GoDaddy (NYSE:GDDY) Price Target Raised to $228.00

GoDaddy (NYSE:GDDY) had its price objective upped by Morgan Stanley from $227.00 to $228.00 in a research note issued to investors on Friday morning,Benzinga reports. Morgan Stanley currently has an equal weight rating on the technology company’s stock.

Other analysts have also issued reports about the company. Wells Fargo & Company initiated coverage on GoDaddy in a research report on Monday, February 3rd. They set an “equal weight” rating and a $198.00 target price on the stock. Piper Sandler upped their target price on GoDaddy from $176.00 to $177.00 and gave the company a “neutral” rating in a research report on Friday. Benchmark raised their price target on shares of GoDaddy from $200.00 to $230.00 and gave the stock a “buy” rating in a research report on Thursday. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $230.00 price target (up from $190.00) on shares of GoDaddy in a report on Wednesday, December 4th. Finally, JPMorgan Chase & Co. raised their price objective on shares of GoDaddy from $224.00 to $231.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Six equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $213.20.

GoDaddy Stock Down 14.1 %

NYSE GDDY opened at $182.58 on Friday. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 10.61. GoDaddy has a fifty-two week low of $108.02 and a fifty-two week high of $216.00. The business has a 50 day moving average price of $204.20 and a two-hundred day moving average price of $180.30. The stock has a market cap of $25.63 billion, a PE ratio of 14.11 and a beta of 1.15.

GoDaddy (NYSE:GDDY) last announced its earnings results on Thursday, February 13th. The technology company reported $1.42 earnings per share 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 analysts’ expectations of $1.18 billion. As a group, sell-side analysts predict that GoDaddy will post 4.96 EPS for the current fiscal year.

Insider Activity at GoDaddy

In other news, Director Brian Sharples sold 500 shares of the business’s stock in a transaction 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 completion of the transaction, the director now owns 23,621 shares of the company’s stock, valued at approximately $4,671,525.17. The trade was a 2.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $207.70, for a total transaction of $623,100.00. Following the transaction, the chief executive officer now owns 330,153 shares of the company’s stock, valued at $68,572,778.10. This represents a 0.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 23,482 shares of company stock worth $4,709,650 in the last 90 days. 0.61% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On GoDaddy

A number of hedge funds have recently made changes to their positions in GDDY. Ashton Thomas Securities LLC bought a new stake in GoDaddy during the 3rd quarter valued at $27,000. Anchor Investment Management LLC acquired a new position in shares of GoDaddy during the third quarter valued at $31,000. Versant Capital Management Inc bought a new stake in shares of GoDaddy during the fourth quarter valued at about $43,000. Rakuten Securities Inc. lifted its holdings in GoDaddy by 311.3% in the fourth quarter. Rakuten Securities Inc. now owns 218 shares of the technology company’s stock worth $43,000 after purchasing an additional 165 shares during the period. Finally, Friedenthal Financial bought a new position in GoDaddy in the 4th quarter valued at about $49,000. 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.