Barclays Boosts GoDaddy (NYSE:GDDY) Price Target to $165.00

GoDaddy (NYSE:GDDY) had its price target upped by Barclays from $150.00 to $165.00 in a research note released on Friday, Benzinga reports. The brokerage currently has an overweight rating on the technology company’s stock.

Several other equities analysts have also issued reports on GDDY. Citigroup lifted their target price on shares of GoDaddy from $150.00 to $165.00 and gave the company a buy rating in a report on Friday, May 31st. William Blair reissued an outperform rating on shares of GoDaddy in a research note on Friday, May 3rd. Evercore ISI lifted their price target on GoDaddy from $110.00 to $135.00 and gave the stock an in-line rating in a research report on Friday, May 3rd. Royal Bank of Canada increased their price objective on shares of GoDaddy from $124.00 to $145.00 and gave the company an outperform rating in a research report on Friday, May 3rd. Finally, Robert W. Baird raised their price target on shares of GoDaddy from $150.00 to $175.00 and gave the company an outperform rating in a research report on Friday, May 24th. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $161.25.

GoDaddy Stock Down 2.3 %

Shares of NYSE:GDDY traded down $3.47 during trading on Friday, hitting $147.78. The stock had a trading volume of 586,398 shares, compared to its average volume of 1,620,744. 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 has a 12 month low of $69.18 and a 12 month high of $152.09. The company has a market capitalization of $21.09 billion, a PE ratio of 12.28 and a beta of 1.14. The firm’s fifty day moving average is $141.77 and its 200 day moving average is $127.32.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings data on Thursday, August 1st. The technology company reported $1.01 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.06). GoDaddy had a net margin of 41.12% and a negative return on equity of 363.95%. The firm had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.11 billion. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.63 EPS. Analysts anticipate that GoDaddy will post 4.81 EPS for the current fiscal year.

Insider Activity

In other GoDaddy news, COO Roger Chen sold 4,000 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $138.84, for a total value of $555,360.00. Following the transaction, the chief operating officer now directly owns 196,632 shares in the company, valued at $27,300,386.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other GoDaddy news, CFO Mark Mccaffrey sold 4,058 shares of GoDaddy stock in a transaction that occurred on 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 owns 112,473 shares of the company’s stock, valued at $15,036,515.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Roger Chen sold 4,000 shares of the stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $138.84, for a total transaction of $555,360.00. Following the completion of the sale, the chief operating officer now directly owns 196,632 shares of the company’s stock, valued at $27,300,386.88. The disclosure for this sale can be found here. Insiders sold 46,071 shares of company stock valued at $6,385,206 in the last quarter. 0.61% of the stock is currently owned by insiders.

Institutional Investors Weigh In On GoDaddy

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Whittier Trust Co. boosted its holdings in shares of GoDaddy by 4.3% during the 2nd quarter. Whittier Trust Co. now owns 1,781 shares of the technology company’s stock valued at $249,000 after purchasing an additional 74 shares during the last quarter. Gulf International Bank UK Ltd grew its holdings in GoDaddy by 0.9% during the 1st quarter. Gulf International Bank UK Ltd now owns 12,030 shares of the technology company’s stock valued at $1,427,000 after buying an additional 113 shares in the last quarter. Sivia Capital Partners LLC increased its stake in GoDaddy by 3.9% in the 1st quarter. Sivia Capital Partners LLC now owns 3,023 shares of the technology company’s stock worth $359,000 after acquiring an additional 113 shares during the last quarter. Ingalls & Snyder LLC raised its holdings in shares of GoDaddy by 0.3% during the 4th quarter. Ingalls & Snyder LLC now owns 41,923 shares of the technology company’s stock worth $4,451,000 after acquiring an additional 120 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of GoDaddy by 102.3% during the 1st quarter. GAMMA Investing LLC now owns 263 shares of the technology company’s stock valued at $31,000 after acquiring an additional 133 shares during the last quarter. 90.28% of the stock is 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.