GoDaddy (NYSE:GDDY) Price Target Increased to $190.00 by Analysts at Robert W. Baird

GoDaddy (NYSE:GDDY) had its price target boosted by investment analysts at Robert W. Baird from $175.00 to $190.00 in a research note issued on Friday, Benzinga reports. The firm currently has an “outperform” rating on the technology company’s stock. Robert W. Baird’s price target would indicate a potential upside of 26.36% from the stock’s current price.

Other research analysts have also recently issued reports about the stock. StockNews.com raised shares of GoDaddy from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Barclays increased their price target on GoDaddy from $150.00 to $165.00 and gave the company an “overweight” rating in a report on Friday. Benchmark restated a “buy” rating and set a $158.00 price objective on shares of GoDaddy in a research note on Monday. B. Riley raised their target price on GoDaddy from $143.00 to $170.00 and gave the company a “buy” rating in a report on Friday, July 12th. Finally, Evercore ISI upped their price target on GoDaddy from $110.00 to $135.00 and gave the stock an “in-line” rating in a report on Friday, May 3rd. Four investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $156.67.

GoDaddy Trading Up 6.3 %

Shares of NYSE GDDY traded up $8.95 on Friday, reaching $150.36. 923,803 shares of the company traded hands, compared to its average volume of 1,617,467. The stock has a market capitalization of $21.45 billion, a PE ratio of 12.49 and a beta of 1.14. GoDaddy has a fifty-two week low of $69.18 and a fifty-two week high of $151.04. 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 company has a 50 day moving average of $141.54 and a 200 day moving average of $126.70.

GoDaddy (NYSE:GDDY) last issued its earnings results on Thursday, May 2nd. The technology company reported $1.08 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.08. The business had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.10 billion. GoDaddy had a negative return on equity of 186.09% and a net margin of 40.38%. On average, equities research analysts forecast that GoDaddy will post 4.81 earnings per share for the current fiscal year.

Insider Activity at GoDaddy

In other GoDaddy news, CEO Amanpal Singh Bhutani sold 4,500 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $139.79, for a total transaction of $629,055.00. Following the sale, the chief executive officer now directly owns 365,398 shares in the company, valued at approximately $51,078,986.42. The transaction 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 firm’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $133.69, for a total transaction of $542,514.02. Following the completion of the sale, the chief financial officer now directly owns 112,473 shares of the company’s stock, valued at approximately $15,036,515.37. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Amanpal Singh Bhutani sold 4,500 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $139.79, for a total value of $629,055.00. Following the sale, the chief executive officer now directly owns 365,398 shares in the company, valued at $51,078,986.42. The disclosure for this sale can be found here. Insiders have sold a total of 46,071 shares of company stock worth $6,385,206 in the last three months. 0.61% of the stock is owned by company insiders.

Institutional Trading of GoDaddy

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Fiera Capital Corp grew its holdings in shares of GoDaddy by 1.3% during the fourth quarter. Fiera Capital Corp now owns 828,124 shares of the technology company’s stock valued at $87,914,000 after buying an additional 10,312 shares in the last quarter. Louisiana State Employees Retirement System purchased a new position in GoDaddy during the 4th quarter valued at about $4,204,000. Forsta AP Fonden increased its holdings in shares of GoDaddy by 87.5% in the 1st quarter. Forsta AP Fonden now owns 84,000 shares of the technology company’s stock valued at $9,969,000 after purchasing an additional 39,200 shares during the period. CANADA LIFE ASSURANCE Co lifted its position in shares of GoDaddy by 20.0% in the first quarter. CANADA LIFE ASSURANCE Co now owns 214,514 shares of the technology company’s stock worth $25,469,000 after purchasing an additional 35,703 shares in the last quarter. Finally, International Assets Investment Management LLC acquired a new stake in shares of GoDaddy during the fourth quarter worth approximately $1,972,000. Institutional investors and hedge funds own 90.28% of the company’s stock.

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.