GoDaddy (NYSE:GDDY) Price Target Raised to $145.00 at Royal Bank of Canada

GoDaddy (NYSE:GDDY) had its price target upped by Royal Bank of Canada from $124.00 to $145.00 in a research note released on Friday morning, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the technology company’s stock.

A number of other analysts have also issued reports on GDDY. JPMorgan Chase & Co. raised their target price on GoDaddy from $128.00 to $136.00 and gave the company an overweight rating in a report on Tuesday, April 2nd. Benchmark reaffirmed a buy rating and set a $150.00 target price on shares of GoDaddy in a research report on Wednesday, May 1st. Raymond James initiated coverage on shares of GoDaddy in a research report on Wednesday, March 27th. They issued a strong-buy rating and a $150.00 price target on the stock. Evercore ISI lowered shares of GoDaddy from an outperform rating to an in-line rating and upped their price objective for the company from $100.00 to $110.00 in a research report on Wednesday, February 14th. Finally, Piper Sandler increased their target price on shares of GoDaddy from $130.00 to $145.00 and gave the company an overweight rating in a research note on Thursday, March 7th. Four analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $142.73.

GoDaddy Stock Performance

GDDY stock opened at $128.34 on Friday. The firm has a 50 day moving average of $120.27 and a two-hundred day moving average of $107.24. GoDaddy has a 12 month low of $68.98 and a 12 month high of $128.60. The company has a market capitalization of $18.29 billion, a price-to-earnings ratio of 10.66 and a beta of 1.09. The company has a quick ratio of 0.47, a current ratio of 0.55 and a debt-to-equity ratio of 9.15.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings data on Tuesday, February 13th. The technology company reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $1.10 billion. As a group, equities analysts anticipate that GoDaddy will post 4.93 EPS for the current fiscal year.

Insiders Place Their Bets

In other GoDaddy news, COO Roger Chen sold 4,000 shares of the business’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $122.60, for a total transaction of $490,400.00. Following the sale, the chief operating officer now directly owns 200,632 shares of the company’s stock, valued at approximately $24,597,483.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other GoDaddy news, COO Roger Chen sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $122.60, for a total value of $490,400.00. Following the completion of the transaction, the chief operating officer now directly owns 200,632 shares in the company, valued at $24,597,483.20. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Mark Mccaffrey sold 28,392 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $110.54, for a total value of $3,138,451.68. Following the sale, the chief financial officer now owns 120,952 shares in the company, valued at approximately $13,370,034.08. The disclosure for this sale can be found here. Insiders sold a total of 125,234 shares of company stock valued at $14,025,346 in the last quarter. 0.54% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of GDDY. Louisiana State Employees Retirement System acquired a new position in shares of GoDaddy in the fourth quarter valued at $4,204,000. SG Americas Securities LLC grew its stake in GoDaddy by 644.6% in the 4th quarter. SG Americas Securities LLC now owns 149,643 shares of the technology company’s stock valued at $15,886,000 after buying an additional 129,547 shares during the last quarter. Horrell Capital Management Inc. raised its holdings in GoDaddy by 41.7% in the 4th quarter. Horrell Capital Management Inc. now owns 68,000 shares of the technology company’s stock valued at $7,219,000 after acquiring an additional 20,000 shares during the period. Sequoia Financial Advisors LLC acquired a new stake in GoDaddy during the fourth quarter worth approximately $773,000. Finally, Lecap Asset Management Ltd. bought a new stake in shares of GoDaddy during the fourth quarter worth approximately $2,328,000. 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.