Brokerages Set GoDaddy Inc. (NYSE:GDDY) Price Target at $181.57

Shares of GoDaddy Inc. (NYSE:GDDY) have been assigned a consensus recommendation of “Moderate Buy” from the fifteen research firms that are covering the stock, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $181.57.

A number of research firms have recently commented on GDDY. JPMorgan Chase & Co. increased their price target on shares of GoDaddy from $175.00 to $224.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Royal Bank of Canada reiterated an “outperform” rating and set a $230.00 target price (up from $190.00) on shares of GoDaddy in a research note on Wednesday, December 4th. Cantor Fitzgerald restated a “neutral” rating and issued a $170.00 price target on shares of GoDaddy in a research note on Monday, October 7th. Piper Sandler increased their price objective on GoDaddy from $172.00 to $176.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Finally, Jefferies Financial Group lifted their price objective on GoDaddy from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th.

Insider Activity at GoDaddy

In other GoDaddy news, CFO Mark Mccaffrey sold 5,500 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $155.60, for a total transaction of $855,800.00. Following the completion of the sale, the chief financial officer now owns 93,102 shares of the company’s stock, valued at approximately $14,486,671.20. The trade was a 5.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the company’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $155.60, for a total value of $466,800.00. Following the completion of the sale, the chief executive officer now owns 348,956 shares of the company’s stock, valued at approximately $54,297,553.60. The trade was a 0.85 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 22,503 shares of company stock worth $3,950,683. 0.61% of the stock is owned by company insiders.

Hedge Funds Weigh In On GoDaddy

Several large investors have recently added to or reduced their stakes in the company. Franklin Resources Inc. lifted its stake in shares of GoDaddy by 10.2% during the 3rd quarter. Franklin Resources Inc. now owns 417,902 shares of the technology company’s stock valued at $68,565,000 after buying an additional 38,511 shares in the last quarter. Tidal Investments LLC lifted its position in shares of GoDaddy by 38.7% in the third quarter. Tidal Investments LLC now owns 18,643 shares of the technology company’s stock valued at $2,923,000 after acquiring an additional 5,205 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of GoDaddy in the third quarter worth about $922,000. Anchor Investment Management LLC purchased a new stake in shares of GoDaddy during the third quarter worth about $31,000. Finally, Te Ahumairangi Investment Management Ltd raised its stake in GoDaddy by 86.8% during the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 15,012 shares of the technology company’s stock valued at $2,340,000 after purchasing an additional 6,974 shares during the period. Hedge funds and other institutional investors own 90.28% of the company’s stock.

GoDaddy Trading Down 0.8 %

GoDaddy stock opened at $207.42 on Wednesday. GoDaddy has a 12 month low of $99.90 and a 12 month high of $211.11. The company has a market capitalization of $29.12 billion, a price-to-earnings ratio of 15.99 and a beta of 1.15. The business’s fifty day simple moving average is $181.71 and its two-hundred day simple moving average is $161.08. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 10.61.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.07. The company had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.14 billion. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. GoDaddy’s revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.89 EPS. As a group, equities analysts predict that GoDaddy will post 4.96 earnings per share for the current fiscal year.

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.