Raymond James Boosts GoDaddy (NYSE:GDDY) Price Target to $230.00

GoDaddy (NYSE:GDDY) had its price objective raised by stock analysts at Raymond James from $185.00 to $230.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has a “strong-buy” rating on the technology company’s stock. Raymond James’ price objective would suggest a potential upside of 12.64% from the stock’s previous close.

Other equities analysts have also issued reports about the stock. B. Riley raised their target price on shares of GoDaddy from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. lifted their price objective on shares of GoDaddy from $175.00 to $224.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Morgan Stanley increased their target price on shares of GoDaddy from $189.00 to $227.00 and gave the stock an “equal weight” rating in a research note on Monday, January 13th. Jefferies Financial Group boosted their price target on GoDaddy from $170.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Finally, Barclays lifted their target price on GoDaddy from $165.00 to $185.00 and gave the company an “overweight” rating in a research note on Wednesday, September 25th. Five equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $198.07.

GoDaddy Stock Down 0.7 %

Shares of NYSE:GDDY opened at $204.18 on Tuesday. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 10.61. The firm has a 50 day simple moving average of $199.53 and a 200-day simple moving average of $172.22. The company has a market capitalization of $28.67 billion, a PE ratio of 15.78 and a beta of 1.15. GoDaddy has a twelve month low of $106.42 and a twelve month high of $211.11.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings data on Wednesday, October 30th. The technology company reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.07. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. The company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same quarter last year, the company posted $0.89 earnings per share. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. On average, equities analysts predict that GoDaddy will post 4.96 EPS for the current fiscal year.

Insider Transactions at GoDaddy

In related news, CEO Amanpal Singh Bhutani sold 3,000 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $167.79, for a total value of $503,370.00. Following the sale, the chief executive officer now directly owns 345,956 shares in the company, valued at $58,047,957.24. The trade was a 0.86 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Brian Sharples sold 500 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $179.00, for a total transaction of $89,500.00. Following the transaction, the director now owns 24,121 shares of the company’s stock, valued at $4,317,659. This trade represents a 2.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 24,483 shares of company stock valued at $4,759,553 in the last quarter. 0.61% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Principal Financial Group Inc. increased its position in GoDaddy by 3.4% during the third quarter. Principal Financial Group Inc. now owns 198,058 shares of the technology company’s stock worth $31,052,000 after buying an additional 6,424 shares in the last quarter. Highland Capital Management LLC purchased a new stake in GoDaddy during the 3rd quarter worth about $1,132,000. CWA Asset Management Group LLC increased its position in GoDaddy by 29.2% during the 4th quarter. CWA Asset Management Group LLC now owns 16,071 shares of the technology company’s stock worth $3,172,000 after purchasing an additional 3,631 shares in the last quarter. Crossmark Global Holdings Inc. raised its stake in GoDaddy by 28.0% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 44,054 shares of the technology company’s stock valued at $6,907,000 after purchasing an additional 9,631 shares during the last quarter. Finally, Dai ichi Life Insurance Company Ltd lifted its holdings in GoDaddy by 39.6% in the 3rd quarter. Dai ichi Life Insurance Company Ltd now owns 60,022 shares of the technology company’s stock valued at $9,410,000 after purchasing an additional 17,021 shares in the last quarter. 90.28% of the stock is currently owned by institutional investors and hedge funds.

GoDaddy Company Profile

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.