Brokerages Set GoDaddy Inc. (NYSE:GDDY) Price Target at $166.54

GoDaddy Inc. (NYSE:GDDY) has been assigned a consensus rating of “Moderate Buy” from the fourteen brokerages that are covering the company, Marketbeat reports. Five research analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $166.54.

Several research firms have issued reports on GDDY. Barclays boosted their price objective 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. Benchmark restated a “buy” rating and set a $186.00 price objective on shares of GoDaddy in a research note on Tuesday, October 15th. Royal Bank of Canada upped their target price on GoDaddy from $145.00 to $175.00 and gave the company an “outperform” rating in a report on Monday, August 5th. StockNews.com cut shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 7th. Finally, Robert W. Baird raised their target price on GoDaddy from $175.00 to $190.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd.

Insider Buying and Selling

In other news, Director Sigal Zarmi sold 400 shares of GoDaddy stock in a transaction on Friday, August 9th. The stock was sold at an average price of $157.61, for a total value of $63,044.00. Following the completion of the sale, the director now directly owns 4,661 shares of the company’s stock, valued at approximately $734,620.21. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Sigal Zarmi sold 400 shares of GoDaddy stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $157.61, for a total transaction of $63,044.00. Following the completion of the sale, the director now owns 4,661 shares in the company, valued at $734,620.21. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Nick Daddario sold 684 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $157.23, for a total transaction of $107,545.32. Following the completion of the transaction, the chief accounting officer now owns 17,704 shares in the company, valued at $2,783,599.92. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 32,744 shares of company stock worth $5,114,931 in the last quarter. Insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On GoDaddy

A number of institutional investors have recently made changes to their positions in GDDY. Transcendent Capital Group LLC bought a new position in shares of GoDaddy during the second quarter worth $28,000. ORG Wealth Partners LLC bought a new position in GoDaddy during the third quarter worth about $30,000. GAMMA Investing LLC grew its stake in GoDaddy by 102.3% in the first quarter. GAMMA Investing LLC now owns 263 shares of the technology company’s stock valued at $31,000 after acquiring an additional 133 shares during the period. ORG Partners LLC bought a new stake in shares of GoDaddy in the second quarter worth about $32,000. Finally, International Assets Investment Management LLC acquired a new stake in shares of GoDaddy during the second quarter worth about $36,000. 90.28% of the stock is owned by institutional investors and hedge funds.

GoDaddy Stock Performance

Shares of GDDY opened at $161.45 on Tuesday. The company has a 50-day simple moving average of $159.32 and a 200-day simple moving average of $145.55. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 24.13. The company has a market capitalization of $23.04 billion, a PE ratio of 13.41 and a beta of 1.12. GoDaddy has a 52-week low of $71.15 and a 52-week high of $167.65.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings data on Thursday, August 1st. The technology company reported $1.01 EPS for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.06). GoDaddy had a negative return on equity of 709.73% and a net margin of 41.12%. The company had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.11 billion. During the same quarter in the prior year, the business posted $0.63 EPS. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. Equities research analysts predict that GoDaddy will post 5.07 earnings per share for the current fiscal year.

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.