GoDaddy (NYSE:GDDY) Price Target Raised to $185.00

GoDaddy (NYSE:GDDY) had its price objective boosted by Barclays from $165.00 to $185.00 in a research note released on Wednesday, Benzinga reports. Barclays currently has an overweight rating on the technology company’s stock.

A number of other research analysts also recently weighed in on GDDY. Royal Bank of Canada lifted their price target on GoDaddy from $145.00 to $175.00 and gave the company an outperform rating in a report on Monday, August 5th. Piper Sandler reissued a neutral rating and issued a $172.00 price target (up from $160.00) on shares of GoDaddy in a research report on Monday, September 23rd. Robert W. Baird boosted their price objective on shares of GoDaddy from $175.00 to $190.00 and gave the company an outperform rating in a research report on Friday, August 2nd. Benchmark increased their target price on shares of GoDaddy from $170.00 to $186.00 and gave the stock a buy rating in a research report on Monday, August 26th. Finally, Cantor Fitzgerald reissued a neutral rating and set a $170.00 target price on shares of GoDaddy in a research note on Monday, September 23rd. Six investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, GoDaddy has an average rating of Moderate Buy and an average target price of $166.54.

GoDaddy Stock Performance

Shares of GDDY opened at $156.01 on Wednesday. GoDaddy has a one year low of $71.15 and a one year high of $167.65. The company has a 50-day moving average of $155.31 and a two-hundred day moving average of $139.98. The stock has a market cap of $22.26 billion, a price-to-earnings ratio of 12.96 and a beta of 1.13. The company has a debt-to-equity ratio of 24.13, a current ratio of 0.48 and a quick ratio of 0.48.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings results on Thursday, August 1st. The technology company reported $1.01 EPS for the quarter, missing the consensus estimate 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 quarter last year, the company posted $0.63 EPS. The firm’s revenue was up 7.3% compared to the same quarter last year. On average, equities research analysts expect that GoDaddy will post 5.06 earnings per share for the current year.

Insiders Place Their Bets

In other news, COO Roger Chen sold 4,000 shares of the business’s stock in a transaction 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 sale, the chief operating officer now directly owns 192,632 shares in the company, valued at $26,928,027.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CAO Nick Daddario sold 2,976 shares of GoDaddy stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $151.61, for a total value of $451,191.36. Following the transaction, the chief accounting officer now directly owns 14,728 shares in the company, valued at $2,232,912.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Roger Chen sold 4,000 shares of the 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 sale, the chief operating officer now owns 192,632 shares of the company’s stock, valued at approximately $26,928,027.28. The disclosure for this sale can be found here. Insiders sold 31,744 shares of company stock valued at $4,816,386 over the last 90 days. 0.61% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. V Square Quantitative Management LLC bought a new position in GoDaddy during the fourth quarter worth $28,000. Transcendent Capital Group LLC acquired a new position in shares of GoDaddy during the second quarter valued at about $28,000. GAMMA Investing LLC lifted its stake in shares of GoDaddy by 102.3% in the first quarter. GAMMA Investing LLC now owns 263 shares of the technology company’s stock valued at $31,000 after buying an additional 133 shares during the period. ORG Partners LLC acquired a new stake in GoDaddy during the second quarter worth about $32,000. Finally, International Assets Investment Management LLC bought a new position in GoDaddy during the second quarter valued at about $36,000. 90.28% of the stock is currently owned by institutional investors and hedge funds.

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.