GoDaddy (NYSE:GDDY) Given New $243.00 Price Target at Barclays

GoDaddy (NYSE:GDDY) had its price target hoisted by analysts at Barclays from $235.00 to $243.00 in a research note issued on Friday,Benzinga reports. The firm presently has an “overweight” rating on the technology company’s stock. Barclays‘s price target would indicate a potential upside of 27.44% from the company’s current price.

Other research analysts have also recently issued reports about the stock. StockNews.com cut shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 8th. Wells Fargo & Company assumed coverage on shares of GoDaddy in a research report on Monday, February 3rd. They set an “equal weight” rating and a $198.00 price target on the stock. Raymond James increased their price target on shares of GoDaddy from $185.00 to $230.00 and gave the company a “strong-buy” rating in a research report on Tuesday, January 21st. Royal Bank of Canada reiterated an “outperform” rating and set a $230.00 price target (up from $190.00) on shares of GoDaddy in a research report on Wednesday, December 4th. Finally, Jefferies Financial Group increased their price target on shares of GoDaddy from $170.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Six analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $204.53.

GoDaddy Price Performance

Shares of GDDY stock traded down $21.86 during trading on Friday, hitting $190.69. The company had a trading volume of 1,129,279 shares, compared to its average volume of 1,141,495. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 10.61. The stock’s 50-day moving average is $204.59 and its two-hundred day moving average is $179.30. The stock has a market capitalization of $26.77 billion, a price-to-earnings ratio of 14.81 and a beta of 1.15. GoDaddy has a 52 week low of $108.02 and a 52 week high of $216.00.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings data on Thursday, February 13th. The technology company reported $1.42 earnings per share for the quarter, missing the consensus estimate of $1.43 by ($0.01). GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. As a group, analysts predict that GoDaddy will post 4.96 EPS for the current fiscal year.

Insider Buying and Selling

In other GoDaddy news, Director Brian Sharples sold 500 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $207.70, for a total transaction of $103,850.00. Following the completion of the transaction, the director now owns 22,621 shares of the company’s stock, valued at approximately $4,698,381.70. This trade represents a 2.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $197.77, for a total value of $593,310.00. Following the transaction, the chief executive officer now owns 342,956 shares of the company’s stock, valued at $67,826,408.12. The trade was a 0.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,482 shares of company stock valued at $4,709,650 over the last quarter. 0.61% of the stock is owned by company insiders.

Hedge Funds Weigh In On GoDaddy

Several institutional investors and hedge funds have recently modified their holdings of the stock. Stifel Financial Corp increased its holdings in shares of GoDaddy by 89.1% during the fourth quarter. Stifel Financial Corp now owns 62,639 shares of the technology company’s stock valued at $12,363,000 after acquiring an additional 29,520 shares in the last quarter. TD Waterhouse Canada Inc. increased its holdings in shares of GoDaddy by 514.1% during the fourth quarter. TD Waterhouse Canada Inc. now owns 2,825 shares of the technology company’s stock valued at $557,000 after acquiring an additional 2,365 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of GoDaddy by 83.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 9,621 shares of the technology company’s stock valued at $1,899,000 after acquiring an additional 4,366 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of GoDaddy by 7,628.6% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 541 shares of the technology company’s stock valued at $107,000 after acquiring an additional 534 shares in the last quarter. Finally, Mirova increased its holdings in shares of GoDaddy by 3.2% during the fourth quarter. Mirova now owns 24,038 shares of the technology company’s stock valued at $4,744,000 after acquiring an additional 741 shares in the last quarter. 90.28% of the stock is currently owned by institutional investors.

About GoDaddy

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.