GoDaddy (NYSE:GDDY) Price Target Raised to $230.00

GoDaddy (NYSE:GDDY) had its target price hoisted by Benchmark from $200.00 to $230.00 in a research report report published on Thursday morning,Benzinga reports. They currently have a buy rating on the technology company’s stock.

Other equities research analysts have also recently issued reports about the stock. Morgan Stanley boosted their price objective on shares of GoDaddy from $189.00 to $227.00 and gave the company an “equal weight” rating in a research report on Monday, January 13th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $230.00 price objective (up from $190.00) on shares of GoDaddy in a research report on Wednesday, December 4th. Piper Sandler boosted their price target on shares of GoDaddy from $172.00 to $176.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Jefferies Financial Group boosted their price target on shares of GoDaddy from $170.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Finally, Citigroup boosted their price target on shares of GoDaddy from $240.00 to $251.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Six equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, GoDaddy has a consensus rating of “Moderate Buy” and a consensus price target of $213.20.

GoDaddy Price Performance

Shares of GDDY stock opened at $182.58 on Thursday. GoDaddy has a 12-month low of $108.02 and a 12-month high of $216.00. The firm has a market capitalization of $25.63 billion, a price-to-earnings ratio of 14.11 and a beta of 1.15. 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 firm has a fifty day moving average of $204.20 and a 200-day moving average of $180.06.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings results on Thursday, February 13th. The technology company reported $1.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.43 by ($0.01). GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. The firm had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.18 billion. On average, equities research analysts forecast that GoDaddy will post 4.96 earnings per share for the current year.

Insider Activity at GoDaddy

In other GoDaddy news, Director Brian Sharples sold 500 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $207.70, for a total transaction of $103,850.00. Following the transaction, the director now owns 22,621 shares in the company, valued at $4,698,381.70. This represents a 2.16 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $197.77, for a total transaction of $593,310.00. Following the transaction, the chief executive officer now owns 342,956 shares in the company, valued at approximately $67,826,408.12. The trade was a 0.87 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,482 shares of company stock worth $4,709,650. Insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Mercer Global Advisors Inc. ADV lifted its holdings in shares of GoDaddy by 4.5% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 64,438 shares of the technology company’s stock worth $12,718,000 after acquiring an additional 2,769 shares during the period. Westbourne Investments Inc. bought a new stake in shares of GoDaddy during the 4th quarter worth approximately $714,000. Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of GoDaddy by 88.2% during the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,082,381 shares of the technology company’s stock worth $213,630,000 after acquiring an additional 507,374 shares during the period. Freestone Grove Partners LP bought a new stake in shares of GoDaddy during the 4th quarter worth approximately $1,216,000. Finally, Rehmann Capital Advisory Group lifted its holdings in shares of GoDaddy by 4.1% during the 4th quarter. Rehmann Capital Advisory Group now owns 1,793 shares of the technology company’s stock worth $344,000 after acquiring an additional 71 shares during the period. Institutional investors and hedge funds 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.