GoDaddy (NYSE:GDDY) Price Target Raised to $170.00

GoDaddy (NYSE:GDDY) had its price target hoisted by equities researchers at B. Riley from $143.00 to $170.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. B. Riley’s price target points to a potential upside of 18.33% from the stock’s current price.

Other analysts also recently issued reports about the company. Royal Bank of Canada raised their target price on GoDaddy from $124.00 to $145.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. Robert W. Baird boosted their target price on GoDaddy from $150.00 to $175.00 and gave the stock an “outperform” rating in a research note on Friday, May 24th. Raymond James assumed coverage on shares of GoDaddy in a report on Wednesday, March 27th. They set a “strong-buy” rating and a $150.00 target price on the stock. Evercore ISI upped their price target on shares of GoDaddy from $110.00 to $135.00 and gave the stock an “in-line” rating in a report on Friday, May 3rd. Finally, William Blair reiterated an “outperform” rating on shares of GoDaddy in a research report on Friday, May 3rd. Four investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, GoDaddy has a consensus rating of “Moderate Buy” and a consensus price target of $152.25.

GoDaddy Stock Performance

NYSE:GDDY traded up $1.55 on Friday, hitting $143.67. The company’s stock had a trading volume of 25,953 shares, compared to its average volume of 1,662,250. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 9.15. The stock has a fifty day moving average of $138.26 and a two-hundred day moving average of $122.46. The firm has a market capitalization of $20.50 billion, a P/E ratio of 11.93 and a beta of 1.14. GoDaddy has a one year low of $69.18 and a one year high of $145.36.

GoDaddy (NYSE:GDDY) last issued its earnings results on Thursday, May 2nd. The technology company reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.08. GoDaddy had a negative return on equity of 186.09% and a net margin of 40.38%. The firm had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.10 billion. Research analysts predict that GoDaddy will post 4.82 earnings per share for the current year.

Insiders Place Their Bets

In other news, COO Roger Chen sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $139.79, for a total transaction of $559,160.00. Following the completion of the sale, the chief operating officer now owns 192,632 shares in the company, valued at approximately $26,928,027.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Mark Mccaffrey sold 4,058 shares of the stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $133.69, for a total transaction of $542,514.02. Following the transaction, the chief financial officer now directly owns 112,473 shares in the company, valued at approximately $15,036,515.37. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Roger Chen sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $139.79, for a total transaction of $559,160.00. Following the completion of the transaction, the chief operating officer now owns 192,632 shares in the company, valued at approximately $26,928,027.28. The disclosure for this sale can be found here. Insiders sold 50,071 shares of company stock worth $6,875,606 in the last 90 days. Corporate insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On GoDaddy

Hedge funds and other institutional investors have recently modified their holdings of the stock. V Square Quantitative Management LLC acquired a new stake in shares of GoDaddy during the 4th quarter valued at about $28,000. GAMMA Investing LLC raised its holdings in shares of GoDaddy by 102.3% in the 1st quarter. GAMMA Investing LLC now owns 263 shares of the technology company’s stock worth $31,000 after buying an additional 133 shares in the last quarter. Frazier Financial Advisors LLC acquired a new stake in GoDaddy during the 4th quarter valued at $33,000. Massmutual Trust Co. FSB ADV increased its holdings in GoDaddy by 140.4% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 351 shares of the technology company’s stock valued at $37,000 after purchasing an additional 205 shares in the last quarter. Finally, New Covenant Trust Company N.A. acquired a new stake in shares of GoDaddy in the 1st quarter valued at $45,000. 90.28% of the stock is currently owned by institutional investors.

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.