GoDaddy (NYSE:GDDY) Given New $176.00 Price Target at Piper Sandler

GoDaddy (NYSE:GDDY) had its target price upped by stock analysts at Piper Sandler from $172.00 to $176.00 in a report released on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the technology company’s stock. Piper Sandler’s price objective would indicate a potential upside of 8.87% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the stock. Royal Bank of Canada lifted their price objective on shares of GoDaddy from $145.00 to $175.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. B. Riley lifted their price objective on shares of GoDaddy from $143.00 to $170.00 and gave the company a “buy” rating in a research report on Friday, July 12th. StockNews.com cut shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 7th. Cantor Fitzgerald reiterated a “neutral” rating and set a $170.00 price objective on shares of GoDaddy in a research report on Monday, October 7th. Finally, Raymond James boosted their price target on shares of GoDaddy from $150.00 to $175.00 and gave the stock a “strong-buy” rating in a research report on Friday, August 2nd. Five equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $167.62.

GoDaddy Price Performance

NYSE GDDY opened at $161.66 on Thursday. GoDaddy has a 12 month low of $72.14 and a 12 month high of $167.65. The stock has a market cap of $23.07 billion, a price-to-earnings ratio of 13.43 and a beta of 1.12. The company’s 50 day moving average is $159.08 and its two-hundred day moving average is $146.68. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 24.13.

GoDaddy (NYSE:GDDY) last released its earnings results on Wednesday, October 30th. The technology company reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.07. GoDaddy had a net margin of 41.12% and a negative return on equity of 709.73%. The company had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter last year, the business earned $0.89 EPS. The firm’s revenue was up 7.3% compared to the same quarter last year. As a group, research analysts anticipate that GoDaddy will post 5.07 earnings per share for the current year.

Insiders Place Their Bets

In other GoDaddy news, Director Sigal Zarmi sold 400 shares of GoDaddy stock in a transaction on Friday, August 9th. The shares were sold at an average price of $157.61, for a total transaction of $63,044.00. Following the completion of the transaction, the director now directly owns 4,661 shares of the company’s stock, valued at $734,620.21. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other GoDaddy news, Director Sigal Zarmi sold 400 shares of GoDaddy stock in a transaction on Friday, August 9th. The shares were sold at an average price of $157.61, for a total transaction of $63,044.00. Following the completion of the transaction, the director now directly owns 4,661 shares of the company’s stock, valued at $734,620.21. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Nick Daddario sold 2,976 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $151.61, for a total transaction of $451,191.36. Following the sale, the chief accounting officer now directly owns 14,728 shares of the company’s stock, valued at $2,232,912.08. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 25,744 shares of company stock valued at $4,089,571 over the last three months. 0.61% of the stock is owned by company insiders.

Hedge Funds Weigh In On GoDaddy

A number of institutional investors have recently modified their holdings of GDDY. Plato Investment Management Ltd grew its stake in GoDaddy by 2,471.0% in the first quarter. Plato Investment Management Ltd now owns 6,479 shares of the technology company’s stock worth $769,000 after purchasing an additional 6,227 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its stake in shares of GoDaddy by 20.0% during the first quarter. CANADA LIFE ASSURANCE Co now owns 214,514 shares of the technology company’s stock valued at $25,469,000 after buying an additional 35,703 shares during the period. Forsta AP Fonden increased its stake in shares of GoDaddy by 87.5% during the first quarter. Forsta AP Fonden now owns 84,000 shares of the technology company’s stock valued at $9,969,000 after buying an additional 39,200 shares during the period. Swedbank AB raised its holdings in shares of GoDaddy by 3.5% in the second quarter. Swedbank AB now owns 153,353 shares of the technology company’s stock valued at $21,425,000 after acquiring an additional 5,247 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in GoDaddy by 866.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 10,335 shares of the technology company’s stock worth $1,227,000 after acquiring an additional 9,266 shares during the period. 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.