GoDaddy (NYSE:GDDY) Given New $137.00 Price Target at Morgan Stanley

GoDaddy (NYSE:GDDY) had its price target increased by Morgan Stanley from $132.00 to $137.00 in a research report released on Friday, Benzinga reports. The brokerage currently has an equal weight rating on the technology company’s stock.

A number of other brokerages also recently issued reports on GDDY. Royal Bank of Canada raised their price target on shares of GoDaddy from $124.00 to $145.00 and gave the stock an outperform rating in a report on Friday. Barclays lifted their target price on GoDaddy from $130.00 to $150.00 and gave the company an overweight rating in a research report on Friday. Evercore ISI cut GoDaddy from an outperform rating to an in-line rating and increased their price target for the stock from $100.00 to $110.00 in a report on Wednesday, February 14th. Piper Sandler boosted their price objective on shares of GoDaddy from $130.00 to $145.00 and gave the company an overweight rating in a report on Thursday, March 7th. Finally, Benchmark reaffirmed a buy rating and set a $150.00 target price on shares of GoDaddy in a research note on Wednesday, May 1st. Four analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $142.73.

GoDaddy Stock Performance

Shares of GoDaddy stock opened at $128.34 on Friday. The company has a debt-to-equity ratio of 9.15, a quick ratio of 0.47 and a current ratio of 0.55. The business’s 50 day moving average price is $120.27 and its 200 day moving average price is $107.24. The company has a market cap of $18.29 billion, a price-to-earnings ratio of 10.66 and a beta of 1.09. GoDaddy has a one year low of $68.98 and a one year high of $128.60.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings results on Tuesday, February 13th. The technology company reported $1.08 earnings per share for the quarter, beating the consensus estimate of $1.03 by $0.05. GoDaddy had a net margin of 40.38% and a negative return on equity of 186.09%. The firm had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.10 billion. On average, research analysts predict that GoDaddy will post 4.93 EPS for the current year.

Insider Buying and Selling at GoDaddy

In other news, COO Roger Chen sold 4,000 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $114.11, for a total transaction of $456,440.00. Following the sale, the chief operating officer now owns 208,632 shares of the company’s stock, valued at $23,806,997.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Mark Mccaffrey sold 28,392 shares of GoDaddy 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 $3,138,451.68. Following the completion of the transaction, the chief financial officer now owns 120,952 shares in the company, valued at $13,370,034.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Roger Chen sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $114.11, for a total transaction of $456,440.00. Following the transaction, the chief operating officer now owns 208,632 shares of the company’s stock, valued at approximately $23,806,997.52. The disclosure for this sale can be found here. Insiders sold 125,234 shares of company stock valued at $14,025,346 in the last 90 days. Company insiders own 0.54% of the company’s stock.

Institutional Investors Weigh In On GoDaddy

Several institutional investors have recently modified their holdings of the company. V Square Quantitative Management LLC purchased a new stake in GoDaddy during the 4th quarter worth about $28,000. GAMMA Investing LLC raised its position in shares of GoDaddy by 102.3% during the 1st quarter. GAMMA Investing LLC now owns 263 shares of the technology company’s stock worth $31,000 after acquiring an additional 133 shares in the last quarter. Frazier Financial Advisors LLC purchased a new stake in GoDaddy during the fourth quarter worth approximately $33,000. Massmutual Trust Co. FSB ADV boosted its holdings in GoDaddy by 140.4% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 351 shares of the technology company’s stock valued at $37,000 after purchasing an additional 205 shares in the last quarter. Finally, Fifth Third Bancorp purchased a new position in GoDaddy in the third quarter valued at approximately $43,000. 90.28% of the stock is owned by hedge funds and other institutional investors.

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.