also an interesting one.

GDDY Company Profile

GoDaddy Inc., incorporated on May 28, 2014, is a technology well-known provider to small businesses, Web design professionals and individuals. The Firm delivers cloud products and personalized customer care. The Firm operates a domain marketplace, where its clients can find the digital real estate that matches their idea. It provides Website building, hosting and security tools to help clients construct and protect online presence. It provides applications that enable connecting to clients and managing businesses. The Firm provides search, discovery and recommendation tools, as well as a selection of domain name for ventures. The Firm provides productivity tools, such as domain-specific e-mail, online storage, invoicing, bookkeeping and payment solutions to run ventures, as well as marketing products.

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