GoDaddy (NYSE:GDDY) Price Target Raised to $185.00 at Barclays

by · The Markets Daily

GoDaddy (NYSE:GDDY – Free Report) had its target price increased by Barclays from $165.00 to $185.00 in a research note published on Wednesday, Benzinga reports. The brokerage currently has an overweight rating on the technology company’s stock.

Other research analysts have also issued reports about the stock. Royal Bank of Canada upped their target price on shares of GoDaddy from $145.00 to $175.00 and gave the company an outperform rating in a report on Monday, August 5th. StockNews.com lowered shares of GoDaddy from a strong-buy rating to a buy rating in a research report on Wednesday, August 7th. Raymond James lifted 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. B. Riley increased their price target on GoDaddy from $143.00 to $170.00 and gave the stock a buy rating in a research note on Friday, July 12th. Finally, Cantor Fitzgerald reaffirmed a neutral rating and issued a $170.00 price objective on shares of GoDaddy in a research report on Monday, September 23rd. Six equities 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’s stock. According to MarketBeat.com, GoDaddy currently has a consensus rating of Moderate Buy and an average price target of $166.54.

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GoDaddy Stock Up 0.2 %

Shares of NYSE GDDY opened at $156.00 on Wednesday. The firm’s 50-day moving average is $155.52 and its two-hundred day moving average is $140.27. The company has a market capitalization of $22.26 billion, a PE ratio of 12.96 and a beta of 1.13. GoDaddy has a 12-month low of $71.15 and a 12-month high of $167.65. The company has a debt-to-equity ratio of 24.13, a current ratio of 0.48 and a quick ratio of 0.48.

GoDaddy (NYSE:GDDY – Get Free Report) last posted its 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). The company had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.11 billion. GoDaddy had a net margin of 41.12% and a negative return on equity of 709.73%. GoDaddy’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.63 EPS. Equities analysts anticipate that GoDaddy will post 5.06 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Mark Mccaffrey sold 5,500 shares of GoDaddy 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 transaction, the chief financial officer now owns 101,286 shares in the company, valued at approximately $16,686,868.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other GoDaddy news, COO Roger Chen sold 4,000 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $139.79, for a total value of $559,160.00. Following the completion of the sale, the chief operating officer now owns 192,632 shares of the company’s stock, valued at $26,928,027.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Mark Mccaffrey sold 5,500 shares of GoDaddy stock in a transaction that occurred 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 owns 101,286 shares in the company, valued at approximately $16,686,868.50. The disclosure for this sale can be found here. Insiders sold a total of 31,744 shares of company stock worth $4,816,386 over the last ninety days. 0.61% of the stock is owned by company insiders.

Institutional Investors Weigh In On GoDaddy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GDDY. Whittier Trust Co. grew its stake in GoDaddy by 4.3% during the 2nd quarter. Whittier Trust Co. now owns 1,781 shares of the technology company’s stock valued at $249,000 after purchasing an additional 74 shares in the last quarter. Gulf International Bank UK Ltd increased its stake in shares of GoDaddy by 0.9% in the first quarter. Gulf International Bank UK Ltd now owns 12,030 shares of the technology company’s stock worth $1,427,000 after buying an additional 113 shares during the last quarter. Sivia Capital Partners LLC raised its holdings in GoDaddy by 3.9% in the first quarter. Sivia Capital Partners LLC now owns 3,023 shares of the technology company’s stock valued at $359,000 after acquiring an additional 113 shares in the last quarter. GAMMA Investing LLC boosted its stake in GoDaddy by 102.3% during the 1st 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 last quarter. Finally, Signaturefd LLC grew its holdings in GoDaddy by 6.3% during the 2nd quarter. Signaturefd LLC now owns 2,480 shares of the technology company’s stock worth $346,000 after acquiring an additional 148 shares in the last quarter. Hedge funds and other institutional investors own 90.28% of the company’s stock.

About GoDaddy

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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.

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