GoDaddy (NYSE:GDDY) Price Target Raised to $251.00

GoDaddy (NYSE:GDDY) had its target price increased by Citigroup from $240.00 to $251.00 in a research note issued to investors on Friday morning,Benzinga reports. They currently have a buy rating on the technology company’s stock.

Other research analysts have also recently issued research reports about the stock. Cantor Fitzgerald restated a “neutral” rating and issued a $170.00 target price on shares of GoDaddy in a report on Monday, October 7th. Barclays upped their price objective on shares of GoDaddy from $165.00 to $185.00 and gave the company an “overweight” rating in a research note on Wednesday, September 25th. JPMorgan Chase & Co. lifted their target price on GoDaddy from $175.00 to $224.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Piper Sandler upped their target price on GoDaddy from $172.00 to $176.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Finally, B. Riley lifted their price target on GoDaddy from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Five equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $187.71.

GoDaddy Stock Up 0.7 %

Shares of NYSE GDDY opened at $200.39 on Friday. The business has a 50-day moving average of $192.89 and a two-hundred day moving average of $167.16. The company has a market capitalization of $28.13 billion, a price-to-earnings ratio of 15.49 and a beta of 1.15. GoDaddy has a 1 year low of $99.90 and a 1 year high of $211.11. The company has a debt-to-equity ratio of 10.61, a current ratio of 0.56 and a quick ratio of 0.56.

GoDaddy (NYSE:GDDY) last posted its earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.07. The firm had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.14 billion. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. The firm’s revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.89 earnings per share. On average, analysts forecast that GoDaddy will post 4.96 earnings per share for the current fiscal year.

Insider Transactions at GoDaddy

In other GoDaddy news, COO Roger Chen sold 1,000 shares of GoDaddy stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $164.16, for a total value of $164,160.00. Following the sale, the chief operating officer now owns 186,632 shares of the company’s stock, valued at approximately $30,637,509.12. The trade was a 0.53 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $167.79, for a total value of $503,370.00. Following the transaction, the chief executive officer now directly owns 345,956 shares of the company’s stock, valued at approximately $58,047,957.24. This trade represents a 0.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 15,003 shares of company stock worth $2,835,433 over the last 90 days. 0.61% of the stock is currently owned by insiders.

Institutional Investors Weigh In On GoDaddy

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of GoDaddy by 0.4% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 18,097 shares of the technology company’s stock valued at $2,837,000 after purchasing an additional 67 shares in the last quarter. Prime Capital Investment Advisors LLC grew its position in GoDaddy by 4.0% during the third quarter. Prime Capital Investment Advisors LLC now owns 1,885 shares of the technology company’s stock worth $296,000 after buying an additional 73 shares during the period. Lindbrook Capital LLC increased its holdings in GoDaddy by 11.3% in the third quarter. Lindbrook Capital LLC now owns 974 shares of the technology company’s stock valued at $153,000 after buying an additional 99 shares in the last quarter. Equitable Trust Co. lifted its position in shares of GoDaddy by 1.3% during the 3rd quarter. Equitable Trust Co. now owns 8,435 shares of the technology company’s stock valued at $1,322,000 after acquiring an additional 107 shares during the period. Finally, Covestor Ltd boosted its stake in shares of GoDaddy by 22.4% during the 3rd quarter. Covestor Ltd now owns 590 shares of the technology company’s stock worth $93,000 after acquiring an additional 108 shares in the last quarter. Institutional investors and hedge funds own 90.28% of the company’s stock.

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.