Brokerages Set GoDaddy Inc. (NYSE:GDDY) PT at $135.18

Shares of GoDaddy Inc. (NYSE:GDDY) have earned an average recommendation of “Moderate Buy” from the twelve ratings firms that are currently covering the stock, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $142.73.

Several research analysts have recently weighed in on the company. Robert W. Baird boosted their target price on GoDaddy from $130.00 to $150.00 and gave the stock an “outperform” rating in a report on Monday, March 25th. Piper Sandler raised their target price on GoDaddy from $130.00 to $145.00 and gave the stock an “overweight” rating in a research note on Thursday, March 7th. Barclays lifted their price target on GoDaddy from $130.00 to $150.00 and gave the stock an “overweight” rating in a report on Friday. UBS Group upped their price objective on shares of GoDaddy from $118.00 to $130.00 and gave the company a “neutral” rating in a report on Friday. Finally, B. Riley lifted their target price on shares of GoDaddy from $124.00 to $142.00 and gave the stock a “buy” rating in a research note on Thursday, March 7th.

Insider Transactions at GoDaddy

In other GoDaddy news, CEO Amanpal Singh Bhutani sold 8,687 shares of GoDaddy stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $114.11, for a total value of $991,273.57. Following the completion of the sale, the chief executive officer now owns 454,031 shares in the company, valued at approximately $51,809,477.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, COO Roger Chen sold 4,000 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $122.60, for a total value of $490,400.00. Following the transaction, the chief operating officer now directly owns 200,632 shares of the company’s stock, valued at approximately $24,597,483.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Amanpal Singh Bhutani sold 8,687 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $114.11, for a total value of $991,273.57. Following the sale, the chief executive officer now directly owns 454,031 shares of the company’s stock, valued at approximately $51,809,477.41. The disclosure for this sale can be found here. Insiders sold a total of 125,234 shares of company stock worth $14,025,346 over the last ninety days. 0.54% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On GoDaddy

Several hedge funds and other institutional investors have recently modified their holdings of GDDY. Mediolanum International Funds Ltd acquired a new position in GoDaddy during the first quarter valued at approximately $10,822,000. GSA Capital Partners LLP purchased a new position in shares of GoDaddy in the 1st quarter valued at $667,000. BI Asset Management Fondsmaeglerselskab A S lifted its holdings in shares of GoDaddy by 62.4% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 4,994 shares of the technology company’s stock valued at $593,000 after acquiring an additional 1,919 shares in the last quarter. Central Pacific Bank Trust Division purchased a new stake in GoDaddy during the 1st quarter worth $930,000. Finally, Daiwa Securities Group Inc. increased its holdings in GoDaddy by 14.2% in the 1st quarter. Daiwa Securities Group Inc. now owns 28,178 shares of the technology company’s stock valued at $3,344,000 after purchasing an additional 3,500 shares in the last quarter. 90.28% of the stock is owned by institutional investors and hedge funds.

GoDaddy Trading Down 0.6 %

Shares of GDDY stock opened at $123.64 on Tuesday. GoDaddy has a fifty-two week low of $67.43 and a fifty-two week high of $127.99. The firm has a market capitalization of $17.62 billion, a P/E ratio of 10.27 and a beta of 1.09. The stock’s fifty day moving average is $119.99 and its two-hundred day moving average is $106.65. The company has a debt-to-equity ratio of 61.07, a quick ratio of 0.47 and a current ratio of 0.47.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings results on Tuesday, February 13th. The technology company reported $1.08 earnings per share for the quarter, topping the consensus estimate of $1.03 by $0.05. GoDaddy had a net margin of 40.38% and a negative return on equity of 102.82%. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.10 billion. Research analysts expect that GoDaddy will post 4.93 earnings per share for the current fiscal year.

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.