GoDaddy (NYSE:GDDY) Price Target Raised to $150.00

GoDaddy (NYSE:GDDYGet Free Report) had its target price increased by research analysts at Robert W. Baird from $130.00 to $150.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage currently has an “outperform” rating on the technology company’s stock. Robert W. Baird’s price objective would indicate a potential upside of 23.33% from the company’s previous close.

Several other equities analysts also recently commented on the stock. StockNews.com upgraded shares of GoDaddy from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, February 14th. UBS Group boosted their price target on shares of GoDaddy from $110.00 to $118.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 14th. B. Riley boosted their price target on shares of GoDaddy from $124.00 to $142.00 and gave the stock a “buy” rating in a research note on Thursday, March 7th. Benchmark restated a “buy” rating and issued a $150.00 price target on shares of GoDaddy in a research note on Thursday, March 7th. Finally, Morgan Stanley boosted their price target on shares of GoDaddy from $120.00 to $132.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 14th. Four equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, GoDaddy has an average rating of “Moderate Buy” and an average target price of $133.44.

View Our Latest Stock Analysis on GDDY

GoDaddy Trading Up 1.0 %

NYSE GDDY opened at $121.62 on Monday. The firm’s 50-day moving average is $111.84 and its two-hundred day moving average is $96.62. GoDaddy has a 12 month low of $67.43 and a 12 month high of $121.77. The company has a debt-to-equity ratio of 61.07, a current ratio of 0.47 and a quick ratio of 0.47. The stock has a market capitalization of $17.33 billion, a P/E ratio of 12.70 and a beta of 1.12.

GoDaddy (NYSE:GDDYGet Free Report) last posted its earnings results on Tuesday, February 13th. The technology company reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $1.03 by $0.05. GoDaddy had a net margin of 32.74% and a negative return on equity of 89.25%. The company had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.10 billion. On average, sell-side analysts anticipate that GoDaddy will post 4.76 earnings per share for the current year.

Insider Transactions at GoDaddy

In other news, COO Roger Chen sold 4,000 shares of the stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $105.22, for a total transaction of $420,880.00. Following the completion of the sale, the chief operating officer now owns 153,716 shares in the company, valued at $16,173,997.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, COO Roger Chen sold 4,000 shares of the stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $105.22, for a total transaction of $420,880.00. Following the completion of the transaction, the chief operating officer now directly owns 153,716 shares of the company’s stock, valued at $16,173,997.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Mark Mccaffrey sold 505 shares of the stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $102.47, for a total transaction of $51,747.35. Following the transaction, the chief financial officer now directly owns 77,158 shares of the company’s stock, valued at $7,906,380.26. The disclosure for this sale can be found here. Over the last quarter, insiders sold 118,615 shares of company stock worth $13,157,935. Company insiders own 0.54% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. V Square Quantitative Management LLC purchased a new position in GoDaddy in the fourth quarter valued at about $28,000. Achmea Investment Management B.V. acquired a new stake in GoDaddy during the first quarter worth about $31,000. Frazier Financial Advisors LLC acquired a new stake in GoDaddy during the fourth quarter worth about $33,000. Quent Capital LLC increased its stake in GoDaddy by 2,113.6% during the third quarter. Quent Capital LLC now owns 487 shares of the technology company’s stock worth $36,000 after acquiring an additional 465 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV increased its stake in GoDaddy by 140.4% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 351 shares of the technology company’s stock worth $37,000 after acquiring an additional 205 shares during the last quarter. 90.28% of the stock is owned by hedge funds and other institutional investors.

GoDaddy Company Profile

(Get Free Report)

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.

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