GoDaddy (NYSE:GDDY) Price Target Raised to $225.00 at Robert W. Baird

GoDaddy (NYSE:GDDY) had its target price increased by Robert W. Baird from $200.00 to $225.00 in a research report report published on Tuesday,Benzinga reports. The brokerage currently has an outperform rating on the technology company’s stock.

Other analysts also recently issued reports about the company. Royal Bank of Canada lifted their price target on GoDaddy from $175.00 to $190.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. StockNews.com cut shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 8th. Barclays raised their price target on GoDaddy from $165.00 to $185.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 25th. B. Riley raised their price objective on shares of GoDaddy from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, Raymond James lifted their target price on GoDaddy from $150.00 to $175.00 and gave the company a “strong-buy” rating in a research note on Friday, August 2nd. Five analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, GoDaddy has an average rating of “Moderate Buy” and a consensus target price of $173.31.

GoDaddy Stock Performance

Shares of GDDY stock opened at $187.46 on Tuesday. GoDaddy has a 52 week low of $91.86 and a 52 week high of $190.21. The firm has a 50 day moving average of $163.41 and a two-hundred day moving average of $151.84. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 10.61. The stock has a market capitalization of $26.32 billion, a PE ratio of 14.49 and a beta of 1.11.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.07. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. The company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same quarter last year, the company earned $0.89 EPS. GoDaddy’s revenue for the quarter was up 7.3% compared to the same quarter last year. On average, research analysts predict that GoDaddy will post 4.95 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Mark Mccaffrey sold 5,500 shares of GoDaddy stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $164.75, for a total value of $906,125.00. Following the transaction, the chief financial officer now directly owns 101,286 shares of the company’s stock, valued at $16,686,868.50. The trade was a 5.15 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $166.91, for a total transaction of $500,730.00. Following the completion of the transaction, the chief executive officer now directly owns 358,773 shares in the company, valued at approximately $59,882,801.43. This represents a 0.83 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,845 shares of company stock valued at $4,803,380 in the last quarter. 0.61% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On GoDaddy

A number of institutional investors have recently added to or reduced their stakes in the company. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of GoDaddy by 0.4% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 18,097 shares of the technology company’s stock valued at $2,837,000 after purchasing an additional 67 shares in the last quarter. Prime Capital Investment Advisors LLC lifted its holdings in GoDaddy by 4.0% in the third quarter. Prime Capital Investment Advisors LLC now owns 1,885 shares of the technology company’s stock worth $296,000 after acquiring an additional 73 shares during the last quarter. Whittier Trust Co. raised its position in shares of GoDaddy by 4.3% during the 2nd quarter. Whittier Trust Co. now owns 1,781 shares of the technology company’s stock worth $249,000 after purchasing an additional 74 shares during the period. Lindbrook Capital LLC boosted its position in GoDaddy by 11.3% during the 3rd quarter. Lindbrook Capital LLC now owns 974 shares of the technology company’s stock valued at $153,000 after purchasing an additional 99 shares during the period. Finally, Equitable Trust Co. grew its stake in GoDaddy by 1.3% during the 3rd quarter. Equitable Trust Co. now owns 8,435 shares of the technology company’s stock worth $1,322,000 after buying an additional 107 shares during the last quarter. Institutional investors and hedge funds own 90.28% of the company’s stock.

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.