GoDaddy (NYSE:GDDY) PT Raised to $107.00 at Barclays

GoDaddy (NYSE:GDDYGet Rating) had its price target hoisted by investment analysts at Barclays from $104.00 to $107.00 in a research note issued on Thursday, The Fly reports. The brokerage presently has an “overweight” rating on the technology company’s stock. Barclays‘s price target points to a potential upside of 35.56% from the company’s current price.

A number of other research firms have also recently weighed in on GDDY. Morgan Stanley decreased their price objective on GoDaddy from $95.00 to $91.00 and set an “equal weight” rating for the company in a research report on Thursday, July 14th. Piper Sandler raised GoDaddy from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $94.00 to $110.00 in a research report on Monday, April 25th. Benchmark increased their price objective on GoDaddy from $102.00 to $106.00 and gave the stock a “buy” rating in a research report on Thursday, May 5th. Finally, Jefferies Financial Group decreased their price objective on GoDaddy from $110.00 to $100.00 in a research report on Tuesday, May 31st. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, GoDaddy currently has an average rating of “Buy” and a consensus target price of $102.14.

GoDaddy Stock Up 1.9 %

Shares of NYSE GDDY opened at $78.93 on Thursday. The stock has a market cap of $12.79 billion, a PE ratio of 38.13 and a beta of 0.95. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 46.37. GoDaddy has a 52-week low of $64.81 and a 52-week high of $88.32. The business has a 50-day moving average price of $71.60 and a 200 day moving average price of $76.61.

GoDaddy (NYSE:GDDYGet Rating) last announced its earnings results on Wednesday, May 4th. The technology company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.01). The firm had revenue of $1 billion during the quarter, compared to analyst estimates of $989.20 million. GoDaddy had a net margin of 8.58% and a negative return on equity of 211.78%. The firm’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same period last year, the company earned $0.06 earnings per share. Equities research analysts forecast that GoDaddy will post 2.16 earnings per share for the current year.

Insider Transactions at GoDaddy

In other news, CFO Mark Mccaffrey sold 9,776 shares of the stock in a transaction that occurred on Tuesday, July 5th. The stock was sold at an average price of $69.86, for a total transaction of $682,951.36. Following the completion of the transaction, the chief financial officer now directly owns 84,950 shares of the company’s stock, valued at approximately $5,934,607. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CFO Mark Mccaffrey sold 9,776 shares of the firm’s stock in a transaction that occurred on Tuesday, July 5th. The stock was sold at an average price of $69.86, for a total value of $682,951.36. Following the completion of the transaction, the chief financial officer now directly owns 84,950 shares of the company’s stock, valued at approximately $5,934,607. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michele Lau sold 7,274 shares of the firm’s stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $73.88, for a total value of $537,403.12. Following the completion of the transaction, the insider now directly owns 63,009 shares of the company’s stock, valued at $4,655,104.92. The disclosure for this sale can be found here. In the last three months, insiders sold 20,716 shares of company stock valued at $1,482,907. Corporate insiders own 0.37% of the company’s stock.

Hedge Funds Weigh In On GoDaddy

Hedge funds have recently bought and sold shares of the company. FDx Advisors Inc. increased its stake in GoDaddy by 27.2% in the 1st quarter. FDx Advisors Inc. now owns 19,064 shares of the technology company’s stock valued at $1,596,000 after purchasing an additional 4,075 shares in the last quarter. Simcoe Capital Management LLC purchased a new position in GoDaddy during the fourth quarter worth $21,662,000. Acadian Asset Management LLC increased its position in GoDaddy by 300.0% during the fourth quarter. Acadian Asset Management LLC now owns 11,517 shares of the technology company’s stock worth $976,000 after buying an additional 8,638 shares in the last quarter. Point72 Asset Management L.P. increased its position in GoDaddy by 55.9% during the fourth quarter. Point72 Asset Management L.P. now owns 763,600 shares of the technology company’s stock worth $64,799,000 after buying an additional 273,773 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC increased its position in GoDaddy by 179.0% during the first quarter. Steward Partners Investment Advisory LLC now owns 558 shares of the technology company’s stock worth $47,000 after buying an additional 358 shares in the last quarter. 98.38% of the stock is owned by hedge funds and other institutional investors.

About GoDaddy

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GoDaddy Inc engages in the design and development of cloud-based technology products in the United States and internationally. The company provides domain name registration product that enables to engage customers at the initial stage of establishing a digital identity. It also offers shared Website hosting products that provide various applications and products, such as web analytics, Secure Sockets Layer certificates, and WordPress; Website hosting on virtual private servers and virtual dedicated servers products, which allows customers to select the server configuration suited for their applications, requirements, and growth; managed hosting products to set up, monitor, maintain, secure, and patch software and servers for customers; and security products, a suite of tools designed to help secure customers' online presence.

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