GoDaddy (NYSE:GDDY) Price Target Raised to $225.00

GoDaddy (NYSE:GDDY) had its price objective lifted by UBS Group from $172.00 to $225.00 in a research note issued to investors on Friday,Benzinga reports. They currently have a neutral rating on the technology company’s stock.

A number of other brokerages have also recently issued reports on GDDY. Raymond James increased their price objective on shares of GoDaddy from $185.00 to $230.00 and gave the company a “strong-buy” rating in a research note on Tuesday, January 21st. Barclays increased their price objective on shares of GoDaddy from $235.00 to $243.00 and gave the company an “overweight” rating in a research note on Friday. Citigroup increased their price objective on shares of GoDaddy from $240.00 to $251.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Piper Sandler increased their price objective on shares of GoDaddy from $176.00 to $177.00 and gave the company a “neutral” rating in a research note on Friday. Finally, Benchmark increased their price objective on shares of GoDaddy from $200.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday. Six equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $213.20.

GoDaddy Trading Down 14.1 %

Shares of GDDY stock opened at $182.58 on Friday. GoDaddy has a 1 year low of $108.02 and a 1 year high of $216.00. The firm’s fifty day simple moving average is $204.20 and its 200 day simple moving average is $180.30. The firm has a market capitalization of $25.63 billion, a P/E ratio of 14.11 and a beta of 1.15. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 10.61.

GoDaddy (NYSE:GDDY) last announced its earnings results on Thursday, February 13th. The technology company reported $1.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.01). GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.18 billion. As a group, sell-side analysts predict that GoDaddy will post 4.96 EPS for the current year.

Insider Buying and Selling

In other GoDaddy news, Director Brian Sharples sold 500 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $197.77, for a total transaction of $98,885.00. Following the sale, the director now directly owns 23,621 shares in the company, valued at approximately $4,671,525.17. This trade represents a 2.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Phontip Palitwanon sold 770 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $196.64, for a total transaction of $151,412.80. Following the sale, the chief accounting officer now owns 23,059 shares in the company, valued at $4,534,321.76. This trade represents a 3.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 23,482 shares of company stock valued at $4,709,650 in the last 90 days. 0.61% of the stock is owned by insiders.

Institutional Trading of GoDaddy

Several hedge funds have recently bought and sold shares of GDDY. Mercer Global Advisors Inc. ADV raised its holdings in shares of GoDaddy by 4.5% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 64,438 shares of the technology company’s stock valued at $12,718,000 after purchasing an additional 2,769 shares during the last quarter. Westbourne Investments Inc. acquired a new stake in shares of GoDaddy in the fourth quarter valued at approximately $714,000. Caisse DE Depot ET Placement DU Quebec raised its holdings in shares of GoDaddy by 88.2% in the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,082,381 shares of the technology company’s stock valued at $213,630,000 after purchasing an additional 507,374 shares during the last quarter. Freestone Grove Partners LP acquired a new stake in shares of GoDaddy in the fourth quarter valued at approximately $1,216,000. Finally, Rehmann Capital Advisory Group raised its holdings in shares of GoDaddy by 4.1% in the fourth quarter. Rehmann Capital Advisory Group now owns 1,793 shares of the technology company’s stock valued at $344,000 after purchasing an additional 71 shares during the last quarter. 90.28% of the stock is currently owned by institutional investors and hedge funds.

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.