GoDaddy (NYSE:GDDY) Given New $200.00 Price Target at Robert W. Baird

GoDaddy (NYSE:GDDY) had its target price upped by Robert W. Baird from $190.00 to $200.00 in a report released on Thursday morning, Benzinga reports. Robert W. Baird currently has an outperform rating on the technology company’s stock.

GDDY has been the subject of several other research reports. Raymond James raised their price target on shares of GoDaddy from $150.00 to $175.00 and gave the stock a “strong-buy” rating in a research note on Friday, August 2nd. StockNews.com downgraded GoDaddy from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 7th. Piper Sandler reaffirmed a “neutral” rating and set a $172.00 price target (up previously from $160.00) on shares of GoDaddy in a research report on Monday, September 23rd. Royal Bank of Canada lifted their price objective on GoDaddy from $145.00 to $175.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Finally, Barclays upped their price objective on shares of GoDaddy from $165.00 to $185.00 and gave the company an “overweight” rating in a report on Wednesday, September 25th. Five equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, GoDaddy currently has a consensus rating of “Moderate Buy” and a consensus target price of $170.23.

GoDaddy Stock Performance

Shares of GDDY stock traded down $0.55 during trading on Thursday, hitting $166.25. The company’s stock had a trading volume of 434,373 shares, compared to its average volume of 1,462,555. The business has a fifty day moving average of $159.17 and a 200-day moving average of $146.82. The company has a market cap of $23.44 billion, a PE ratio of 12.88 and a beta of 1.12. GoDaddy has a 52 week low of $74.12 and a 52 week high of $171.93. 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 announced its earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.07. The firm had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.14 billion. GoDaddy had a return on equity of 313.25% and a net margin of 41.74%. The business’s revenue was up 7.3% compared to the same quarter last year. During the same period last year, the firm posted $0.89 EPS. As a group, research analysts anticipate that GoDaddy will post 5.07 earnings per share for the current year.

Insider Activity

In related news, COO Roger Chen sold 1,000 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $164.16, for a total value of $164,160.00. Following the sale, the chief operating officer now owns 186,632 shares in the company, valued at approximately $30,637,509.12. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, COO Roger Chen sold 1,000 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $164.16, for a total transaction of $164,160.00. Following the completion of the transaction, the chief operating officer now owns 186,632 shares of the company’s stock, valued at approximately $30,637,509.12. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $155.60, for a total transaction of $466,800.00. Following the completion of the sale, the chief executive officer now directly owns 348,956 shares in the company, valued at $54,297,553.60. 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 worth $4,089,571 in the last three months. Corporate insiders own 0.61% of the company’s stock.

Institutional Trading of GoDaddy

A number of hedge funds have recently made changes to their positions in the stock. CWA Asset Management Group LLC purchased a new stake in GoDaddy during the third quarter valued at about $1,950,000. Equitable Trust Co. boosted its holdings in shares of GoDaddy by 1.3% in the 3rd quarter. Equitable Trust Co. now owns 8,435 shares of the technology company’s stock worth $1,322,000 after purchasing an additional 107 shares in the last quarter. Western Pacific Wealth Management LP bought a new position in shares of GoDaddy during the 3rd quarter valued at about $98,000. Principal Financial Group Inc. raised its holdings in shares of GoDaddy by 3.4% during the 3rd quarter. Principal Financial Group Inc. now owns 198,058 shares of the technology company’s stock valued at $31,052,000 after buying an additional 6,424 shares in the last quarter. Finally, Hanseatic Management Services Inc. lifted its position in GoDaddy by 4.9% in the 3rd quarter. Hanseatic Management Services Inc. now owns 4,793 shares of the technology company’s stock worth $751,000 after buying an additional 224 shares during the last quarter. 90.28% of the stock is owned by 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.