GoDaddy (NYSE:GDDY) Stock Price Expected to Rise, B. Riley Analyst Says

GoDaddy (NYSE:GDDY) had its price target upped by B. Riley from $170.00 to $190.00 in a report issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. B. Riley’s target price would suggest a potential upside of 13.75% from the company’s previous close.

A number of other equities analysts have also recently issued reports on the stock. Raymond James upped their price objective on shares of GoDaddy from $150.00 to $175.00 and gave the stock a “strong-buy” rating in a research report on Friday, August 2nd. Cantor Fitzgerald reissued a “neutral” rating and set a $170.00 target price on shares of GoDaddy in a report on Monday, October 7th. Barclays boosted their target price on shares of GoDaddy from $165.00 to $185.00 and gave the stock an “overweight” rating in a report on Wednesday, September 25th. Piper Sandler upped their price objective on shares of GoDaddy from $172.00 to $176.00 and gave the company a “neutral” rating in a research note on Thursday. Finally, StockNews.com downgraded GoDaddy from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 7th. Five research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $170.23.

GoDaddy Price Performance

Shares of NYSE:GDDY traded up $5.43 during midday trading on Thursday, hitting $167.03. The stock had a trading volume of 1,401,274 shares, compared to its average volume of 1,461,654. The company’s 50-day moving average price is $159.08 and its 200-day moving average price is $146.68. The company has a market capitalization of $23.83 billion, a P/E ratio of 13.88 and a beta of 1.12. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 24.13. GoDaddy has a fifty-two week low of $72.14 and a fifty-two week high of $171.74.

GoDaddy (NYSE:GDDY) last issued its earnings results on Wednesday, October 30th. The technology company reported $1.32 EPS for the quarter, beating the consensus estimate of $1.25 by $0.07. The company had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.14 billion. GoDaddy had a net margin of 41.12% and a negative return on equity of 709.73%. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.89 EPS. As a group, equities research analysts predict that GoDaddy will post 5.07 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CAO Nick Daddario sold 2,976 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $151.61, for a total value of $451,191.36. Following the sale, the chief accounting officer now directly owns 14,728 shares of the company’s stock, valued at $2,232,912.08. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other GoDaddy news, COO Roger Chen sold 1,000 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $152.17, for a total value of $152,170.00. Following the transaction, the chief operating officer now owns 187,632 shares of the company’s stock, valued at $28,551,961.44. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Nick Daddario sold 2,976 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $151.61, for a total value of $451,191.36. Following the completion of the transaction, the chief accounting officer now directly owns 14,728 shares in the company, valued at $2,232,912.08. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 25,744 shares of company stock worth $4,089,571 in the last quarter. 0.61% of the stock is owned by company insiders.

Hedge Funds Weigh In On GoDaddy

Hedge funds and other institutional investors have recently made changes to their positions in the company. Transcendent Capital Group LLC purchased a new stake in shares of GoDaddy during the 2nd quarter worth $28,000. ORG Wealth Partners LLC acquired a new stake in GoDaddy during the third quarter worth about $30,000. ORG Partners LLC acquired a new stake in GoDaddy during the second quarter worth about $32,000. International Assets Investment Management LLC acquired a new stake in GoDaddy during the second quarter worth about $36,000. Finally, New Covenant Trust Company N.A. acquired a new stake in GoDaddy during the first quarter worth about $45,000. Institutional investors 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.