GoDaddy (NYSE:GDDY) Price Target Increased to $137.00 by Analysts at Morgan Stanley

GoDaddy (NYSE:GDDY) had its target price hoisted by Morgan Stanley from $132.00 to $137.00 in a research report report published on Friday morning, Benzinga reports. Morgan Stanley currently has an equal weight rating on the technology company’s stock.

Several other research analysts have also recently issued reports on the stock. Piper Sandler lifted their target price on shares of GoDaddy from $130.00 to $145.00 and gave the stock an overweight rating in a report on Thursday, March 7th. Barclays boosted their price objective on shares of GoDaddy from $130.00 to $150.00 and gave the stock an overweight rating in a report on Friday. StockNews.com upgraded GoDaddy from a buy rating to a strong-buy rating in a research note on Wednesday, February 14th. Raymond James assumed coverage on GoDaddy in a report on Wednesday, March 27th. They issued a strong-buy rating and a $150.00 target price for the company. Finally, Benchmark restated a buy rating and issued a $150.00 target price on shares of GoDaddy in a report on Wednesday. Four investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $142.73.

GoDaddy Stock Down 0.6 %

GDDY stock traded down $0.69 on Friday, reaching $123.64. 2,261,279 shares of the company traded hands, compared to its average volume of 1,217,650. The firm has a fifty day simple moving average of $119.99 and a 200-day simple moving average of $106.44. The company has a market cap of $17.62 billion, a P/E ratio of 10.27 and a beta of 1.09. GoDaddy has a one year low of $67.43 and a one year high of $127.99. The company has a debt-to-equity ratio of 61.07, a current ratio of 0.47 and a quick ratio of 0.47.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings results on Tuesday, February 13th. The technology company reported $1.08 earnings per share for the quarter, beating the consensus estimate of $1.03 by $0.05. The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.10 billion. GoDaddy had a negative return on equity of 102.82% and a net margin of 40.38%. Research analysts anticipate that GoDaddy will post 4.93 earnings per share for the current year.

Insider Activity

In related news, COO Roger Chen sold 4,000 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $114.11, for a total value of $456,440.00. Following the completion of the sale, the chief operating officer now directly owns 208,632 shares of the company’s stock, valued at approximately $23,806,997.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Amanpal Singh Bhutani sold 59,608 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $110.54, for a total value of $6,589,068.32. Following the completion of the transaction, the chief executive officer now owns 394,423 shares of the company’s stock, valued at $43,599,518.42. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Roger Chen sold 4,000 shares of GoDaddy stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $114.11, for a total value of $456,440.00. Following the sale, the chief operating officer now directly owns 208,632 shares in the company, valued at approximately $23,806,997.52. The disclosure for this sale can be found here. Insiders have sold a total of 125,234 shares of company stock valued at $14,025,346 in the last ninety days. Corporate insiders own 0.54% of the company’s stock.

Institutional Trading of GoDaddy

Hedge funds have recently bought and sold shares of the stock. Gulf International Bank UK Ltd increased its position in 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 purchasing an additional 113 shares during the last quarter. Sivia Capital Partners LLC increased its stake in GoDaddy by 3.9% during the first quarter. Sivia Capital Partners LLC now owns 3,023 shares of the technology company’s stock worth $359,000 after acquiring an additional 113 shares during the last quarter. Ingalls & Snyder LLC lifted its stake in shares of GoDaddy by 0.3% in the 4th quarter. Ingalls & Snyder LLC now owns 41,923 shares of the technology company’s stock valued at $4,451,000 after purchasing an additional 120 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of GoDaddy by 102.3% in the 1st quarter. GAMMA Investing LLC now owns 263 shares of the technology company’s stock worth $31,000 after purchasing an additional 133 shares during the period. Finally, Parkside Financial Bank & Trust increased its position in shares of GoDaddy by 7.6% during the 3rd quarter. Parkside Financial Bank & Trust now owns 1,940 shares of the technology company’s stock valued at $144,000 after purchasing an additional 137 shares during 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.