UBS Group Raises GoDaddy (NYSE:GDDY) Price Target to $130.00

GoDaddy (NYSE:GDDY) had its price objective increased by UBS Group from $118.00 to $130.00 in a research note released on Friday, Benzinga reports. They currently have a neutral rating on the technology company’s stock.

Several other equities research analysts also recently weighed in on GDDY. Robert W. Baird boosted their target price on shares of GoDaddy from $130.00 to $150.00 and gave the stock an outperform rating in a research report on Monday, March 25th. Morgan Stanley raised their price objective on GoDaddy from $132.00 to $137.00 and gave the stock an equal weight rating in a research note on Friday. Piper Sandler lifted their price objective on shares of GoDaddy from $130.00 to $145.00 and gave the stock an overweight rating in a research note on Thursday, March 7th. Benchmark reaffirmed a buy rating and set a $150.00 price objective on shares of GoDaddy in a research report on Wednesday, May 1st. Finally, B. Riley raised their price objective on shares of GoDaddy from $124.00 to $142.00 and gave the stock a buy rating in a report on Thursday, March 7th. 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, GoDaddy presently has an average rating of Moderate Buy and a consensus price target of $142.73.

GoDaddy Stock Up 3.6 %

GDDY traded up $4.45 on Friday, hitting $128.09. The company had a trading volume of 543,297 shares, compared to its average volume of 1,455,538. GoDaddy has a 52-week low of $68.98 and a 52-week high of $128.60. The firm has a market capitalization of $18.25 billion, a P/E ratio of 10.27 and a beta of 1.09. The stock has a fifty day simple moving average of $119.99 and a 200-day simple moving average of $106.87. The company has a debt-to-equity ratio of 9.15, a current ratio of 0.55 and a quick ratio of 0.47.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings data on Tuesday, February 13th. The technology company reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.03 by $0.05. GoDaddy had a negative return on equity of 186.09% and a net margin of 40.38%. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.10 billion. As a group, equities analysts expect that GoDaddy will post 4.93 EPS for the current fiscal year.

Insider Buying and Selling

In related news, COO Roger Chen sold 4,000 shares of GoDaddy stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $122.60, for a total value of $490,400.00. Following the transaction, the chief operating officer now directly owns 200,632 shares of the company’s stock, valued at $24,597,483.20. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CFO Mark Mccaffrey sold 624 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $120.83, for a total value of $75,397.92. Following the sale, the chief financial officer now owns 116,328 shares in the company, valued at $14,055,912.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Roger Chen sold 4,000 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $122.60, for a total transaction of $490,400.00. Following the completion of the sale, the chief operating officer now directly owns 200,632 shares of the company’s stock, valued at $24,597,483.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 125,234 shares of company stock valued at $14,025,346. 0.54% of the stock is owned by company insiders.

Hedge Funds Weigh In On GoDaddy

A number of hedge funds have recently added to or reduced their stakes in the stock. Louisiana State Employees Retirement System purchased a new stake in GoDaddy during the 4th quarter valued at about $4,204,000. SG Americas Securities LLC boosted its stake in shares of GoDaddy by 644.6% during the 4th quarter. SG Americas Securities LLC now owns 149,643 shares of the technology company’s stock worth $15,886,000 after purchasing an additional 129,547 shares during the last quarter. Horrell Capital Management Inc. raised its holdings in shares of GoDaddy by 41.7% in the 4th quarter. Horrell Capital Management Inc. now owns 68,000 shares of the technology company’s stock worth $7,219,000 after purchasing an additional 20,000 shares during the period. Sequoia Financial Advisors LLC acquired a new stake in shares of GoDaddy during the fourth quarter worth approximately $773,000. Finally, Lecap Asset Management Ltd. acquired a new position in GoDaddy in the fourth quarter valued at approximately $2,328,000. 90.28% of the stock is currently owned by institutional investors.

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.