GoDaddy (NYSE:GDDY) Price Target Raised to $225.00

GoDaddy (NYSE:GDDY) had its price objective lifted by equities researchers at Robert W. Baird from $200.00 to $225.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the technology company’s stock. Robert W. Baird’s price objective indicates a potential upside of 21.55% from the company’s previous close.

Other equities analysts also recently issued research reports about the stock. Benchmark lifted their price target on shares of GoDaddy from $186.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, October 31st. StockNews.com downgraded shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a report on Friday, November 8th. Piper Sandler boosted their target price on shares of GoDaddy from $172.00 to $176.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Raymond James boosted their target price on shares of GoDaddy from $150.00 to $175.00 and gave the stock a “strong-buy” rating in a report on Friday, August 2nd. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $170.00 price target on shares of GoDaddy in a research report on Monday, October 7th. Five investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $173.31.

GoDaddy Stock Performance

Shares of GDDY stock opened at $185.11 on Tuesday. The company has a 50 day moving average price of $162.76 and a 200-day moving average price of $151.41. GoDaddy has a 52 week low of $91.86 and a 52 week high of $190.21. The firm has a market capitalization of $25.99 billion, a PE ratio of 14.31 and a beta of 1.11. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 10.61.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings data on Wednesday, October 30th. The technology company reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.07. The company had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.14 billion. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. The firm’s revenue was up 7.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.89 earnings per share. As a group, equities research analysts expect that GoDaddy will post 4.95 earnings per share for the current year.

Insider Buying and Selling at GoDaddy

In other news, Director Brian Sharples sold 500 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $179.00, for a total value of $89,500.00. Following the transaction, the director now directly owns 24,121 shares in the company, valued at approximately $4,317,659. This 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 the SEC website. Also, COO Roger Chen sold 1,000 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $152.17, for a total transaction of $152,170.00. Following the completion of the transaction, the chief operating officer now owns 187,632 shares in the company, valued at approximately $28,551,961.44. The trade was a 0.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 28,844 shares of company stock worth $4,619,397 over the last quarter. Insiders own 0.61% of the company’s stock.

Institutional Trading of GoDaddy

A number of hedge funds have recently added to or reduced their stakes in the business. TD Private Client Wealth LLC lifted its stake in GoDaddy by 7.0% in the third quarter. TD Private Client Wealth LLC now owns 8,197 shares of the technology company’s stock worth $1,285,000 after acquiring an additional 539 shares during the period. Coldstream Capital Management Inc. purchased a new stake in GoDaddy in the third quarter worth about $314,000. Geode Capital Management LLC lifted its stake in GoDaddy by 2.5% in the third quarter. Geode Capital Management LLC now owns 3,423,622 shares of the technology company’s stock worth $535,153,000 after acquiring an additional 84,550 shares during the period. Vestcor Inc lifted its stake in GoDaddy by 1,156.5% in the third quarter. Vestcor Inc now owns 31,249 shares of the technology company’s stock worth $4,899,000 after acquiring an additional 28,762 shares during the period. Finally, M&T Bank Corp lifted its stake in GoDaddy by 1.5% in the third quarter. M&T Bank Corp now owns 9,539 shares of the technology company’s stock worth $1,496,000 after acquiring an additional 145 shares during the period. 90.28% of the stock is owned by hedge funds and other institutional investors.

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.