GoDaddy (NYSE:GDDY) Price Target Raised to $135.00 at Evercore ISI

GoDaddy (NYSE:GDDY) had its target price upped by analysts at Evercore ISI from $110.00 to $135.00 in a report issued on Friday, Benzinga reports. The brokerage presently has an “in-line” rating on the technology company’s stock. Evercore ISI’s target price would indicate a potential upside of 9.19% from the stock’s current price.

Several other research firms have also commented on GDDY. StockNews.com upgraded shares of GoDaddy from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, February 14th. Benchmark reaffirmed a “buy” rating and set a $150.00 price target on shares of GoDaddy in a report on Wednesday. Piper Sandler increased their price objective on GoDaddy from $130.00 to $145.00 and gave the stock an “overweight” rating in a report on Thursday, March 7th. B. Riley lifted their target price on GoDaddy from $124.00 to $142.00 and gave the company a “buy” rating in a research note on Thursday, March 7th. Finally, Robert W. Baird increased their price target on GoDaddy from $130.00 to $150.00 and gave the stock an “outperform” rating in a research note on Monday, March 25th. Four research analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, GoDaddy currently has a consensus rating of “Moderate Buy” and an average price target of $142.73.

GoDaddy Stock Performance

GDDY traded down $0.69 on Friday, hitting $123.64. 2,259,158 shares of the company’s stock were exchanged, compared to its average volume of 1,466,443. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 61.07. The stock has a fifty day moving average of $119.81 and a two-hundred day moving average of $106.11. GoDaddy has a twelve month low of $67.43 and a twelve month high of $127.99. The firm has a market cap of $17.62 billion, a PE ratio of 12.91 and a beta of 1.09.

GoDaddy (NYSE:GDDY) last posted its earnings results on Tuesday, February 13th. The technology company reported $1.08 EPS for the quarter, beating the consensus estimate of $1.03 by $0.05. The company had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.10 billion. GoDaddy had a negative return on equity of 89.25% and a net margin of 32.74%. On average, research analysts anticipate that GoDaddy will post 4.93 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CAO Nick Daddario sold 1,823 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $110.54, for a total transaction of $201,514.42. Following the completion of the sale, the chief accounting officer now owns 25,263 shares in the company, valued at approximately $2,792,572.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CAO Nick Daddario sold 1,823 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $110.54, for a total transaction of $201,514.42. Following the sale, the chief accounting officer now owns 25,263 shares in the company, valued at $2,792,572.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Roger Chen sold 4,000 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $114.11, for a total transaction of $456,440.00. Following the sale, the chief operating officer now directly owns 208,632 shares in the company, valued at $23,806,997.52. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 125,234 shares of company stock worth $14,025,346. Corporate insiders own 0.54% of the company’s stock.

Institutional Investors Weigh In On GoDaddy

A number of institutional investors have recently bought and sold shares of GDDY. V Square Quantitative Management LLC purchased a new stake in shares of GoDaddy in the fourth quarter worth approximately $28,000. GAMMA Investing LLC boosted its stake in shares of GoDaddy by 102.3% during the 1st quarter. GAMMA Investing LLC now owns 263 shares of the technology company’s stock valued at $31,000 after buying an additional 133 shares during the period. Frazier Financial Advisors LLC purchased a new position in shares of GoDaddy during the 4th quarter valued at $33,000. Massmutual Trust Co. FSB ADV increased its stake in shares of GoDaddy by 140.4% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 351 shares of the technology company’s stock worth $37,000 after acquiring an additional 205 shares during the last quarter. Finally, Fifth Third Bancorp acquired a new position in shares of GoDaddy in the third quarter worth $43,000. 90.28% of the stock is currently owned by institutional investors and hedge funds.

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.