Brokerages Set GoDaddy Inc. (NYSE:GDDY) Price Target at $166.54

GoDaddy Inc. (NYSE:GDDY) has received an average rating of “Moderate Buy” from the fourteen research firms that are currently covering the company, Marketbeat reports. Five research analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $166.54.

A number of analysts have recently commented on the company. Piper Sandler restated a “neutral” rating and issued a $172.00 target price (up previously from $160.00) on shares of GoDaddy in a research note on Monday, September 23rd. Barclays lifted their target price on shares of GoDaddy from $165.00 to $185.00 and gave the company an “overweight” rating in a report on Wednesday, September 25th. Benchmark reissued a “buy” rating and set a $186.00 price target on shares of GoDaddy in a report on Tuesday, October 15th. B. Riley lifted their price objective on shares of GoDaddy from $143.00 to $170.00 and gave the company a “buy” rating in a report on Friday, July 12th. Finally, StockNews.com lowered shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 7th.

GoDaddy Trading Down 0.3 %

Shares of NYSE:GDDY opened at $161.45 on Tuesday. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 24.13. GoDaddy has a 52-week low of $71.15 and a 52-week high of $167.65. The stock has a market cap of $23.04 billion, a price-to-earnings ratio of 13.41 and a beta of 1.12. The business has a 50-day moving average price of $159.32 and a 200-day moving average price of $145.55.

GoDaddy (NYSE:GDDY) last posted its quarterly 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 business had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.11 billion. GoDaddy had a negative return on equity of 709.73% and a net margin of 41.12%. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.63 earnings per share. Equities analysts predict that GoDaddy will post 5.07 EPS for the current year.

Insider Buying and Selling at GoDaddy

In related news, CAO Nick Daddario sold 684 shares of the business’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $157.23, for a total transaction of $107,545.32. Following the transaction, the chief accounting officer now directly owns 17,704 shares in the company, valued at approximately $2,783,599.92. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CAO Nick Daddario sold 684 shares of the stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $157.23, for a total value of $107,545.32. Following the completion of the sale, the chief accounting officer now owns 17,704 shares of the company’s stock, valued at approximately $2,783,599.92. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Sigal Zarmi sold 400 shares of the business’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $157.61, for a total value of $63,044.00. Following the transaction, the director now directly owns 4,661 shares in the company, valued at $734,620.21. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,744 shares of company stock worth $5,114,931. Corporate insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On GoDaddy

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Nisa Investment Advisors LLC boosted its position in shares of GoDaddy by 25.9% during the 3rd quarter. Nisa Investment Advisors LLC now owns 29,074 shares of the technology company’s stock worth $4,558,000 after purchasing an additional 5,986 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of GoDaddy by 31.6% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 4,944 shares of the technology company’s stock valued at $775,000 after buying an additional 1,187 shares in the last quarter. Arkadios Wealth Advisors acquired a new stake in shares of GoDaddy during the third quarter worth about $206,000. Forsta AP Fonden lifted its stake in GoDaddy by 1.7% in the third quarter. Forsta AP Fonden now owns 66,400 shares of the technology company’s stock valued at $10,410,000 after buying an additional 1,100 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in GoDaddy by 11.1% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,239 shares of the technology company’s stock worth $5,809,000 after purchasing an additional 3,729 shares during the period. 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.