GoDaddy (NYSE:GDDY) Price Target Raised to $227.00

GoDaddy (NYSE:GDDY) had its price target increased by Morgan Stanley from $189.00 to $227.00 in a report released on Monday,Benzinga reports. They currently have an equal weight rating on the technology company’s stock.

Other research analysts have also recently issued research reports about the company. Benchmark increased their price objective on GoDaddy from $186.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Jefferies Financial Group increased their price target on shares of GoDaddy from $170.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. StockNews.com downgraded shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a report on Friday, November 8th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $230.00 target price (up from $190.00) on shares of GoDaddy in a report on Wednesday, December 4th. Finally, Robert W. Baird boosted their price target on GoDaddy from $200.00 to $225.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 19th. Five analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $194.14.

GoDaddy Stock Up 0.8 %

Shares of NYSE:GDDY opened at $199.01 on Monday. GoDaddy has a fifty-two week low of $103.64 and a fifty-two week high of $211.11. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 10.61. The firm’s 50-day simple moving average is $197.87 and its 200-day simple moving average is $170.37. The company has a market cap of $27.94 billion, a price-to-earnings ratio of 15.38 and a beta of 1.15.

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

Insider Activity

In related news, Director Brian Sharples sold 500 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $179.00, for a total transaction of $89,500.00. Following the transaction, the director now owns 24,121 shares of the company’s stock, valued at approximately $4,317,659. This represents a 2.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $167.79, for a total transaction of $503,370.00. Following the completion of the sale, the chief executive officer now directly owns 345,956 shares of the company’s stock, valued at $58,047,957.24. The trade was a 0.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 23,003 shares of company stock worth $4,462,363 over the last three months. 0.61% of the stock is currently owned by corporate insiders.

Institutional Trading of GoDaddy

A number of hedge funds have recently added to or reduced their stakes in GDDY. Ashton Thomas Securities LLC purchased a new position in shares of GoDaddy during the 3rd quarter worth about $27,000. ORG Wealth Partners LLC acquired a new position in GoDaddy during the third quarter worth approximately $30,000. Anchor Investment Management LLC acquired a new position in GoDaddy during the third quarter worth approximately $31,000. Versant Capital Management Inc purchased a new position in GoDaddy during the fourth quarter worth approximately $43,000. Finally, Friedenthal Financial acquired a new position in shares of GoDaddy in the 4th quarter valued at $49,000. 90.28% of the stock is owned by institutional investors and hedge funds.

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.