GoDaddy Inc. (NYSE:GDDY – Get Free Report)’s share price reached a new 52-week high on Friday after Piper Sandler raised their price target on the stock from $145.00 to $160.00. Piper Sandler currently has an overweight rating on the stock. GoDaddy traded as high as $151.04 and last traded at $149.46, with a volume of 35842 shares traded. The stock had previously closed at $141.41.
A number of other equities research analysts have also weighed in on GDDY. B. Riley lifted their target price on shares of GoDaddy from $143.00 to $170.00 and gave the company a “buy” rating in a research note on Friday, July 12th. JPMorgan Chase & Co. upped their price target on GoDaddy from $136.00 to $175.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 29th. Robert W. Baird increased their price target on shares of GoDaddy from $150.00 to $175.00 and gave the stock an “outperform” rating in a research note on Friday, May 24th. Citigroup lifted their price target on shares of GoDaddy from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. Finally, Benchmark restated a “buy” rating and issued a $158.00 price target on shares of GoDaddy in a research note on Monday. 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 stock. According to MarketBeat, GoDaddy presently has a consensus rating of “Moderate Buy” and an average target price of $154.17.
View Our Latest Report on GoDaddy
Insiders Place Their Bets
Institutional Trading of GoDaddy
Hedge funds have recently modified their holdings of the business. Generate Investment Management Ltd boosted its stake in shares of GoDaddy by 95.3% during the 2nd quarter. Generate Investment Management Ltd now owns 88,208 shares of the technology company’s stock worth $12,324,000 after purchasing an additional 43,035 shares during the last quarter. Fiera Capital Corp increased its stake in GoDaddy by 1.6% during the 2nd quarter. Fiera Capital Corp now owns 828,326 shares of the technology company’s stock worth $115,725,000 after buying an additional 13,206 shares during the period. CIBC Asset Management Inc lifted its position in shares of GoDaddy by 248.6% during the second quarter. CIBC Asset Management Inc now owns 19,524 shares of the technology company’s stock worth $2,728,000 after purchasing an additional 13,924 shares during the last quarter. Convergence Investment Partners LLC acquired a new position in GoDaddy in the second quarter worth about $2,302,000. Finally, Ritholtz Wealth Management increased its holdings in GoDaddy by 68.8% in the second quarter. Ritholtz Wealth Management now owns 10,368 shares of the technology company’s stock valued at $1,449,000 after buying an additional 4,225 shares during the last quarter. 90.28% of the stock is owned by institutional investors and hedge funds.
GoDaddy Price Performance
The stock has a market cap of $21.33 billion, a price-to-earnings ratio of 12.21 and a beta of 1.14. The company has a 50 day simple moving average of $141.54 and a 200-day simple moving average of $126.70. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 9.15.
GoDaddy (NYSE:GDDY – Get Free Report) last announced its quarterly earnings data on Thursday, May 2nd. The technology company reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.08. The firm had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.10 billion. GoDaddy had a negative return on equity of 186.09% and a net margin of 40.38%. As a group, research analysts anticipate that GoDaddy Inc. will post 4.81 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.
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