GoDaddy (NYSE:GDDY) PT Raised to $150.00

GoDaddy (NYSE:GDDY) had its target price increased by Robert W. Baird from $130.00 to $150.00 in a report published on Monday morning, Benzinga reports. Robert W. Baird currently has an outperform rating on the technology company’s stock.

A number of other brokerages have also recently weighed in on GDDY. Benchmark restated a buy rating and set a $150.00 price objective on shares of GoDaddy in a research note on Thursday, March 7th. Morgan Stanley lifted their price objective on shares of GoDaddy from $120.00 to $132.00 and gave the stock an equal weight rating in a research report on Thursday, March 14th. Evercore ISI cut shares of GoDaddy from an outperform rating to an in-line rating and increased their target price for the company from $100.00 to $110.00 in a research report on Wednesday, February 14th. Barclays raised their target price on shares of GoDaddy from $125.00 to $130.00 and gave the company an overweight rating in a research note on Tuesday, February 20th. Finally, UBS Group upped their target price on GoDaddy from $110.00 to $118.00 and gave the company a neutral rating in a research report on Wednesday, February 14th. Four analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of $135.10.

GoDaddy Stock Down 2.8 %

Shares of GoDaddy stock opened at $118.68 on Monday. GoDaddy has a 1 year low of $67.43 and a 1 year high of $122.83. The company has a debt-to-equity ratio of 61.07, a current ratio of 0.47 and a quick ratio of 0.47. The stock has a market cap of $16.91 billion, a price-to-earnings ratio of 12.39 and a beta of 1.12. The firm’s 50-day moving average is $113.01 and its two-hundred day moving average is $97.59.

GoDaddy (NYSE:GDDY) last released its quarterly earnings data on Tuesday, February 13th. The technology company reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.03 by $0.05. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.10 billion. GoDaddy had a net margin of 32.74% and a negative return on equity of 89.25%. As a group, research analysts expect that GoDaddy will post 4.76 earnings per share for the current fiscal year.

Insider Transactions at GoDaddy

In other GoDaddy news, CFO Mark Mccaffrey sold 505 shares of the company’s stock in a transaction on Wednesday, January 3rd. The shares were sold at an average price of $102.47, for a total transaction of $51,747.35. Following the completion of the transaction, the chief financial officer now directly owns 77,158 shares in the company, valued at $7,906,380.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other GoDaddy news, CEO Amanpal Singh Bhutani sold 2,500 shares of the company’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $120.00, for a total value of $300,000.00. Following the completion of the sale, the chief executive officer now directly owns 384,323 shares in the company, valued at approximately $46,118,760. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Mark Mccaffrey sold 505 shares of the firm’s stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $102.47, for a total transaction of $51,747.35. Following the sale, the chief financial officer now owns 77,158 shares of the company’s stock, valued at $7,906,380.26. The disclosure for this sale can be found here. Insiders have sold 121,115 shares of company stock valued at $13,457,935 in the last 90 days. 0.54% of the stock is currently owned by company insiders.

Institutional Trading of GoDaddy

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in shares of GoDaddy by 0.7% in the first quarter. Vanguard Group Inc. now owns 16,202,298 shares of the technology company’s stock valued at $1,356,131,000 after purchasing an additional 107,949 shares during the period. BlackRock Inc. boosted its position in GoDaddy by 23.6% in the 2nd quarter. BlackRock Inc. now owns 10,522,511 shares of the technology company’s stock valued at $790,556,000 after buying an additional 2,010,233 shares during the period. Starboard Value LP grew its stake in shares of GoDaddy by 23.9% in the fourth quarter. Starboard Value LP now owns 10,233,055 shares of the technology company’s stock worth $765,637,000 after acquiring an additional 1,973,118 shares in the last quarter. Ameriprise Financial Inc. increased its position in shares of GoDaddy by 9.7% during the third quarter. Ameriprise Financial Inc. now owns 6,360,266 shares of the technology company’s stock worth $473,713,000 after acquiring an additional 561,614 shares during the period. Finally, Morgan Stanley raised its stake in shares of GoDaddy by 517.4% in the fourth quarter. Morgan Stanley now owns 6,125,512 shares of the technology company’s stock valued at $458,311,000 after acquiring an additional 5,133,332 shares in the last quarter. 90.28% of the stock is currently owned by hedge funds and other 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.