GoDaddy (NYSE:GDDY) Price Target Raised to $200.00 at Benchmark

GoDaddy (NYSE:GDDY) had its price objective increased by research analysts at Benchmark from $186.00 to $200.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. Benchmark’s price objective would suggest a potential upside of 22.42% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the stock. StockNews.com cut shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 7th. Barclays increased their price target on GoDaddy from $165.00 to $185.00 and gave the company an “overweight” rating in a research report on Wednesday, September 25th. Robert W. Baird raised their price target on GoDaddy from $190.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday. B. Riley upped their price objective on GoDaddy from $143.00 to $170.00 and gave the stock a “buy” rating in a research note on Friday, July 12th. Finally, Royal Bank of Canada boosted their target price on shares of GoDaddy from $145.00 to $175.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Five investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $171.38.

GoDaddy Stock Down 2.1 %

GDDY stock opened at $163.37 on Thursday. The company has a debt-to-equity ratio of 24.13, a current ratio of 0.48 and a quick ratio of 0.48. The stock has a market capitalization of $23.03 billion, a P/E ratio of 12.63 and a beta of 1.12. GoDaddy has a fifty-two week low of $74.12 and a fifty-two week high of $171.93. The business has a 50-day moving average of $159.18 and a 200-day moving average of $147.11.

GoDaddy (NYSE:GDDY) last released its quarterly earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.07. GoDaddy had a return on equity of 313.25% and a net margin of 41.74%. The firm had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter in the prior year, the firm posted $0.89 EPS. The business’s revenue was up 7.3% on a year-over-year basis. On average, sell-side analysts anticipate that GoDaddy will post 5.07 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Sigal Zarmi sold 400 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $157.61, for a total value of $63,044.00. Following the completion of the transaction, the director now directly owns 4,661 shares in the company, valued at approximately $734,620.21. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Sigal Zarmi sold 400 shares of the business’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $157.61, for a total transaction of $63,044.00. Following the completion of the transaction, the director now owns 4,661 shares of the company’s stock, valued at approximately $734,620.21. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Roger Chen sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $164.16, for a total value of $164,160.00. Following the completion of the sale, the chief operating officer now directly owns 186,632 shares in the company, valued at $30,637,509.12. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 25,744 shares of company stock worth $4,089,571 over the last ninety days. Corporate insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On GoDaddy

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Transcendent Capital Group LLC acquired a new position in shares of GoDaddy during the second quarter worth $28,000. ORG Wealth Partners LLC bought a new position in GoDaddy in the third quarter valued at about $30,000. ORG Partners LLC acquired a new stake in shares of GoDaddy during the second quarter valued at about $32,000. International Assets Investment Management LLC bought a new stake in shares of GoDaddy during the second quarter worth about $36,000. Finally, New Covenant Trust Company N.A. acquired a new position in shares of GoDaddy in the first quarter valued at approximately $45,000. Institutional investors 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.