GoDaddy (NYSE:GDDY) Price Target Raised to $200.00

GoDaddy (NYSE:GDDY) had its price target lifted by analysts at Robert W. Baird from $190.00 to $200.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the technology company’s stock. Robert W. Baird’s target price suggests a potential upside of 23.72% from the stock’s current price.

GDDY has been the subject of several other reports. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $170.00 target price on shares of GoDaddy in a research note on Monday, October 7th. Piper Sandler reiterated a “neutral” rating and issued a $172.00 target price (up from $160.00) on shares of GoDaddy in a research report on Monday, September 23rd. Raymond James raised their target price on shares of GoDaddy from $150.00 to $175.00 and gave the company a “strong-buy” rating in a report on Friday, August 2nd. Barclays increased their price objective on shares of GoDaddy from $165.00 to $185.00 and gave the company an “overweight” rating in a research report on Wednesday, September 25th. Finally, Benchmark restated a “buy” rating and set a $186.00 target price on shares of GoDaddy in a research report on Tuesday, October 15th. Five analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, GoDaddy presently has an average rating of “Moderate Buy” and a consensus target price of $167.62.

GoDaddy Trading Up 0.2 %

Shares of GoDaddy stock opened at $161.66 on Thursday. GoDaddy has a fifty-two week low of $72.14 and a fifty-two week high of $167.65. The company has a debt-to-equity ratio of 24.13, a quick ratio of 0.48 and a current ratio of 0.48. The company has a market capitalization of $23.07 billion, a P/E ratio of 13.43 and a beta of 1.12. The company has a fifty day moving average of $159.08 and a 200 day moving average of $146.68.

GoDaddy (NYSE:GDDY) last released its earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter last year, the business posted $0.89 earnings per share. The firm’s revenue was up 7.3% on a year-over-year basis. On average, sell-side analysts anticipate that GoDaddy will post 5.07 earnings per share for the current fiscal year.

Insider Activity

In other GoDaddy news, Director Sigal Zarmi sold 400 shares of the stock in a transaction dated 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 in the company, valued at $734,620.21. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other GoDaddy news, Director Sigal Zarmi sold 400 shares of the 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 sale, the director now owns 4,661 shares of the company’s stock, valued at approximately $734,620.21. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Mark Mccaffrey sold 5,500 shares of the company’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $164.75, for a total value of $906,125.00. Following the sale, the chief financial officer now owns 101,286 shares of the company’s stock, valued at $16,686,868.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 25,744 shares of company stock worth $4,089,571. Company insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On GoDaddy

Large investors have recently made changes to their positions in the business. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in GoDaddy by 0.4% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 18,097 shares of the technology company’s stock worth $2,837,000 after buying an additional 67 shares during the last quarter. Whittier Trust Co. increased its holdings in shares of GoDaddy by 4.3% during the second quarter. Whittier Trust Co. now owns 1,781 shares of the technology company’s stock valued at $249,000 after acquiring an additional 74 shares in the last quarter. Optas LLC grew its position in GoDaddy by 5.8% during the 3rd quarter. Optas LLC now owns 2,091 shares of the technology company’s stock worth $328,000 after purchasing an additional 114 shares during the last quarter. Atomi Financial Group Inc. increased its stake in GoDaddy by 7.6% during the 3rd quarter. Atomi Financial Group Inc. now owns 1,861 shares of the technology company’s stock valued at $292,000 after purchasing an additional 131 shares in the last quarter. Finally, Signaturefd LLC increased its stake in GoDaddy by 6.3% during the 2nd quarter. Signaturefd LLC now owns 2,480 shares of the technology company’s stock valued at $346,000 after purchasing an additional 148 shares in the last quarter. 90.28% of the stock is 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.