Raymond James Increases GoDaddy (NYSE:GDDY) Price Target to $175.00

GoDaddy (NYSE:GDDY) had its target price raised by Raymond James from $150.00 to $175.00 in a research report released on Friday, Benzinga reports. The firm currently has a strong-buy rating on the technology company’s stock.

A number of other research analysts have also commented on GDDY. Citigroup upped their price objective on shares of GoDaddy from $150.00 to $165.00 and gave the company a buy rating in a research report on Friday, May 31st. William Blair reaffirmed an outperform rating on shares of GoDaddy in a research note on Friday, May 3rd. B. Riley upped their price objective on shares of GoDaddy from $143.00 to $170.00 and gave the stock a buy rating in a research note on Friday, July 12th. Evercore ISI upped their price objective on shares of GoDaddy from $110.00 to $135.00 and gave the stock an in-line rating in a research note on Friday, May 3rd. Finally, StockNews.com raised shares of GoDaddy from a buy rating to a strong-buy rating in a research note on Tuesday, July 30th. Four research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $161.25.

GoDaddy Stock Performance

GDDY stock traded up $7.72 during mid-day trading on Friday, reaching $154.60. 879,048 shares of the stock traded hands, compared to its average volume of 1,621,454. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 9.15. GoDaddy has a 52 week low of $69.18 and a 52 week high of $154.80. The business has a 50-day moving average of $141.77 and a two-hundred day moving average of $127.32. The firm has a market capitalization of $22.06 billion, a PE ratio of 12.68 and a beta of 1.14.

GoDaddy (NYSE:GDDY) last released its quarterly earnings results 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 the consensus estimate of $1.11 billion. During the same quarter last year, the company earned $0.63 earnings per share. The firm’s revenue was up 7.3% on a year-over-year basis. As a group, equities analysts predict that GoDaddy will post 4.81 EPS for the current fiscal year.

Insider Buying and Selling at GoDaddy

In other GoDaddy news, CAO Nick Daddario sold 523 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The shares were 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 of the company’s stock, valued at $3,129,947.94. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other GoDaddy news, CAO Nick Daddario sold 523 shares of the stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $138.09, for a total value of $72,221.07. Following the sale, the chief accounting officer now directly owns 22,666 shares in the company, valued at $3,129,947.94. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $146.48, for a total transaction of $439,440.00. Following the completion of the sale, the chief executive officer now owns 362,398 shares in the company, valued at $53,084,059.04. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 53,071 shares of company stock valued at $7,410,566. 0.61% of the stock is currently owned by insiders.

Institutional Investors Weigh In On GoDaddy

Several hedge funds have recently bought and sold shares of GDDY. Fifth Third Bancorp raised its holdings in shares of GoDaddy by 27.4% during the fourth quarter. Fifth Third Bancorp now owns 730 shares of the technology company’s stock worth $77,000 after acquiring an additional 157 shares during the period. UMB Bank n.a. acquired a new stake in shares of GoDaddy during the fourth quarter worth $50,000. International Assets Investment Management LLC acquired a new stake in shares of GoDaddy during the fourth quarter worth $1,972,000. New York State Teachers Retirement System raised its holdings in shares of GoDaddy by 31.9% during the fourth quarter. New York State Teachers Retirement System now owns 104,994 shares of the technology company’s stock worth $11,146,000 after acquiring an additional 25,382 shares during the period. Finally, DekaBank Deutsche Girozentrale raised its holdings in shares of GoDaddy by 11.3% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 18,164 shares of the technology company’s stock worth $1,906,000 after acquiring an additional 1,838 shares during the period. 90.28% of the stock is currently owned by institutional investors and hedge funds.

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.