Barclays Raises GoDaddy (NYSE:GDDY) Price Target to $150.00

GoDaddy (NYSE:GDDY) had its price objective boosted by Barclays from $130.00 to $150.00 in a report released on Friday morning, Benzinga reports. They currently have an overweight rating on the technology company’s stock.

A number of other research analysts have also recently commented on the stock. JPMorgan Chase & Co. upped their price target on shares of GoDaddy from $128.00 to $136.00 and gave the stock an overweight rating in a report on Tuesday, April 2nd. UBS Group lifted their price target on GoDaddy from $110.00 to $118.00 and gave the stock a neutral rating in a research note on Wednesday, February 14th. Benchmark reissued a buy rating and issued a $150.00 target price on shares of GoDaddy in a research note on Wednesday, May 1st. Robert W. Baird upped their price target on GoDaddy from $130.00 to $150.00 and gave the stock an outperform rating in a report on Monday, March 25th. Finally, Morgan Stanley increased their price target on GoDaddy from $120.00 to $132.00 and gave the stock an equal weight rating in a research note on Thursday, March 14th. Four equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $142.73.

GoDaddy Stock Up 3.6 %

GDDY stock traded up $4.45 during midday trading on Friday, hitting $128.09. 543,297 shares of the company’s stock were exchanged, compared to its average volume of 1,455,538. The stock has a market capitalization of $18.25 billion, a price-to-earnings ratio of 10.27 and a beta of 1.09. The firm has a 50 day moving average price of $119.99 and a 200-day moving average price of $106.87. The company has a current ratio of 0.55, a quick ratio of 0.47 and a debt-to-equity ratio of 9.15. GoDaddy has a 12-month low of $68.98 and a 12-month high of $128.60.

GoDaddy (NYSE:GDDY) last posted its earnings results on Tuesday, February 13th. The technology company reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.03 by $0.05. GoDaddy had a negative return on equity of 186.09% and a net margin of 40.38%. The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.10 billion. On average, analysts anticipate that GoDaddy will post 4.93 EPS for the current year.

Insider Activity

In related news, COO Roger Chen sold 4,000 shares of the stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $122.60, for a total transaction of $490,400.00. Following the sale, 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Amanpal Singh Bhutani sold 8,687 shares of the company’s stock in a transaction on Friday, March 1st. The stock was 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 in the company, valued at $51,809,477.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Roger Chen sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $122.60, for a total value of $490,400.00. Following the sale, the chief operating officer now owns 200,632 shares of the company’s stock, valued at approximately $24,597,483.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 125,234 shares of company stock valued at $14,025,346. Insiders own 0.54% of the company’s stock.

Hedge Funds Weigh In On GoDaddy

Institutional investors and hedge funds have recently made changes to their positions in the company. V Square Quantitative Management LLC purchased a new stake in GoDaddy in the fourth quarter worth about $28,000. GAMMA Investing LLC increased its position in GoDaddy by 102.3% during the first quarter. GAMMA Investing LLC now owns 263 shares of the technology company’s stock worth $31,000 after purchasing an additional 133 shares during the last quarter. Frazier Financial Advisors LLC purchased a new position in GoDaddy in the fourth quarter worth approximately $33,000. Massmutual Trust Co. FSB ADV increased its stake in GoDaddy by 140.4% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 351 shares of the technology company’s stock valued at $37,000 after buying an additional 205 shares during the period. Finally, Rise Advisors LLC purchased a new position in GoDaddy in the 1st quarter valued at about $48,000. Institutional investors and hedge funds own 90.28% of the company’s stock.

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.