Brokerages Set GoDaddy Inc. (NYSE:GDDY) Target Price at $171.38

GoDaddy Inc. (NYSE:GDDY) has earned a consensus recommendation of “Moderate Buy” from the fourteen research firms that are covering the company, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $171.38.

GDDY has been the topic of a number of recent research reports. Royal Bank of Canada increased their price objective on GoDaddy from $175.00 to $190.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Barclays lifted their price objective on GoDaddy from $165.00 to $185.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 25th. StockNews.com downgraded shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 8th. Raymond James lifted their price target on shares of GoDaddy from $150.00 to $175.00 and gave the stock a “strong-buy” rating in a research report on Friday, August 2nd. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $170.00 price target on shares of GoDaddy in a research note on Monday, October 7th.

Insider Activity

In related news, Director Brian Sharples sold 500 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $179.00, for a total value of $89,500.00. Following the sale, the director now directly owns 24,121 shares of the company’s stock, valued at approximately $4,317,659. The trade was a 2.03 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Nick Daddario sold 684 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $157.23, for a total transaction of $107,545.32. Following the completion of the transaction, the chief accounting officer now directly owns 17,704 shares of the company’s stock, valued at approximately $2,783,599.92. The trade was a 3.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 28,844 shares of company stock worth $4,619,397 over the last quarter. 0.61% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Ashton Thomas Securities LLC bought a new stake in GoDaddy during the 3rd quarter worth about $27,000. Transcendent Capital Group LLC bought a new stake in GoDaddy during the second quarter worth about $28,000. ORG Wealth Partners LLC bought a new stake in GoDaddy during the third quarter worth about $30,000. ORG Partners LLC bought a new position in GoDaddy in the second quarter valued at approximately $32,000. Finally, International Assets Investment Management LLC acquired a new position in shares of GoDaddy during the 2nd quarter worth approximately $36,000. 90.28% of the stock is currently owned by institutional investors.

GoDaddy Price Performance

Shares of GoDaddy stock opened at $185.11 on Friday. The firm has a market cap of $25.99 billion, a P/E ratio of 14.14 and a beta of 1.11. The firm’s 50-day simple moving average is $162.76 and its 200-day simple moving average is $151.41. GoDaddy has a twelve month low of $91.86 and a twelve month high of $190.21. The company has a debt-to-equity ratio of 10.61, a quick ratio of 0.56 and a current ratio of 0.56.

GoDaddy (NYSE:GDDY) last issued its earnings results on Wednesday, October 30th. The technology company reported $1.32 EPS for the quarter, beating the consensus estimate of $1.25 by $0.07. The company had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.14 billion. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.89 EPS. As a group, research analysts expect that GoDaddy will post 4.95 EPS for the current fiscal year.

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.