Benchmark Issues Positive Forecast for GoDaddy (NYSE:GDDY) Stock Price

GoDaddy (NYSE:GDDY) had its price objective boosted by investment analysts at Benchmark from $200.00 to $230.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. Benchmark’s target price would suggest a potential upside of 10.70% from the stock’s previous close.

GDDY has been the topic of a number of other reports. Royal Bank of Canada restated an “outperform” rating and set a $230.00 price target (up from $190.00) on shares of GoDaddy in a research report on Wednesday, December 4th. JPMorgan Chase & Co. lifted their price objective on GoDaddy from $224.00 to $231.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Citigroup raised their target price on shares of GoDaddy from $240.00 to $251.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. B. Riley lifted their price target on shares of GoDaddy from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, Morgan Stanley increased their price objective on shares of GoDaddy from $189.00 to $227.00 and gave the company an “equal weight” rating in a report on Monday, January 13th. Six 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 MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $200.53.

GoDaddy Price Performance

GoDaddy stock traded up $0.25 during trading hours on Thursday, hitting $207.78. 206,822 shares of the stock were exchanged, compared to its average volume of 1,103,693. The stock has a market capitalization of $29.17 billion, a P/E ratio of 16.06 and a beta of 1.15. The business’s 50-day moving average is $204.60 and its two-hundred day moving average is $179.11. The company has a debt-to-equity ratio of 10.61, a quick ratio of 0.56 and a current ratio of 0.56. GoDaddy has a 12 month low of $108.00 and a 12 month high of $216.00.

Insider Transactions at GoDaddy

In other GoDaddy news, CFO Mark Mccaffrey sold 480 shares of GoDaddy stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $201.29, for a total value of $96,619.20. Following the sale, the chief financial officer now owns 83,254 shares of the company’s stock, valued at $16,758,197.66. This trade represents a 0.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $197.77, for a total value of $593,310.00. Following the completion of the sale, the chief executive officer now owns 342,956 shares in the company, valued at approximately $67,826,408.12. This trade represents a 0.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 24,483 shares of company stock valued at $4,893,633 over the last quarter. Corporate insiders own 0.61% of the company’s stock.

Institutional Trading of GoDaddy

A number of institutional investors have recently made changes to their positions in GDDY. Principal Financial Group Inc. lifted its position in GoDaddy by 3.4% during the 3rd quarter. Principal Financial Group Inc. now owns 198,058 shares of the technology company’s stock worth $31,052,000 after buying an additional 6,424 shares in the last quarter. Highland Capital Management LLC acquired a new position in shares of GoDaddy during the 3rd quarter worth approximately $1,132,000. CWA Asset Management Group LLC raised its position in shares of GoDaddy by 29.2% in the fourth quarter. CWA Asset Management Group LLC now owns 16,071 shares of the technology company’s stock valued at $3,172,000 after purchasing an additional 3,631 shares during the period. Crossmark Global Holdings Inc. lifted its stake in shares of GoDaddy by 28.0% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 44,054 shares of the technology company’s stock worth $6,907,000 after buying an additional 9,631 shares during the last quarter. Finally, Dai ichi Life Insurance Company Ltd boosted its holdings in shares of GoDaddy by 39.6% during the 3rd quarter. Dai ichi Life Insurance Company Ltd now owns 60,022 shares of the technology company’s stock worth $9,410,000 after buying an additional 17,021 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.