GoDaddy (NYSE:GDDY) Price Target Raised to $225.00

GoDaddy (NYSE:GDDY) had its price objective upped by Robert W. Baird from $200.00 to $225.00 in a report released on Tuesday,Benzinga reports. The firm currently has an outperform rating on the technology company’s stock.

Several other research firms also recently issued reports on GDDY. Piper Sandler increased their target price on GoDaddy from $172.00 to $176.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Cantor Fitzgerald reissued a “neutral” rating and set a $170.00 price objective on shares of GoDaddy in a report on Monday, October 7th. Raymond James lifted their target price on GoDaddy from $150.00 to $175.00 and gave the company a “strong-buy” rating in a report on Friday, August 2nd. StockNews.com downgraded shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a report on Friday, November 8th. Finally, B. Riley raised their price target on shares of GoDaddy from $170.00 to $190.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Five research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $173.31.

GoDaddy Stock Up 1.8 %

Shares of NYSE GDDY opened at $196.41 on Tuesday. 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 capitalization of $27.57 billion, a PE ratio of 14.93 and a beta of 1.11. GoDaddy has a one year low of $94.50 and a one year high of $196.71. The business’s fifty day moving average price is $165.74 and its 200-day moving average price is $152.83.

GoDaddy (NYSE:GDDY) last released its quarterly earnings data on Wednesday, October 30th. The technology company reported $1.32 EPS for the quarter, beating the consensus estimate of $1.25 by $0.07. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. The business had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same period in the prior year, the firm earned $0.89 earnings per share. The company’s revenue was up 7.3% compared to the same quarter last year. On average, equities research analysts anticipate that GoDaddy will post 4.95 EPS for the current year.

Insider Activity at GoDaddy

In related news, COO Roger Chen sold 1,000 shares of GoDaddy stock in a transaction on Friday, November 15th. The shares were sold at an average price of $183.80, for a total value of $183,800.00. Following the transaction, the chief operating officer now directly owns 185,632 shares of the company’s stock, valued at $34,119,161.60. The trade was a 0.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Mark Mccaffrey sold 5,500 shares of the stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $164.75, for a total transaction of $906,125.00. Following the sale, the chief financial officer now directly owns 101,286 shares of the company’s stock, valued at $16,686,868.50. The trade was a 5.15 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,845 shares of company stock valued at $4,803,380. Insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of GDDY. Anchor Investment Management LLC bought a new stake in shares of GoDaddy in the 3rd quarter worth approximately $31,000. Te Ahumairangi Investment Management Ltd lifted its stake in GoDaddy by 86.8% in the third quarter. Te Ahumairangi Investment Management Ltd now owns 15,012 shares of the technology company’s stock worth $2,340,000 after acquiring an additional 6,974 shares during the period. TD Private Client Wealth LLC boosted its holdings in GoDaddy by 7.0% in the third quarter. TD Private Client Wealth LLC now owns 8,197 shares of the technology company’s stock valued at $1,285,000 after acquiring an additional 539 shares in the last quarter. Coldstream Capital Management Inc. purchased a new position in GoDaddy during the 3rd quarter valued at $314,000. Finally, Geode Capital Management LLC raised its holdings in GoDaddy by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 3,423,622 shares of the technology company’s stock worth $535,153,000 after purchasing an additional 84,550 shares in the last quarter. Hedge funds and other 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.