GoDaddy (NYSE:GDDY) Given New $190.00 Price Target at B. Riley

GoDaddy (NYSE:GDDY) had its price target lifted by stock analysts at B. Riley from $170.00 to $190.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. B. Riley’s price objective suggests a potential upside of 13.75% from the company’s previous close.

Several other brokerages have also issued reports on GDDY. Royal Bank of Canada raised their price objective on GoDaddy from $145.00 to $175.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Robert W. Baird boosted their price target on GoDaddy from $190.00 to $200.00 and gave the company an “outperform” rating in a research report on Thursday. Benchmark boosted their target price on GoDaddy from $186.00 to $200.00 and gave the company a “buy” rating in a report on Thursday. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $170.00 price objective on shares of GoDaddy in a report on Monday, October 7th. Finally, Raymond James increased their price objective on GoDaddy from $150.00 to $175.00 and gave the stock a “strong-buy” rating in a research report on Friday, August 2nd. Five investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, GoDaddy currently has an average rating of “Moderate Buy” and a consensus price target of $170.23.

GoDaddy Trading Up 3.4 %

GoDaddy stock traded up $5.43 during trading on Thursday, hitting $167.03. The company had a trading volume of 1,401,274 shares, compared to its average volume of 1,461,654. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 24.13. The company’s 50 day simple moving average is $159.08 and its 200-day simple moving average is $146.68. GoDaddy has a 1-year low of $72.14 and a 1-year high of $171.74. The stock has a market cap of $23.83 billion, a price-to-earnings ratio of 13.88 and a beta of 1.12.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings data on Wednesday, October 30th. The technology company reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.07. GoDaddy had a negative return on equity of 709.73% and a net margin of 41.12%. The business had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.14 billion. During the same period last year, the firm earned $0.89 earnings per share. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. As a group, analysts expect that GoDaddy will post 5.07 EPS for the current fiscal year.

Insider Activity

In other GoDaddy news, Director Sigal Zarmi sold 400 shares of GoDaddy stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $157.61, for a total transaction of $63,044.00. Following the transaction, the director now directly owns 4,661 shares of the company’s stock, valued at $734,620.21. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other GoDaddy news, COO Roger Chen sold 1,000 shares of the business’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $164.16, for a total transaction of $164,160.00. Following the completion of the sale, the chief operating officer now owns 186,632 shares in the company, valued at $30,637,509.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Sigal Zarmi sold 400 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $157.61, for a total value of $63,044.00. Following the sale, the director now owns 4,661 shares in the company, valued at $734,620.21. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 25,744 shares of company stock valued at $4,089,571 in the last 90 days. 0.61% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its holdings in shares of GoDaddy by 94.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,655,994 shares of the technology company’s stock worth $433,895,000 after acquiring an additional 1,775,708 shares during the last quarter. Kodai Capital Management LP acquired a new stake in GoDaddy in the 1st quarter worth $75,855,000. Federated Hermes Inc. lifted its position in shares of GoDaddy by 35.6% in the 2nd quarter. Federated Hermes Inc. now owns 1,501,277 shares of the technology company’s stock worth $209,743,000 after acquiring an additional 394,399 shares during the period. Wedge Capital Management L L P NC raised its stake in shares of GoDaddy by 2,279.5% in the 3rd quarter. Wedge Capital Management L L P NC now owns 401,249 shares of the technology company’s stock valued at $62,908,000 after buying an additional 384,386 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in GoDaddy by 2.6% in the first quarter. Vanguard Group Inc. now owns 14,733,764 shares of the technology company’s stock worth $1,748,603,000 after purchasing an additional 379,228 shares during the period. Institutional investors own 90.28% of the company’s stock.

GoDaddy Company Profile

GoDaddy Inc engages in the design and development of cloud-based products in the United States and internationally. It operates through two segments: Applications and Commerce, and Core Platform. The Applications and Commerce segment provides applications products, including Websites + Marketing, a mobile-optimized online tool that enables customers to build websites and e-commerce enabled online stores; and Managed WordPress, a streamlined and optimized website building that allows customers to easily build and manage a faster WordPress site; Managed WooCommerce Stores to sell anything and anywhere online; and marketing tools and services, such as GoDaddy Studio mobile application, search engine optimization, Meta and Google My Business, and email and social media marketing designed to help businesses acquire and engage customers and create content.