GoDaddy (NYSE:GDDY) Given New $200.00 Price Target at Benchmark

GoDaddy (NYSE:GDDY) had its target price boosted by Benchmark from $186.00 to $200.00 in a report issued on Thursday, Benzinga reports. They currently have a buy rating on the technology company’s stock.

Other equities analysts have also issued reports about the company. StockNews.com lowered GoDaddy from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 7th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $170.00 target price on shares of GoDaddy in a research report on Monday, October 7th. Robert W. Baird upped their target price on GoDaddy from $190.00 to $200.00 and gave the company an “outperform” rating in a research report on Thursday. Raymond James boosted their price target on GoDaddy from $150.00 to $175.00 and gave the company a “strong-buy” rating in a report on Friday, August 2nd. Finally, Barclays boosted their price target on 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 issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $171.38.

GoDaddy Stock Performance

GoDaddy stock opened at $163.36 on Thursday. The stock’s 50 day moving average price is $159.18 and its 200 day moving average price is $147.45. The firm has a market capitalization of $23.03 billion, a PE ratio of 12.62 and a beta of 1.11. The company has a debt-to-equity ratio of 10.61, a quick ratio of 0.48 and a current ratio of 0.56. GoDaddy has a one year low of $74.12 and a one year high of $171.93.

GoDaddy (NYSE:GDDY) last released its quarterly earnings results on Wednesday, October 30th. The technology company reported $1.32 EPS for the quarter, topping the consensus estimate of $1.25 by $0.07. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. The firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same period in the previous year, the company posted $0.89 EPS. GoDaddy’s revenue for the quarter was up 7.3% on a year-over-year basis. As a group, sell-side analysts expect that GoDaddy will post 5.09 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CAO Nick Daddario sold 684 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $157.23, for a total transaction of $107,545.32. Following the completion of the transaction, the chief accounting officer now directly owns 17,704 shares in the company, valued at $2,783,599.92. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other GoDaddy news, CAO Nick Daddario sold 684 shares of the business’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $157.23, for a total transaction of $107,545.32. Following the completion of the transaction, the chief accounting officer now owns 17,704 shares in the company, valued at approximately $2,783,599.92. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $166.91, for a total value of $500,730.00. Following the transaction, the chief executive officer now owns 358,773 shares of the company’s stock, valued at $59,882,801.43. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 25,744 shares of company stock worth $4,089,571 in the last three months. 0.61% of the stock is owned by insiders.

Institutional Trading of GoDaddy

Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of GoDaddy by 2.6% in the first quarter. Vanguard Group Inc. now owns 14,733,764 shares of the technology company’s stock valued at $1,748,603,000 after buying an additional 379,228 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of 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 purchasing an additional 1,775,708 shares during the last quarter. Federated Hermes Inc. lifted 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 purchasing an additional 394,399 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of GoDaddy by 37.7% during the second quarter. Dimensional Fund Advisors LP now owns 861,066 shares of the technology company’s stock valued at $120,305,000 after purchasing an additional 235,934 shares during the last quarter. Finally, Fiera Capital Corp lifted its holdings in shares of GoDaddy by 1.6% during the second quarter. Fiera Capital Corp now owns 828,326 shares of the technology company’s stock valued at $115,725,000 after purchasing an additional 13,206 shares during the last quarter. Institutional investors and hedge funds 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.