GoDaddy (NYSE:GDDY) Price Target Raised to $185.00 at Barclays

GoDaddy (NYSE:GDDY) had its target price raised by Barclays from $165.00 to $185.00 in a research note released on Wednesday morning, Benzinga reports. They currently have an overweight rating on the technology company’s stock.

Several other research analysts also recently issued reports on GDDY. StockNews.com downgraded GoDaddy from a strong-buy rating to a buy rating in a report on Wednesday, August 7th. Raymond James raised their price target on GoDaddy from $150.00 to $175.00 and gave the company a strong-buy rating in a report on Friday, August 2nd. Robert W. Baird boosted their price objective on GoDaddy from $175.00 to $190.00 and gave the stock an outperform rating in a report on Friday, August 2nd. Benchmark raised their target price on shares of GoDaddy from $170.00 to $186.00 and gave the company a buy rating in a research note on Monday, August 26th. Finally, B. Riley lifted their price target on shares of GoDaddy from $143.00 to $170.00 and gave the stock a buy rating in a research report on Friday, July 12th. Six investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, GoDaddy presently has an average rating of Moderate Buy and an average price target of $166.54.

GoDaddy Price Performance

Shares of GoDaddy stock opened at $156.01 on Wednesday. GoDaddy has a twelve month low of $71.15 and a twelve month high of $167.65. The firm has a market cap of $22.26 billion, a P/E ratio of 12.96 and a beta of 1.13. The firm’s 50-day simple moving average is $155.31 and its 200-day simple moving average is $139.98. The company has a debt-to-equity ratio of 24.13, a quick ratio of 0.48 and a current ratio of 0.48.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings data on Thursday, August 1st. The technology company reported $1.01 earnings per share for the quarter, missing the consensus estimate of $1.07 by ($0.06). The firm had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.11 billion. GoDaddy had a negative return on equity of 709.73% and a net margin of 41.12%. GoDaddy’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.63 earnings per share. As a group, research analysts expect that GoDaddy will post 5.06 EPS for the current fiscal year.

Insider Activity

In other GoDaddy news, Director Sigal Zarmi sold 400 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $157.61, for a total transaction of $63,044.00. Following the sale, the director now directly owns 4,661 shares in the company, valued at approximately $734,620.21. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CAO Nick Daddario sold 684 shares of the stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $157.23, for a total transaction of $107,545.32. Following the completion of the transaction, the chief accounting officer now directly owns 17,704 shares in the company, valued at $2,783,599.92. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Sigal Zarmi sold 400 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $157.61, for a total value of $63,044.00. Following the completion of the sale, the director now owns 4,661 shares in the company, valued at approximately $734,620.21. The disclosure for this sale can be found here. Insiders have sold 31,744 shares of company stock worth $4,816,386 in the last 90 days. Corporate insiders own 0.61% of the company’s stock.

Institutional Trading of GoDaddy

Hedge funds and other institutional investors have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD grew its position in GoDaddy by 94.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,655,994 shares of the technology company’s stock valued at $433,895,000 after purchasing an additional 1,775,708 shares in the last quarter. Kodai Capital Management LP bought a new stake in GoDaddy during the first quarter worth about $75,855,000. Bank of Nova Scotia boosted its position in GoDaddy by 3,411.0% during the fourth quarter. Bank of Nova Scotia now owns 438,002 shares of the technology company’s stock valued at $46,497,000 after purchasing an additional 425,527 shares during the last quarter. Federated Hermes Inc. grew its stake in GoDaddy by 35.6% in the second quarter. Federated Hermes Inc. now owns 1,501,277 shares of the technology company’s stock valued at $209,743,000 after purchasing an additional 394,399 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in shares of GoDaddy by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 14,733,764 shares of the technology company’s stock worth $1,748,603,000 after purchasing an additional 379,228 shares during 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.