GoDaddy Inc. (NYSE:GDDY) Receives $213.20 Average Price Target from Brokerages

GoDaddy Inc. (NYSE:GDDY) has been assigned an average recommendation of “Moderate Buy” from the sixteen analysts that are covering the firm, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $213.20.

GDDY has been the subject of several recent analyst reports. Benchmark upped their price objective on shares of GoDaddy from $200.00 to $230.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. JPMorgan Chase & Co. lifted their target price on shares of GoDaddy from $224.00 to $231.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Barclays raised their price objective on GoDaddy from $235.00 to $243.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. Piper Sandler lifted their price objective on GoDaddy from $176.00 to $177.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th. Finally, Citigroup lifted their price target on shares of GoDaddy from $240.00 to $251.00 and gave the company a “buy” rating in a research note on Friday, January 3rd.

Insider Buying and Selling

In other GoDaddy news, CEO Amanpal Singh Bhutani sold 3,000 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $199.01, for a total transaction of $597,030.00. Following the sale, the chief executive officer now owns 333,153 shares of the company’s stock, valued at $66,300,778.53. The trade was a 0.89 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Brian Sharples sold 500 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $207.70, for a total transaction of $103,850.00. Following the transaction, the director now directly owns 22,621 shares of the company’s stock, valued at approximately $4,698,381.70. This represents a 2.16 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,480 shares of company stock worth $3,816,029. 0.61% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Proficio Capital Partners LLC bought a new stake in GoDaddy during the 4th quarter valued at $25,554,000. CWA Asset Management Group LLC increased its position in GoDaddy by 29.2% during the 4th quarter. CWA Asset Management Group LLC now owns 16,071 shares of the technology company’s stock valued at $3,172,000 after buying an additional 3,631 shares in the last quarter. Dai ichi Life Insurance Company Ltd boosted its stake in GoDaddy by 39.6% in the 3rd quarter. Dai ichi Life Insurance Company Ltd now owns 60,022 shares of the technology company’s stock worth $9,410,000 after purchasing an additional 17,021 shares in the last quarter. Fiduciary Alliance LLC bought a new stake in shares of GoDaddy in the 4th quarter worth $1,045,000. Finally, Mount Yale Investment Advisors LLC raised its stake in shares of GoDaddy by 205.3% in the fourth quarter. Mount Yale Investment Advisors LLC now owns 5,626 shares of the technology company’s stock worth $1,110,000 after purchasing an additional 3,783 shares during the last quarter. 90.28% of the stock is currently owned by institutional investors.

GoDaddy Stock Up 0.3 %

GDDY opened at $184.00 on Friday. The stock’s fifty day simple moving average is $190.91 and its 200 day simple moving average is $183.77. The company has a current ratio of 0.72, a quick ratio of 0.56 and a debt-to-equity ratio of 5.46. The stock has a market cap of $26.01 billion, a PE ratio of 28.53 and a beta of 1.25. GoDaddy has a 1-year low of $118.39 and a 1-year high of $216.00.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings data on Thursday, February 13th. The technology company reported $1.42 earnings per share for the quarter, missing the consensus estimate of $1.43 by ($0.01). GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. The firm had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.18 billion. As a group, research analysts expect that GoDaddy will post 6.63 earnings per share for the current year.

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.