GoDaddy (NYSE:GDDY) Price Target Raised to $225.00 at Robert W. Baird

GoDaddy (NYSE:GDDY) had its target price upped by Robert W. Baird from $200.00 to $225.00 in a research report sent to investors on Tuesday morning,Benzinga reports. The firm currently has an outperform rating on the technology company’s stock.

Other research analysts also recently issued research reports about the stock. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $170.00 price objective on shares of GoDaddy in a research note on Monday, October 7th. B. Riley lifted their target price on shares of GoDaddy from $170.00 to $190.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Benchmark upped their target price on GoDaddy from $186.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. StockNews.com lowered shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a report on Friday, November 8th. Finally, Piper Sandler lifted their price objective on GoDaddy from $172.00 to $176.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Five 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 company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $173.31.

GoDaddy Trading Up 1.4 %

GDDY opened at $192.85 on Tuesday. The company has a market cap of $27.07 billion, a P/E ratio of 14.90 and a beta of 1.11. GoDaddy has a one year low of $94.50 and a one year high of $193.26. The company has a debt-to-equity ratio of 10.61, a quick ratio of 0.56 and a current ratio of 0.56. The business’s 50-day simple moving average is $164.93 and its 200-day simple moving average is $152.55.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.07. The firm had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.14 billion. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. GoDaddy’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.89 earnings per share. As a group, equities research analysts expect that GoDaddy will post 4.95 EPS for the current fiscal year.

Insider Activity

In other GoDaddy news, CFO Mark Mccaffrey sold 5,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $164.75, for a total value of $906,125.00. Following the completion of the sale, the chief financial officer now directly owns 101,286 shares in the company, valued at $16,686,868.50. This represents a 5.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Roger Chen sold 1,000 shares of GoDaddy stock in a transaction on Friday, November 15th. The shares were sold at an average price of $183.80, for a total value of $183,800.00. Following the transaction, the chief operating officer now owns 185,632 shares in the company, valued at approximately $34,119,161.60. This trade represents a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,845 shares of company stock valued at $4,803,380. 0.61% of the stock is currently owned by insiders.

Hedge Funds Weigh In On GoDaddy

Several large investors have recently made changes to their positions in GDDY. State Street Corp raised its position in shares of GoDaddy by 2.2% during the third quarter. State Street Corp now owns 6,892,134 shares of the technology company’s stock worth $1,080,549,000 after purchasing an additional 147,105 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in GoDaddy by 94.4% during the first 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. Geode Capital Management LLC boosted its holdings in shares of GoDaddy by 2.5% in the third quarter. Geode Capital Management LLC now owns 3,423,622 shares of the technology company’s stock worth $535,153,000 after buying an additional 84,550 shares during the period. FMR LLC increased its position in shares of GoDaddy by 19.8% in the third quarter. FMR LLC now owns 1,660,283 shares of the technology company’s stock worth $260,299,000 after acquiring an additional 274,014 shares in the last quarter. Finally, Federated Hermes Inc. raised its holdings in shares of GoDaddy by 35.6% during the second quarter. Federated Hermes Inc. now owns 1,501,277 shares of the technology company’s stock valued at $209,743,000 after acquiring an additional 394,399 shares during the period. Institutional investors own 90.28% of the company’s stock.

About GoDaddy

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.