GoDaddy Inc. (NYSE:GDDY) Receives $96.75 Average Target Price from Analysts

Shares of GoDaddy Inc. (NYSE:GDDYGet Rating) have received an average recommendation of “Buy” from the nine analysts that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $96.75.

Several equities research analysts have commented on the stock. Barclays upped their price objective on shares of GoDaddy from $104.00 to $107.00 and gave the company an “overweight” rating in a report on Thursday, August 4th. StockNews.com assumed coverage on shares of GoDaddy in a research report on Wednesday, October 12th. They set a “buy” rating on the stock. Raymond James reduced their price target on shares of GoDaddy from $100.00 to $88.00 and set a “strong-buy” rating on the stock in a research report on Friday, November 4th. Piper Sandler dropped their price objective on GoDaddy from $110.00 to $100.00 and set an “overweight” rating for the company in a research note on Friday, November 4th. Finally, Evercore ISI increased their price objective on GoDaddy to $91.00 in a research note on Tuesday, August 9th.

GoDaddy Price Performance

NYSE GDDY opened at $75.35 on Tuesday. GoDaddy has a 1 year low of $64.65 and a 1 year high of $88.32. The firm has a market cap of $11.71 billion, a price-to-earnings ratio of 35.54, a PEG ratio of 2.23 and a beta of 0.95. The company has a fifty day moving average price of $74.26 and a 200-day moving average price of $73.85.

Insider Buying and Selling

In other GoDaddy news, Director Leah Sweet sold 1,000 shares of GoDaddy stock in a transaction that occurred on Thursday, November 10th. The stock was sold at an average price of $72.13, for a total value of $72,130.00. Following the sale, the director now owns 8,138 shares of the company’s stock, valued at approximately $586,993.94. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Leah Sweet sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, November 10th. The stock was sold at an average price of $72.13, for a total transaction of $72,130.00. Following the transaction, the director now owns 8,138 shares of the company’s stock, valued at approximately $586,993.94. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Nick Daddario sold 565 shares of the company’s stock in a transaction on Wednesday, November 2nd. The shares were sold at an average price of $76.81, for a total value of $43,397.65. Following the completion of the transaction, the chief accounting officer now directly owns 14,999 shares in the company, valued at approximately $1,152,073.19. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,623 shares of company stock valued at $565,393. Corporate insiders own 0.37% of the company’s stock.

Institutional Investors Weigh In On GoDaddy

Hedge funds have recently made changes to their positions in the stock. Park Avenue Securities LLC grew its holdings in GoDaddy by 2.0% during the third quarter. Park Avenue Securities LLC now owns 7,120 shares of the technology company’s stock worth $505,000 after acquiring an additional 139 shares during the period. Ieq Capital LLC lifted its position in shares of GoDaddy by 4.6% in the third quarter. Ieq Capital LLC now owns 3,247 shares of the technology company’s stock valued at $230,000 after acquiring an additional 143 shares in the last quarter. IFP Advisors Inc lifted its position in GoDaddy by 5.5% during the third quarter. IFP Advisors Inc now owns 3,095 shares of the technology company’s stock worth $230,000 after buying an additional 162 shares in the last quarter. Quadrant Capital Group LLC increased its stake in GoDaddy by 23.3% during the first quarter. Quadrant Capital Group LLC now owns 947 shares of the technology company’s stock worth $79,000 after acquiring an additional 179 shares during the last quarter. Finally, Intech Investment Management LLC increased its stake in GoDaddy by 1.6% during the third quarter. Intech Investment Management LLC now owns 11,483 shares of the technology company’s stock worth $814,000 after acquiring an additional 183 shares during the last quarter. 96.50% of the stock is currently owned by hedge funds and other institutional investors.

About GoDaddy

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GoDaddy Inc engages in the design and development of cloud-based technology products in the United States and internationally. The company provides domain name registration product that enables to engage customers at the initial stage of establishing a digital identity. It also offers shared Website hosting products that provide various applications and products, such as web analytics, Secure Sockets Layer certificates, and WordPress; Website hosting on virtual private servers and virtual dedicated servers products, which allows customers to select the server configuration suited for their applications, requirements, and growth; managed hosting products to set up, monitor, maintain, secure, and patch software and servers for customers; and security products, a suite of tools designed to help secure customers' online presence.

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Analyst Recommendations for GoDaddy (NYSE:GDDY)

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