GoDaddy (NYSE:GDDY) Price Target Increased to $150.00 by Analysts at Barclays

GoDaddy (NYSE:GDDY) had its price target lifted by equities research analysts at Barclays from $130.00 to $150.00 in a report released on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the technology company’s stock. Barclays‘s target price suggests a potential upside of 21.32% from the stock’s current price.

Several other equities analysts have also recently commented on the stock. Evercore ISI cut shares of GoDaddy from an “outperform” rating to an “in-line” rating and upped their target price for the company from $100.00 to $110.00 in a research note on Wednesday, February 14th. Royal Bank of Canada reiterated an “outperform” rating and issued a $124.00 target price on shares of GoDaddy in a research note on Thursday, March 7th. Piper Sandler boosted their price target on GoDaddy from $130.00 to $145.00 and gave the company an “overweight” rating in a research note on Thursday, March 7th. StockNews.com upgraded GoDaddy from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, February 14th. Finally, Raymond James began coverage on GoDaddy in a report on Wednesday, March 27th. They set a “strong-buy” rating and a $150.00 price objective on the stock. Four research 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $142.73.

GoDaddy Stock Performance

GoDaddy stock traded down $0.69 on Friday, reaching $123.64. 2,261,279 shares of the stock were exchanged, compared to its average volume of 1,217,650. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 61.07. GoDaddy has a twelve month low of $67.43 and a twelve month high of $127.99. The firm has a fifty day moving average price of $119.99 and a two-hundred day moving average price of $106.65. The stock has a market cap of $17.62 billion, a PE ratio of 10.27 and a beta of 1.09.

GoDaddy (NYSE:GDDY) last announced its 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%. Sell-side analysts anticipate that GoDaddy will post 4.93 EPS for the current year.

Insider Buying and Selling at GoDaddy

In other GoDaddy news, CAO Nick Daddario sold 1,823 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $110.54, for a total transaction of $201,514.42. Following the completion of the sale, the chief accounting officer now directly owns 25,263 shares of the company’s stock, valued at approximately $2,792,572.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other GoDaddy news, CAO Nick Daddario sold 1,823 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $110.54, for a total value of $201,514.42. Following the transaction, the chief accounting officer now directly owns 25,263 shares of the company’s stock, valued at $2,792,572.02. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Roger Chen sold 4,000 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $122.60, for a total transaction of $490,400.00. Following the sale, the chief operating officer now owns 200,632 shares of the company’s stock, valued at approximately $24,597,483.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 125,234 shares of company stock worth $14,025,346. Insiders own 0.54% of the company’s stock.

Hedge Funds Weigh In On GoDaddy

Several institutional investors have recently modified their holdings of the stock. V Square Quantitative Management LLC bought a new position in GoDaddy during the 4th quarter worth approximately $28,000. GAMMA Investing LLC raised its holdings in GoDaddy by 102.3% in the first 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. Frazier Financial Advisors LLC bought a new position in shares of GoDaddy during the fourth quarter worth $33,000. Massmutual Trust Co. FSB ADV grew its holdings in shares of GoDaddy by 140.4% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 351 shares of the technology company’s stock valued at $37,000 after buying an additional 205 shares during the period. Finally, Rise Advisors LLC bought a new stake in shares of GoDaddy in the 1st quarter valued at $48,000. 90.28% of the stock is currently owned by institutional investors and hedge funds.

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.