GoDaddy (NYSE:GDDY) Given New $227.00 Price Target at Morgan Stanley

GoDaddy (NYSE:GDDY) had its price objective lifted by research analysts at Morgan Stanley from $189.00 to $227.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the technology company’s stock. Morgan Stanley’s price objective suggests a potential upside of 15.17% from the stock’s current price.

GDDY has been the subject of a number of other research reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $230.00 price target (up previously from $190.00) on shares of GoDaddy in a research report on Wednesday, December 4th. Piper Sandler lifted their target price on GoDaddy from $172.00 to $176.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Robert W. Baird increased their price target on shares of GoDaddy from $200.00 to $225.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. JPMorgan Chase & Co. lifted their price objective on shares of GoDaddy from $175.00 to $224.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Finally, Jefferies Financial Group increased their price objective on shares of GoDaddy from $170.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Five research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $194.14.

GoDaddy Price Performance

Shares of GDDY stock opened at $197.10 on Monday. GoDaddy has a fifty-two week low of $103.64 and a fifty-two week high of $211.11. The company has a debt-to-equity ratio of 10.61, a quick ratio of 0.56 and a current ratio of 0.56. The firm has a market capitalization of $27.67 billion, a price-to-earnings ratio of 15.23 and a beta of 1.15. The stock’s 50-day simple moving average is $197.41 and its 200-day simple moving average is $170.17.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.07. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. The business had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the prior year, the business posted $0.89 EPS. GoDaddy’s revenue for the quarter was up 7.3% compared to the same quarter last year. As a group, equities analysts forecast that GoDaddy will post 4.96 earnings per share for the current fiscal year.

Insider Buying and Selling at GoDaddy

In other GoDaddy news, Director Brian Sharples sold 500 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $179.00, for a total transaction of $89,500.00. Following the transaction, the director now directly owns 24,121 shares of the company’s stock, valued at $4,317,659. This trade represents a 2.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $167.79, for a total transaction of $503,370.00. Following the sale, the chief executive officer now directly owns 345,956 shares of the company’s stock, valued at $58,047,957.24. This represents a 0.86 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,003 shares of company stock valued at $4,462,363. Company insiders own 0.61% of the company’s stock.

Institutional Trading of GoDaddy

A number of institutional investors have recently made changes to their positions in the company. Fiera Capital Corp lifted its holdings in GoDaddy by 1.6% in the 2nd quarter. Fiera Capital Corp now owns 828,326 shares of the technology company’s stock valued at $115,725,000 after purchasing an additional 13,206 shares in the last quarter. Wedbush Securities Inc. acquired a new position in GoDaddy during the second quarter worth about $213,000. Choreo LLC purchased a new stake in GoDaddy during the 2nd quarter valued at about $205,000. American Century Companies Inc. raised its holdings in GoDaddy by 374.3% in the 2nd quarter. American Century Companies Inc. now owns 150,451 shares of the technology company’s stock valued at $21,020,000 after acquiring an additional 118,731 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its stake in GoDaddy by 31.9% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 47,022 shares of the technology company’s stock worth $6,652,000 after purchasing an additional 11,368 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.