GoDaddy (NYSE:GDDY) Coverage Initiated by Analysts at Raymond James

Raymond James started coverage on shares of GoDaddy (NYSE:GDDY) in a research note published on Wednesday, MarketBeat Ratings reports. The firm issued a strong-buy rating and a $150.00 price target on the technology company’s stock.

GDDY has been the topic of a number of other research reports. Evercore ISI lowered shares of GoDaddy from an outperform rating to an in-line rating and upped their price target for the company from $100.00 to $110.00 in a research note on Wednesday, February 14th. Robert W. Baird boosted their price objective on shares of GoDaddy from $130.00 to $150.00 and gave the company an outperform rating in a report on Monday. Royal Bank of Canada reissued an outperform rating and issued a $124.00 price objective on shares of GoDaddy in a report on Thursday, March 7th. B. Riley boosted their price objective on shares of GoDaddy from $124.00 to $142.00 and gave the company a buy rating in a report on Thursday, March 7th. Finally, Barclays boosted their price objective on shares of GoDaddy from $125.00 to $130.00 and gave the company an overweight rating in a report on Tuesday, February 20th. Four equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $135.10.

GoDaddy Stock Up 0.9 %

GoDaddy stock opened at $122.07 on Wednesday. The firm has a market capitalization of $17.39 billion, a PE ratio of 12.74 and a beta of 1.12. The company’s 50-day moving average is $112.79 and its 200-day moving average is $97.44. GoDaddy has a fifty-two week low of $67.43 and a fifty-two week high of $122.83. The company has a debt-to-equity ratio of 61.07, a current ratio of 0.47 and a quick ratio of 0.47.

GoDaddy (NYSE:GDDY) last released its quarterly earnings data on Tuesday, February 13th. The technology company reported $1.08 earnings per share for the quarter, topping the consensus estimate 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 analyst estimates of $1.10 billion. Sell-side analysts anticipate that GoDaddy will post 4.76 earnings per share for the current year.

Insider Activity at GoDaddy

In related news, CAO Nick Daddario sold 1,823 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $110.54, for a total value of $201,514.42. Following the completion of the transaction, the chief accounting officer now owns 25,263 shares of the company’s stock, valued at approximately $2,792,572.02. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CFO Mark Mccaffrey sold 505 shares of the stock in a transaction that occurred on Wednesday, January 3rd. The shares were sold at an average price of $102.47, for a total value of $51,747.35. Following the completion of the transaction, the chief financial officer now owns 77,158 shares of the company’s stock, valued at approximately $7,906,380.26. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Nick Daddario sold 1,823 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $110.54, for a total transaction of $201,514.42. Following the completion of the transaction, the chief accounting officer now owns 25,263 shares of the company’s stock, valued at $2,792,572.02. The disclosure for this sale can be found here. Insiders sold a total of 121,115 shares of company stock valued at $13,457,935 in the last quarter. Insiders own 0.54% of the company’s stock.

Hedge Funds Weigh In On GoDaddy

Several institutional investors and hedge funds have recently added to or reduced their stakes in GDDY. Morgan Stanley increased its position in GoDaddy by 517.4% in the 4th quarter. Morgan Stanley now owns 6,125,512 shares of the technology company’s stock valued at $458,311,000 after acquiring an additional 5,133,332 shares during the period. BlackRock Inc. increased its position in GoDaddy by 23.6% in the 2nd quarter. BlackRock Inc. now owns 10,522,511 shares of the technology company’s stock valued at $790,556,000 after acquiring an additional 2,010,233 shares during the period. Starboard Value LP increased its position in GoDaddy by 23.9% in the 4th quarter. Starboard Value LP now owns 10,233,055 shares of the technology company’s stock valued at $765,637,000 after acquiring an additional 1,973,118 shares during the period. Norges Bank acquired a new position in GoDaddy in the 4th quarter valued at approximately $181,687,000. Finally, Price T Rowe Associates Inc. MD increased its position in GoDaddy by 777.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,880,286 shares of the technology company’s stock valued at $199,612,000 after acquiring an additional 1,666,022 shares during the period. 90.28% of the stock is currently owned by institutional investors and hedge funds.

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.