GoDaddy (NYSE:GDDY) Receives “Neutral” Rating from Piper Sandler

Piper Sandler reissued their neutral rating on shares of GoDaddy (NYSE:GDDY) in a report issued on Monday, Marketbeat.com reports. They currently have a $172.00 price target on the technology company’s stock, up from their prior price target of $160.00.

GDDY has been the topic of several other reports. JPMorgan Chase & Co. raised their price objective on GoDaddy from $136.00 to $175.00 and gave the company an overweight rating in a report on Wednesday, May 29th. StockNews.com cut shares of GoDaddy from a strong-buy rating to a buy rating in a research note on Wednesday, August 7th. Barclays increased their price objective on shares of GoDaddy from $150.00 to $165.00 and gave the company an overweight rating in a report on Friday, August 2nd. Citigroup boosted their target price on shares of GoDaddy from $150.00 to $165.00 and gave the stock a buy rating in a research note on Friday, May 31st. Finally, Raymond James raised their price target on shares of GoDaddy from $150.00 to $175.00 and gave the company a strong-buy rating in a research note on Friday, August 2nd. Six 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.com, the company has a consensus rating of Moderate Buy and a consensus target price of $166.54.

GoDaddy Price Performance

Shares of NYSE GDDY opened at $155.63 on Monday. The company has a debt-to-equity ratio of 24.13, a current ratio of 0.48 and a quick ratio of 0.48. The stock has a market capitalization of $22.21 billion, a price-to-earnings ratio of 12.93 and a beta of 1.13. The firm’s 50 day simple moving average is $155.31 and its 200-day simple moving average is $139.98. GoDaddy has a 12 month low of $71.15 and a 12 month high of $167.65.

GoDaddy (NYSE:GDDY) last released its quarterly earnings data on Thursday, August 1st. The technology company reported $1.01 earnings per share for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.06). GoDaddy had a net margin of 41.12% and a negative return on equity of 709.73%. The firm had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.11 billion. During the same period in the previous year, the firm posted $0.63 EPS. The firm’s quarterly revenue was up 7.3% on a year-over-year basis. Analysts expect that GoDaddy will post 5.06 EPS for the current year.

Insiders Place Their Bets

In other news, Director Sigal Zarmi sold 400 shares of GoDaddy stock in a transaction on Friday, August 9th. The stock was sold at an average price of $157.61, for a total transaction of $63,044.00. Following the transaction, the director now owns 4,661 shares in the company, valued at approximately $734,620.21. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Sigal Zarmi sold 400 shares of the firm’s 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 completion of the sale, the director now owns 4,661 shares in the company, valued at approximately $734,620.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Roger Chen sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $139.79, for a total value of $559,160.00. Following the completion of the transaction, the chief operating officer now owns 192,632 shares in the company, valued at $26,928,027.28. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 31,744 shares of company stock valued at $4,816,386. Insiders own 0.61% of the company’s stock.

Institutional Trading of GoDaddy

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in shares of GoDaddy by 2.6% during the first quarter. Vanguard Group Inc. now owns 14,733,764 shares of the technology company’s stock valued at $1,748,603,000 after acquiring an additional 379,228 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in GoDaddy by 94.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,655,994 shares of the technology company’s stock valued at $433,895,000 after purchasing an additional 1,775,708 shares during the period. Federated Hermes Inc. lifted its stake in GoDaddy by 35.6% during the second quarter. Federated Hermes Inc. now owns 1,501,277 shares of the technology company’s stock worth $209,743,000 after purchasing an additional 394,399 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of GoDaddy by 13.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 905,858 shares of the technology company’s stock worth $96,166,000 after buying an additional 110,076 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in shares of GoDaddy by 37.7% in the second quarter. Dimensional Fund Advisors LP now owns 861,066 shares of the technology company’s stock valued at $120,305,000 after buying an additional 235,934 shares in the last quarter. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

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.