GoDaddy (NYSE:GDDY) PT Raised to $130.00

GoDaddy (NYSE:GDDY) had its price objective lifted by UBS Group from $118.00 to $130.00 in a research note released on Friday morning, Benzinga reports. The brokerage currently has a neutral rating on the technology company’s stock.

A number of other equities research analysts have also recently weighed in on the stock. Barclays boosted their price target on shares of GoDaddy from $130.00 to $150.00 and gave the company an overweight rating in a research report on Friday. Piper Sandler lifted their price target on GoDaddy from $130.00 to $145.00 and gave the company an overweight rating in a report on Thursday, March 7th. Royal Bank of Canada upped their price objective on GoDaddy from $124.00 to $145.00 and gave the company an outperform rating in a research note on Friday. Raymond James began coverage on GoDaddy in a report on Wednesday, March 27th. They issued a strong-buy rating and a $150.00 price objective for the company. Finally, StockNews.com upgraded GoDaddy from a buy rating to a strong-buy rating in a research report on Wednesday, February 14th. Four analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, GoDaddy has an average rating of Moderate Buy and a consensus price target of $142.73.

GoDaddy Stock Performance

GDDY traded up $4.45 during midday trading on Friday, reaching $128.09. The company had a trading volume of 543,297 shares, compared to its average volume of 1,455,538. The stock has a market cap of $18.25 billion, a PE ratio of 10.27 and a beta of 1.09. The business has a 50-day moving average price of $119.99 and a two-hundred day moving average price of $106.87. GoDaddy has a 12-month low of $68.98 and a 12-month high of $128.60. The company has a debt-to-equity ratio of 9.15, a quick ratio of 0.47 and a current ratio of 0.55.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings results 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 negative return on equity of 186.09% and a net margin of 40.38%. On average, sell-side analysts expect that GoDaddy will post 4.93 earnings per share for the current fiscal year.

Insider Activity

In other news, CAO Nick Daddario sold 1,823 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $110.54, for a total value of $201,514.42. Following the completion of the transaction, the chief accounting officer now owns 25,263 shares of the company’s stock, valued at $2,792,572.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other GoDaddy news, COO Roger Chen sold 4,000 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $122.60, for a total transaction of $490,400.00. Following the sale, the chief operating officer now owns 200,632 shares in the company, valued at approximately $24,597,483.20. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Nick Daddario sold 1,823 shares of GoDaddy 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 transaction, the chief accounting officer now directly owns 25,263 shares of the company’s stock, valued at approximately $2,792,572.02. The disclosure for this sale can be found here. In the last quarter, insiders have sold 125,234 shares of company stock valued at $14,025,346. Insiders own 0.54% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of GDDY. Xponance Inc. grew its position in GoDaddy by 79.8% during the third quarter. Xponance Inc. now owns 27,804 shares of the technology company’s stock worth $2,071,000 after buying an additional 12,343 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of GoDaddy by 88.7% during the third quarter. Bank of New York Mellon Corp now owns 1,435,153 shares of the technology company’s stock valued at $106,890,000 after buying an additional 674,719 shares during the last quarter. New York State Teachers Retirement System boosted its position in shares of GoDaddy by 472.7% during the third quarter. New York State Teachers Retirement System now owns 79,612 shares of the technology company’s stock valued at $5,930,000 after purchasing an additional 65,712 shares in the last quarter. IFM Investors Pty Ltd boosted its stake in GoDaddy by 24.1% during the 3rd quarter. IFM Investors Pty Ltd now owns 47,345 shares of the technology company’s stock valued at $3,526,000 after purchasing an additional 9,195 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of GoDaddy by 40.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 47,796 shares of the technology company’s stock worth $3,560,000 after purchasing an additional 13,665 shares in the last quarter. 90.28% of the stock is currently owned by institutional investors.

About GoDaddy

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.