GoDaddy (NYSE:GDDY) Stock Price Expected to Rise, UBS Group Analyst Says

GoDaddy (NYSE:GDDY) had its target price boosted by stock analysts at UBS Group from $172.00 to $225.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the technology company’s stock. UBS Group’s target price points to a potential upside of 23.24% from the company’s current price.

Several other brokerages have also commented on GDDY. JPMorgan Chase & Co. upped their price objective on shares of GoDaddy from $224.00 to $231.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Benchmark raised their price objective on shares of GoDaddy from $200.00 to $230.00 and gave the company a “buy” rating in a report on Thursday. Barclays increased their target price on shares of GoDaddy from $235.00 to $243.00 and gave the company an “overweight” rating in a research report on Friday. Raymond James increased their target price on shares of GoDaddy from $185.00 to $230.00 and gave the company a “strong-buy” rating in a research report on Tuesday, January 21st. Finally, B. Riley raised their price objective on shares of GoDaddy from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Friday. Six investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $213.20.

GoDaddy Stock Performance

GoDaddy stock opened at $182.58 on Friday. The firm has a 50 day simple moving average of $204.20 and a 200-day simple moving average of $180.06. GoDaddy has a 1-year low of $108.02 and a 1-year high of $216.00. The company has a debt-to-equity ratio of 10.61, a current ratio of 0.56 and a quick ratio of 0.56. The stock has a market cap of $25.63 billion, a price-to-earnings ratio of 14.11 and a beta of 1.15.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings results 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 net margin of 41.74% and a return on equity of 267.29%. The firm had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.18 billion. On average, analysts expect that GoDaddy will post 4.96 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Amanpal Singh Bhutani sold 3,000 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $207.70, for a total value of $623,100.00. Following the completion of the sale, the chief executive officer now owns 330,153 shares of the company’s stock, valued at $68,572,778.10. This represents a 0.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Mark Mccaffrey sold 2,678 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $196.64, for a total transaction of $526,601.92. Following the completion of the sale, the chief financial officer now directly owns 89,800 shares of the company’s stock, valued at $17,658,272. The trade was a 2.90 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 23,482 shares of company stock worth $4,709,650. Insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in GDDY. CWM LLC boosted its stake in GoDaddy by 2.7% during the 3rd quarter. CWM LLC now owns 6,034 shares of the technology company’s stock valued at $946,000 after acquiring an additional 159 shares during the last quarter. Creative Planning lifted its position in shares of GoDaddy by 41.6% in the 3rd quarter. Creative Planning now owns 14,187 shares of the technology company’s stock worth $2,224,000 after buying an additional 4,168 shares during the last quarter. Hengehold Capital Management LLC lifted its position in shares of GoDaddy by 15.4% in the 3rd quarter. Hengehold Capital Management LLC now owns 2,155 shares of the technology company’s stock worth $338,000 after buying an additional 288 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of GoDaddy by 0.4% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 18,097 shares of the technology company’s stock worth $2,837,000 after buying an additional 67 shares during the last quarter. Finally, V Square Quantitative Management LLC increased its holdings in shares of GoDaddy by 37.0% in the 3rd quarter. V Square Quantitative Management LLC now owns 2,093 shares of the technology company’s stock worth $328,000 after acquiring an additional 565 shares during the period. 90.28% of the stock is currently 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.