GoDaddy (NYSE:GDDY) PT Raised to $165.00

GoDaddy (NYSE:GDDY) had its price target boosted by Barclays from $150.00 to $165.00 in a research note issued to investors on Friday morning, Benzinga reports. The firm currently has an overweight rating on the technology company’s stock.

Other equities analysts have also issued research reports about the stock. Robert W. Baird raised their price objective on shares of GoDaddy from $150.00 to $175.00 and gave the company an outperform rating in a research report on Friday, May 24th. Citigroup raised their price target on shares of GoDaddy from $150.00 to $165.00 and gave the company a buy rating in a report on Friday, May 31st. Royal Bank of Canada lifted their price objective on shares of GoDaddy from $124.00 to $145.00 and gave the company an outperform rating in a research note on Friday, May 3rd. Morgan Stanley increased their target price on shares of GoDaddy from $132.00 to $137.00 and gave the stock an equal weight rating in a research report on Friday, May 3rd. Finally, StockNews.com upgraded GoDaddy from a buy rating to a strong-buy rating in a research note on Tuesday, July 30th. Four investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, GoDaddy has a consensus rating of Moderate Buy and an average target price of $161.25.

GoDaddy Stock Up 4.9 %

Shares of GoDaddy stock traded up $7.18 on Friday, hitting $154.06. 1,015,961 shares of the company traded hands, compared to its average volume of 1,622,367. GoDaddy has a 12-month low of $69.18 and a 12-month high of $154.80. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 9.15. The company has a market cap of $21.98 billion, a PE ratio of 12.68 and a beta of 1.14. The company has a 50-day moving average price of $141.77 and a 200 day moving average price of $127.32.

GoDaddy (NYSE:GDDY) last released its quarterly earnings data on Thursday, August 1st. The technology company reported $1.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.06). GoDaddy had a net margin of 41.12% and a negative return on equity of 363.95%. The firm had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same period in the previous year, the business posted $0.63 EPS. GoDaddy’s revenue for the quarter was up 7.3% on a year-over-year basis. Sell-side analysts predict that GoDaddy will post 4.81 earnings per share for the current year.

Insider Buying and Selling at GoDaddy

In other GoDaddy news, CAO Nick Daddario sold 523 shares of the company’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $138.09, for a total transaction of $72,221.07. Following the sale, the chief accounting officer now directly owns 22,666 shares of the company’s stock, valued at $3,129,947.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other GoDaddy news, COO Roger Chen sold 4,000 shares of the business’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $138.84, for a total value of $555,360.00. Following the completion of the transaction, the chief operating officer now directly owns 196,632 shares of the company’s stock, valued at $27,300,386.88. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Nick Daddario sold 523 shares of the company’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $138.09, for a total value of $72,221.07. Following the transaction, the chief accounting officer now directly owns 22,666 shares in the company, valued at approximately $3,129,947.94. The disclosure for this sale can be found here. Over the last three months, insiders sold 53,071 shares of company stock valued at $7,410,566. 0.61% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On GoDaddy

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in GoDaddy by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 14,733,764 shares of the technology company’s stock worth $1,748,603,000 after purchasing an additional 379,228 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in GoDaddy by 94.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,655,994 shares of the technology company’s stock valued at $433,895,000 after acquiring an additional 1,775,708 shares during the last quarter. Norges Bank acquired a new stake in GoDaddy during the 4th quarter worth $181,687,000. Federated Hermes Inc. raised its position in shares of GoDaddy by 3,402.0% during the 4th quarter. Federated Hermes Inc. now owns 955,559 shares of the technology company’s stock valued at $101,442,000 after acquiring an additional 928,273 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in shares of GoDaddy by 13.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 905,858 shares of the technology company’s stock valued at $96,166,000 after purchasing an additional 110,076 shares during the period. 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.