Robert W. Baird Issues Positive Forecast for GoDaddy (NYSE:GDDY) Stock Price

GoDaddy (NYSE:GDDY) had its target price upped by equities research analysts at Robert W. Baird from $190.00 to $200.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the technology company’s stock. Robert W. Baird’s price target would suggest a potential upside of 23.72% from the stock’s previous close.

Other research analysts also recently issued research reports about the stock. Cantor Fitzgerald reiterated a “neutral” rating and issued a $170.00 price objective on shares of GoDaddy in a research report on Monday, October 7th. Benchmark reaffirmed a “buy” rating and set a $186.00 target price on shares of GoDaddy in a research note on Tuesday, October 15th. B. Riley lifted their price target 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. Royal Bank of Canada lifted their target price on shares of GoDaddy from $145.00 to $175.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. Finally, StockNews.com downgraded shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 7th. Five investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $167.62.

GoDaddy Stock Performance

Shares of NYSE GDDY opened at $161.66 on Thursday. The stock has a market cap of $23.07 billion, a price-to-earnings ratio of 13.43 and a beta of 1.12. GoDaddy has a 12 month low of $72.14 and a 12 month high of $167.65. The company has a 50 day simple moving average of $159.08 and a two-hundred day simple moving average of $146.68. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 24.13.

GoDaddy (NYSE:GDDY) last released its quarterly earnings data on Wednesday, October 30th. The technology company reported $1.32 EPS for the quarter, topping the consensus estimate of $1.25 by $0.07. The business had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.14 billion. GoDaddy had a negative return on equity of 709.73% and a net margin of 41.12%. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.89 EPS. As a group, analysts predict that GoDaddy will post 5.07 earnings per share for the current year.

Insiders Place Their Bets

In related news, COO Roger Chen sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $164.16, for a total transaction of $164,160.00. Following the completion of the sale, the chief operating officer now directly owns 186,632 shares of the company’s stock, valued at approximately $30,637,509.12. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other GoDaddy news, Director Sigal Zarmi sold 400 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $157.61, for a total value of $63,044.00. Following the sale, the director now directly owns 4,661 shares in the company, valued at $734,620.21. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Roger Chen sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $164.16, for a total value of $164,160.00. Following the sale, the chief operating officer now owns 186,632 shares of the company’s stock, valued at approximately $30,637,509.12. The trade was 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 valued at $4,089,571 over the last quarter. 0.61% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Plato Investment Management Ltd increased its position in shares of GoDaddy by 2,471.0% during the first quarter. Plato Investment Management Ltd now owns 6,479 shares of the technology company’s stock worth $769,000 after purchasing an additional 6,227 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its stake in GoDaddy by 20.0% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 214,514 shares of the technology company’s stock valued at $25,469,000 after acquiring an additional 35,703 shares during the last quarter. Forsta AP Fonden lifted its position in GoDaddy by 87.5% during the 1st quarter. Forsta AP Fonden now owns 84,000 shares of the technology company’s stock worth $9,969,000 after acquiring an additional 39,200 shares during the period. Swedbank AB grew its stake in shares of GoDaddy by 3.5% in the 2nd quarter. Swedbank AB now owns 153,353 shares of the technology company’s stock valued at $21,425,000 after purchasing an additional 5,247 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of GoDaddy by 866.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 10,335 shares of the technology company’s stock valued at $1,227,000 after purchasing an additional 9,266 shares during the period. Institutional investors and hedge funds own 90.28% of the company’s stock.

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.