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

GoDaddy (NYSE:GDDY) had its price objective increased by stock analysts at Citigroup from $105.00 to $135.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. Citigroup‘s price objective points to a potential upside of 13.58% from the stock’s current price.

Other equities analysts also recently issued research reports about the stock. Robert W. Baird increased their price target on shares of GoDaddy from $110.00 to $120.00 and gave the company an “outperform” rating in a report on Friday, September 25th. Cantor Fitzgerald upped their target price on shares of GoDaddy from $90.00 to $100.00 and gave the stock a “neutral” rating in a research report on Monday, October 19th. UBS Group upped their target price on shares of GoDaddy from $100.00 to $112.00 and gave the stock a “neutral” rating in a research report on Friday. Deutsche Bank Aktiengesellschaft cut shares of GoDaddy to a “buy” rating in a report on Friday, July 31st. Finally, William Blair downgraded shares of GoDaddy from an “outperform” rating to a “market perform” rating in a research report on Friday, July 31st. Nine analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, GoDaddy has an average rating of “Hold” and an average target price of $113.62.

GoDaddy Stock Performance

GDDY traded up $1.62 during trading on Monday, hitting $118.86. The stock had a trading volume of 677,798 shares, compared to its average volume of 2,245,696. The company has a debt-to-equity ratio of 561.10, a quick ratio of 0.63 and a current ratio of 0.61. The firm has a market capitalization of $15.05 billion, a P/E ratio of 16.29 and a beta of 0.94. The company’s 50-day moving average price is $101.42 and its 200 day moving average price is $92.14. GoDaddy has a twelve month low of $71.59 and a twelve month high of $136.29.

GoDaddy (NYSE:GDDY) last released its earnings results on Thursday, October 29th. The technology company reported $2.08 EPS for the quarter, topping the consensus estimate of $1.90 by $0.18. The company had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.33 billion. GoDaddy had a net margin of 18.56% and a return on equity of 1,200.87%. The business’s revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the business earned $1.51 EPS. On average, equities research analysts forecast that GoDaddy will post 7.35 EPS for the current fiscal year.

Insider Buying and Selling at GoDaddy

In other GoDaddy news, CFO Mark McCaffrey sold 5,873 shares of the company’s stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $100.91, for a total value of $592,644.43. Following the transaction, the chief financial officer directly owned 99,855 shares in the company, valued at approximately $10,076,368.05. This represents a 5.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Sigal Zarmi sold 350 shares of GoDaddy stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $97.44, for a total transaction of $34,104.00. Following the sale, the director owned 8,283 shares of the company’s stock, valued at approximately $807,095.52. This trade represents a 4.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 26,858 shares of company stock valued at $2,657,656. 0.93% of the stock is owned by company insiders.

Institutional Trading of GoDaddy

Hedge funds have recently bought and sold shares of the company. WCM Investment Management LLC grew its position in shares of GoDaddy by 1.0% in the first quarter. WCM Investment Management LLC now owns 3,314,456 shares of the technology company’s stock valued at $270,924,000 after purchasing an additional 33,509 shares during the period. Bank of America Corp DE grew its holdings in GoDaddy by 27.9% in the 1st quarter. Bank of America Corp DE now owns 1,383,615 shares of the technology company’s stock valued at $114,383,000 after buying an additional 302,126 shares during the period. Bank of New York Mellon Corp increased its stake in shares of GoDaddy by 2.7% during the 1st quarter. Bank of New York Mellon Corp now owns 754,994 shares of the technology company’s stock valued at $62,415,000 after acquiring an additional 19,940 shares during the last quarter. Hsbc Holdings PLC increased its stake in shares of GoDaddy by 4.2% during the 1st quarter. Hsbc Holdings PLC now owns 659,664 shares of the technology company’s stock valued at $54,520,000 after acquiring an additional 26,537 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in shares of GoDaddy by 24.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 558,912 shares of the technology company’s stock valued at $53,382,000 after acquiring an additional 109,039 shares during the last quarter. Institutional investors and hedge funds own 90.28% of the company’s stock.

GoDaddy Company Profile

GoDaddy Inc (NYSE: GDDY) is a global technology company that provides online tools and services to entrepreneurs, small businesses and individuals. Its platform helps customers establish, manage and grow an online presence, with offerings that include domain-name registration, website hosting, website and online-store builders, professional email and digital marketing tools.

The company also provides services designed to support commerce and customer engagement, including e-commerce functionality, online appointment scheduling, payments and other business-management capabilities.