GoDaddy (NYSE:GDDY) Price Target Raised to $175.00

GoDaddy (NYSE:GDDY) had its price target upped by Robert W. Baird from $150.00 to $175.00 in a research report report published on Friday, Benzinga reports. Robert W. Baird currently has an outperform rating on the technology company’s stock.

Other equities research analysts have also recently issued reports about the stock. Royal Bank of Canada lifted their price objective on shares of GoDaddy from $124.00 to $145.00 and gave the company an outperform rating in a research note on Friday, May 3rd. Raymond James started coverage on shares of GoDaddy in a research note on Wednesday, March 27th. They set a strong-buy rating and a $150.00 price objective on the stock. Barclays lifted their target price on GoDaddy from $130.00 to $150.00 and gave the stock an overweight rating in a report on Friday, May 3rd. Morgan Stanley lifted their target price on GoDaddy from $132.00 to $137.00 and gave the stock an equal weight rating in a report on Friday, May 3rd. Finally, StockNews.com raised GoDaddy from a buy rating to a strong-buy rating in a report on Wednesday, February 14th. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, GoDaddy presently has an average rating of Moderate Buy and a consensus target price of $145.00.

GoDaddy Stock Performance

GDDY stock opened at $140.14 on Friday. The company has a debt-to-equity ratio of 9.15, a quick ratio of 0.55 and a current ratio of 0.55. The stock has a market capitalization of $20.00 billion, a price-to-earnings ratio of 11.64 and a beta of 1.09. GoDaddy has a 1 year low of $69.18 and a 1 year high of $141.27. The stock’s fifty day moving average is $126.30 and its two-hundred day moving average is $112.99.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings data on Thursday, May 2nd. The technology company reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.08. GoDaddy had a net margin of 40.38% and a negative return on equity of 186.09%. The business had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.10 billion. On average, research analysts predict that GoDaddy will post 4.81 EPS for the current year.

Insider Buying and Selling

In related news, COO Roger Chen sold 4,000 shares of GoDaddy stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $114.11, for a total value of $456,440.00. Following the transaction, the chief operating officer now owns 208,632 shares of the company’s stock, valued at approximately $23,806,997.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other GoDaddy news, COO Roger Chen sold 4,000 shares of GoDaddy stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $114.11, for a total transaction of $456,440.00. Following the transaction, the chief operating officer now owns 208,632 shares of the company’s stock, valued at approximately $23,806,997.52. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Mark Mccaffrey sold 28,392 shares of GoDaddy stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $110.54, for a total value of $3,138,451.68. Following the transaction, the chief financial officer now directly owns 120,952 shares in the company, valued at approximately $13,370,034.08. The disclosure for this sale can be found here. In the last quarter, insiders have sold 129,292 shares of company stock valued at $14,567,860. 0.54% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On GoDaddy

Several institutional investors and hedge funds have recently bought and sold shares of GDDY. Gulf International Bank UK Ltd lifted its holdings in shares of GoDaddy by 0.9% during the 1st quarter. Gulf International Bank UK Ltd now owns 12,030 shares of the technology company’s stock valued at $1,427,000 after buying an additional 113 shares during the last quarter. Sivia Capital Partners LLC lifted its holdings in shares of GoDaddy by 3.9% during the 1st quarter. Sivia Capital Partners LLC now owns 3,023 shares of the technology company’s stock valued at $359,000 after buying an additional 113 shares during the last quarter. Ingalls & Snyder LLC lifted its holdings in shares of GoDaddy by 0.3% during the 4th quarter. Ingalls & Snyder LLC now owns 41,923 shares of the technology company’s stock valued at $4,451,000 after buying an additional 120 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of 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 buying an additional 133 shares during the last quarter. Finally, Parkside Financial Bank & Trust lifted its holdings in GoDaddy by 7.6% in the 3rd quarter. Parkside Financial Bank & Trust now owns 1,940 shares of the technology company’s stock worth $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.