GoDaddy (NYSE:GDDY) Price Target Raised to $100.00

GoDaddy (NYSE:GDDY) had its price objective increased by Cantor Fitzgerald from $90.00 to $100.00 in a report published on Monday morning, MarketBeat Ratings reports. They currently have a neutral rating on the technology company’s stock.

Other analysts have also recently issued reports about the company. Piper Sandler reaffirmed a “neutral” rating and set a $95.00 price objective (up from $93.00) on shares of GoDaddy in a research report on Friday, July 31st. Citigroup decreased their target price on GoDaddy from $110.00 to $105.00 and set a “buy” rating for the company in a research report on Monday, August 3rd. William Blair cut GoDaddy from an “outperform” rating to a “market perform” rating in a research note on Friday, July 31st. Robert W. Baird lifted their price target on GoDaddy from $110.00 to $120.00 and gave the company an “outperform” rating in a research report on Friday, September 25th. Finally, Wedbush reduced their price target on GoDaddy from $109.00 to $93.00 and set an “outperform” rating on the stock in a research note on Monday, August 3rd. Nine analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $111.00.

GoDaddy Stock Performance

Shares of GDDY stock opened at $108.39 on Monday. The firm has a market capitalization of $13.73 billion, a price-to-earnings ratio of 16.14 and a beta of 0.94. The stock has a fifty day moving average of $99.56 and a 200 day moving average of $91.25. GoDaddy has a 52 week low of $71.59 and a 52 week high of $137.93. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 561.10.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings data on Thursday, July 30th. The technology company reported $1.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.69 by $0.14. GoDaddy had a net margin of 17.83% and a return on equity of 660.96%. The business had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same period in the previous year, the firm earned $1.41 EPS. The company’s quarterly revenue was up 6.6% compared to the same quarter last year. As a group, research analysts expect that GoDaddy will post 7.24 earnings per share for the current year.

Insider Transactions at GoDaddy

In related news, CAO Phontip Palitwanon sold 530 shares of the firm’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $101.19, for a total transaction of $53,630.70. Following the completion of the transaction, the chief accounting officer owned 17,204 shares of the company’s stock, valued at $1,740,872.76. This trade represents a 2.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Mark McCaffrey sold 5,873 shares of GoDaddy stock in a transaction on 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 owned 99,855 shares of the company’s stock, valued at $10,076,368.05. The trade was a 5.55% decrease in their position. The SEC filing for this sale provides additional information. 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. Over the last 90 days, insiders sold 31,358 shares of company stock worth $3,031,831. Company insiders own 0.93% of the company’s stock.

Institutional Investors Weigh In On GoDaddy

A number of institutional investors have recently modified their holdings of the stock. Axxcess Wealth Management LLC purchased a new stake in shares of GoDaddy during the 3rd quarter valued at about $223,000. Albion Financial Group UT purchased a new position in shares of GoDaddy during the third quarter valued at approximately $39,000. Nisa Investment Advisors LLC raised its holdings in shares of GoDaddy by 8.9% during the third quarter. Nisa Investment Advisors LLC now owns 12,166 shares of the technology company’s stock valued at $1,162,000 after purchasing an additional 995 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its position in GoDaddy by 7.3% during the third quarter. Robeco Institutional Asset Management B.V. now owns 136,096 shares of the technology company’s stock valued at $12,999,000 after purchasing an additional 9,236 shares during the period. Finally, Rare Wolf Capital LLC bought a new position in GoDaddy during the third quarter valued at approximately $708,000. 90.28% of the stock is owned by hedge funds and other institutional investors.

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.