GoDaddy (NYSE:GDDY) Price Target Raised to $190.00 at Royal Bank of Canada

GoDaddy (NYSE:GDDY) had its target price boosted by Royal Bank of Canada from $175.00 to $190.00 in a research note issued to investors on Friday morning, Benzinga reports. The brokerage currently has an outperform rating on the technology company’s stock.

Other research analysts also recently issued reports about the stock. Robert W. Baird raised their price objective on shares of GoDaddy from $190.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday. Benchmark raised their price objective on shares of GoDaddy from $186.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday. Cantor Fitzgerald reiterated a “neutral” rating and issued a $170.00 target price on shares of GoDaddy in a research note on Monday, October 7th. Barclays increased their target price on shares of GoDaddy from $165.00 to $185.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 25th. Finally, Raymond James increased their target price on shares of GoDaddy from $150.00 to $175.00 and gave the stock a “strong-buy” rating in a research note on Friday, August 2nd. 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 MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $171.38.

GoDaddy Stock Down 2.1 %

GoDaddy stock opened at $163.36 on Friday. GoDaddy has a twelve month low of $74.12 and a twelve month high of $171.93. The firm has a 50 day moving average price of $159.18 and a 200-day moving average price of $147.45. The company has a market capitalization of $23.03 billion, a P/E ratio of 12.62 and a beta of 1.11. The company has a quick ratio of 0.48, a current ratio of 0.56 and a debt-to-equity ratio of 10.61.

GoDaddy (NYSE:GDDY) last released its quarterly earnings data on Wednesday, October 30th. The technology company reported $1.32 EPS for the quarter, topping the consensus estimate of $1.25 by $0.07. The company had revenue of $1.15 billion during 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%. GoDaddy’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period last year, the firm earned $0.89 EPS. As a group, equities analysts predict that GoDaddy will post 5.09 EPS for the current year.

Insider Activity at GoDaddy

In related news, CEO Amanpal Singh Bhutani sold 3,000 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $166.91, for a total transaction of $500,730.00. Following the transaction, the chief executive officer now owns 358,773 shares of the company’s stock, valued at approximately $59,882,801.43. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other GoDaddy news, Director Sigal Zarmi sold 400 shares of the firm’s stock in a transaction 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 sale, the director now owns 4,661 shares of the company’s stock, valued at $734,620.21. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $166.91, for a total transaction of $500,730.00. Following the completion of the sale, the chief executive officer now directly owns 358,773 shares in the company, valued at approximately $59,882,801.43. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 25,744 shares of company stock valued at $4,089,571. Insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On GoDaddy

A number of large investors have recently added to or reduced their stakes in GDDY. Price T Rowe Associates Inc. MD grew its holdings in GoDaddy by 94.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,655,994 shares of the technology company’s stock worth $433,895,000 after acquiring an additional 1,775,708 shares during the last quarter. Kodai Capital Management LP bought a new stake in shares of GoDaddy during the 1st quarter valued at about $75,855,000. Federated Hermes Inc. boosted its stake in shares of GoDaddy by 35.6% during the 2nd quarter. Federated Hermes Inc. now owns 1,501,277 shares of the technology company’s stock valued at $209,743,000 after purchasing an additional 394,399 shares in the last quarter. Wedge Capital Management L L P NC boosted its stake in shares of GoDaddy by 2,279.5% during the 3rd quarter. Wedge Capital Management L L P NC now owns 401,249 shares of the technology company’s stock valued at $62,908,000 after purchasing an additional 384,386 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of GoDaddy by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 14,733,764 shares of the technology company’s stock valued at $1,748,603,000 after purchasing an additional 379,228 shares in the last quarter. Institutional investors 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.