GoDaddy (NYSE:GDDY) Price Target Cut to $104.00 by Analysts at Barclays

GoDaddy (NYSE:GDDYGet Rating) had its target price reduced by stock analysts at Barclays from $118.00 to $104.00 in a research report issued on Tuesday, The Fly reports. Barclays‘s target price would suggest a potential upside of 57.65% from the company’s current price.

A number of other equities analysts have also weighed in on GDDY. Piper Sandler upgraded GoDaddy from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $94.00 to $110.00 in a research note on Monday, April 25th. Benchmark increased their target price on GoDaddy from $102.00 to $106.00 and gave the stock a “buy” rating in a research note on Thursday, May 5th. StockNews.com began coverage on GoDaddy in a research note on Thursday, March 31st. They set a “buy” rating on the stock. Finally, Jefferies Financial Group lowered their price objective on GoDaddy from $110.00 to $100.00 in a research note on Tuesday, May 31st. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $101.40.

NYSE:GDDY opened at $65.97 on Tuesday. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 46.37. The stock’s 50 day moving average price is $76.32 and its two-hundred day moving average price is $77.75. The firm has a market capitalization of $10.69 billion, a price-to-earnings ratio of 37.06, a P/E/G ratio of 2.04 and a beta of 0.97. GoDaddy has a 12-month low of $64.81 and a 12-month high of $90.43.

GoDaddy (NYSE:GDDYGet Rating) last released its quarterly earnings data on Wednesday, May 4th. The technology company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.01). The business had revenue of $1 billion during the quarter, compared to the consensus estimate of $989.20 million. GoDaddy had a net margin of 7.66% and a negative return on equity of 231.58%. GoDaddy’s quarterly revenue was up 11.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.06 EPS. Equities research analysts expect that GoDaddy will post 2.15 EPS for the current year.

In related news, CEO Amanpal Singh Bhutani sold 1,987 shares of the firm’s stock in a transaction on Monday, April 4th. The stock was sold at an average price of $86.51, for a total transaction of $171,895.37. Following the sale, the chief executive officer now owns 224,051 shares of the company’s stock, valued at approximately $19,382,652.01. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last three months, insiders have sold 3,637 shares of company stock worth $294,262. 0.37% of the stock is currently owned by company insiders.

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of GoDaddy by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 16,202,298 shares of the technology company’s stock worth $1,356,131,000 after acquiring an additional 107,949 shares in the last quarter. Capital International Investors raised its position in shares of GoDaddy by 0.9% in the 1st quarter. Capital International Investors now owns 15,180,010 shares of the technology company’s stock worth $1,270,920,000 after acquiring an additional 137,885 shares in the last quarter. Wellington Management Group LLP increased its position in GoDaddy by 28.5% in the 1st quarter. Wellington Management Group LLP now owns 13,754,555 shares of the technology company’s stock valued at $1,151,257,000 after buying an additional 3,052,975 shares in the last quarter. BlackRock Inc. increased its position in GoDaddy by 0.5% in the 4th quarter. BlackRock Inc. now owns 8,414,602 shares of the technology company’s stock valued at $714,066,000 after buying an additional 41,311 shares in the last quarter. Finally, Starboard Value LP increased its position in GoDaddy by 21.5% in the 1st quarter. Starboard Value LP now owns 8,250,420 shares of the technology company’s stock valued at $690,560,000 after buying an additional 1,459,021 shares in the last quarter. 98.38% of the stock is owned by hedge funds and other institutional investors.

About GoDaddy (Get Rating)

GoDaddy Inc engages in the design and development of cloud-based technology products in the United States and internationally. The company provides domain name registration product that enables to engage customers at the initial stage of establishing a digital identity. It also offers shared Website hosting products that provide various applications and products, such as web analytics, Secure Sockets Layer certificates, and WordPress; Website hosting on virtual private servers and virtual dedicated servers products, which allows customers to select the server configuration suited for their applications, requirements, and growth; managed hosting products to set up, monitor, maintain, secure, and patch software and servers for customers; and security products, a suite of tools designed to help secure customers' online presence.

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