Royal Bank of Canada Raises GoDaddy (NYSE:GDDY) Price Target to $190.00

GoDaddy (NYSE:GDDY) had its price target raised by equities researchers at Royal Bank of Canada from $175.00 to $190.00 in a report issued on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the technology company’s stock. Royal Bank of Canada’s price target points to a potential upside of 15.40% from the company’s previous close.

GDDY has been the topic of several other reports. StockNews.com raised GoDaddy from a “buy” rating to a “strong-buy” rating in a research report on Thursday. Barclays raised their price objective on GoDaddy from $165.00 to $185.00 and gave the company an “overweight” rating in a research report on Wednesday, September 25th. B. Riley raised their price objective on GoDaddy from $170.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday. Raymond James raised their price objective on GoDaddy from $150.00 to $175.00 and gave the company a “strong-buy” rating in a research report on Friday, August 2nd. Finally, Benchmark raised their target price on GoDaddy from $186.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday. Five analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $171.38.

GoDaddy Trading Down 1.3 %

Shares of GDDY traded down $2.16 during trading hours on Friday, hitting $164.64. The stock had a trading volume of 673,044 shares, compared to its average volume of 1,463,735. 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 firm has a market cap of $23.21 billion, a P/E ratio of 12.70 and a beta of 1.12. The company’s fifty day simple moving average is $159.17 and its 200 day simple moving average is $146.82. GoDaddy has a 12-month low of $74.12 and a 12-month high of $171.93.

GoDaddy (NYSE:GDDY) last released its quarterly earnings data on Wednesday, October 30th. The technology company reported $1.32 EPS for the quarter, beating the consensus estimate of $1.25 by $0.07. GoDaddy had a return on equity of 313.25% and a net margin of 41.74%. The company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same period last year, the company posted $0.89 earnings per share. The firm’s revenue was up 7.3% compared to the same quarter last year. Equities research analysts forecast that GoDaddy will post 5.07 EPS for the current fiscal year.

Insider Buying and Selling

In related news, COO Roger Chen sold 1,000 shares of GoDaddy stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $164.16, for a total value of $164,160.00. Following the completion of the transaction, the chief operating officer now directly owns 186,632 shares in the company, valued at approximately $30,637,509.12. This trade represents 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 accessible through this link. In other GoDaddy news, CEO Amanpal Singh Bhutani sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $166.91, for a total value of $500,730.00. Following the transaction, the chief executive officer now owns 358,773 shares of the company’s stock, valued at $59,882,801.43. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Roger Chen sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $164.16, for a total transaction of $164,160.00. Following the completion of the transaction, the chief operating officer now directly owns 186,632 shares in the company, valued at $30,637,509.12. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 25,744 shares of company stock worth $4,089,571. Corporate insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On GoDaddy

Hedge funds have recently made changes to their positions in the business. ORG Wealth Partners LLC bought a new stake in shares of GoDaddy during the third quarter valued at approximately $30,000. Transcendent Capital Group LLC bought a new stake in shares of GoDaddy during the second quarter valued at approximately $28,000. ORG Partners LLC bought a new stake in shares of GoDaddy during the second quarter valued at approximately $32,000. International Assets Investment Management LLC bought a new stake in shares of GoDaddy during the second quarter valued at approximately $36,000. Finally, Carolina Wealth Advisors LLC bought a new stake in GoDaddy during the third quarter worth approximately $49,000. Institutional investors own 90.28% of the company’s stock.

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.