GoDaddy (NYSE:GDDY) Price Target Raised to $186.00

GoDaddy (NYSE:GDDY) had its target price increased by Benchmark from $170.00 to $186.00 in a research note issued to investors on Monday, Benzinga reports. They currently have a buy rating on the technology company’s stock.

A number of other analysts also recently issued reports on the stock. William Blair reissued an outperform rating on shares of GoDaddy in a research report on Friday, May 3rd. B. Riley increased their target price on GoDaddy from $143.00 to $170.00 and gave the company a buy rating in a research note on Friday, July 12th. UBS Group raised their price objective on GoDaddy from $118.00 to $130.00 and gave the stock a neutral rating in a research note on Friday, May 3rd. JPMorgan Chase & Co. raised their price objective on GoDaddy from $136.00 to $175.00 and gave the stock an overweight rating in a research note on Wednesday, May 29th. Finally, Citigroup raised their target price on GoDaddy from $150.00 to $165.00 and gave the company a buy rating in a research note on Friday, May 31st. Four analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $163.58.

GoDaddy Trading Up 0.6 %

Shares of GDDY stock opened at $165.01 on Monday. The firm has a 50-day moving average price of $149.92 and a 200 day moving average price of $133.85. GoDaddy has a twelve month low of $71.15 and a twelve month high of $165.89. The company has a market capitalization of $23.54 billion, a price-to-earnings ratio of 13.71 and a beta of 1.14. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 9.15.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings data on Thursday, August 1st. The technology company reported $1.01 EPS for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.06). GoDaddy had a net margin of 41.12% and a negative return on equity of 363.95%. The company had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same period in the prior year, the company earned $0.63 EPS. The company’s revenue was up 7.3% compared to the same quarter last year. Research analysts forecast that GoDaddy will post 4.81 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other GoDaddy news, CEO Amanpal Singh Bhutani sold 6,825 shares of the business’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $138.09, for a total value of $942,464.25. Following the sale, the chief executive officer now directly owns 377,498 shares in the company, valued at $52,128,698.82. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CAO Nick Daddario sold 523 shares of GoDaddy stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $138.09, for a total value of $72,221.07. Following the transaction, the chief accounting officer now owns 22,666 shares of the company’s stock, valued at approximately $3,129,947.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Amanpal Singh Bhutani sold 6,825 shares of GoDaddy stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $138.09, for a total value of $942,464.25. Following the completion of the transaction, the chief executive officer now directly owns 377,498 shares in the company, valued at approximately $52,128,698.82. The disclosure for this sale can be found here. Over the last three months, insiders have sold 46,413 shares of company stock worth $6,510,706. 0.61% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On GoDaddy

Several institutional investors and hedge funds have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD grew its stake in shares of GoDaddy by 94.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,655,994 shares of the technology company’s stock valued at $433,895,000 after buying an additional 1,775,708 shares in the last quarter. Norges Bank bought a new stake in shares of GoDaddy during the fourth quarter valued at approximately $181,687,000. Los Angeles Capital Management LLC increased its position in shares of GoDaddy by 7,379.1% during the fourth quarter. Los Angeles Capital Management LLC now owns 723,752 shares of the technology company’s stock valued at $76,834,000 after purchasing an additional 714,075 shares during the period. Kodai Capital Management LP bought a new stake in shares of GoDaddy during the first quarter valued at approximately $75,855,000. Finally, Assenagon Asset Management S.A. grew its position in GoDaddy by 1,309.7% in the first quarter. Assenagon Asset Management S.A. now owns 509,002 shares of the technology company’s stock valued at $60,408,000 after acquiring an additional 472,894 shares during the period. Hedge funds and other institutional investors own 90.28% of the company’s stock.

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.