GoDaddy (NYSE:GDDY) Price Target Raised to $243.00

GoDaddy (NYSE:GDDY) had its target price hoisted by Barclays from $235.00 to $243.00 in a research report report published on Friday,Benzinga reports. Barclays currently has an overweight rating on the technology company’s stock.

A number of other analysts have also issued reports on the stock. Citigroup boosted their target price 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. StockNews.com lowered shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 8th. Wells Fargo & Company started coverage on GoDaddy in a report on Monday, February 3rd. They issued an “equal weight” rating and a $198.00 price objective for the company. Benchmark lifted their price objective on GoDaddy from $200.00 to $230.00 and gave the company a “buy” rating in a report on Thursday. Finally, Robert W. Baird lifted their price objective on GoDaddy from $200.00 to $225.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. Six analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, GoDaddy currently has a consensus 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. The company has a fifty day moving average of $204.20 and a two-hundred day moving average of $180.30. The firm has a market capitalization of $25.63 billion, a price-to-earnings ratio of 14.11 and a beta of 1.15. GoDaddy has a 52 week low of $108.02 and a 52 week high of $216.00.

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

Insider Transactions at GoDaddy

In related news, CEO Amanpal Singh Bhutani sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $197.77, for a total value of $593,310.00. Following the sale, the chief executive officer now owns 342,956 shares in the company, valued at $67,826,408.12. This represents a 0.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Mark Mccaffrey sold 5,500 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $199.01, for a total value of $1,094,555.00. Following the completion of the sale, the chief financial officer now owns 84,300 shares in the company, valued at approximately $16,776,543. This represents a 6.12 % decrease in their position. The disclosure for this sale can be found here. Over 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 Investors Weigh In On GoDaddy

Several hedge funds have recently bought and sold shares of the stock. Mercer Global Advisors Inc. ADV boosted its position in GoDaddy by 4.5% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 64,438 shares of the technology company’s stock worth $12,718,000 after purchasing an additional 2,769 shares in the last quarter. Westbourne Investments Inc. purchased a new stake in GoDaddy in the 4th quarter worth approximately $714,000. Caisse DE Depot ET Placement DU Quebec raised its stake 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 buying an additional 507,374 shares during the period. Freestone Grove Partners LP acquired a new position in shares of GoDaddy during the 4th quarter worth approximately $1,216,000. Finally, Rehmann Capital Advisory Group raised its stake 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 buying an additional 71 shares during the period. Hedge funds and other 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.