Brokerages Set GoDaddy Inc. (NYSE:GDDY) Target Price at $118.43

Shares of GoDaddy Inc. (NYSE:GDDY) have been assigned a consensus rating of “Moderate Buy” from the fifteen analysts that are currently covering the stock, Marketbeat reports. Eight analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $118.4286.

Several research firms have recently commented on GDDY. Weiss Ratings restated a “hold (c-)” rating on shares of GoDaddy in a research report on Tuesday, June 16th. Benchmark cut their price objective on shares of GoDaddy from $195.00 to $185.00 and set a “buy” rating on the stock in a research report on Tuesday, April 28th. Wells Fargo & Company boosted their target price on shares of GoDaddy from $77.00 to $83.00 and gave the company an “equal weight” rating in a research note on Friday, May 1st. UBS Group started coverage on shares of GoDaddy in a research report on Tuesday, May 5th. They issued a “neutral” rating and a $100.00 target price for the company. Finally, JPMorgan Chase & Co. cut their price target on GoDaddy from $154.00 to $124.00 and set an “overweight” rating on the stock in a report on Thursday, June 18th.

GoDaddy Stock Up 0.2%

GDDY stock opened at $91.28 on Thursday. The company has a debt-to-equity ratio of 15.86, a current ratio of 0.67 and a quick ratio of 0.67. GoDaddy has a 1-year low of $71.59 and a 1-year high of $171.42. The firm has a fifty day moving average price of $85.33 and a two-hundred day moving average price of $90.80. The firm has a market cap of $12.09 billion, a price-to-earnings ratio of 14.44, a PEG ratio of 0.82 and a beta of 0.89.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings results on Thursday, April 30th. The technology company reported $1.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.53 by $0.07. GoDaddy had a net margin of 17.32% and a return on equity of 366.90%. The company had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.26 billion. During the same period last year, the firm posted $1.51 EPS. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. Research analysts predict that GoDaddy will post 7.13 EPS for the current year.

Insiders Place Their Bets

In other GoDaddy news, CFO Mark Mccaffrey sold 3,500 shares of the business’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $82.92, for a total transaction of $290,220.00. Following the completion of the transaction, the chief financial officer owned 105,728 shares in the company, valued at approximately $8,766,965.76. The trade was a 3.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Amanpal Singh Bhutani sold 8,373 shares of the stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $89.86, for a total value of $752,397.78. Following the completion of the transaction, the chief executive officer directly owned 521,747 shares of the company’s stock, valued at approximately $46,884,185.42. The trade was a 1.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 16,751 shares of company stock valued at $1,480,228 in the last quarter. 0.93% of the stock is owned by insiders.

Hedge Funds Weigh In On GoDaddy

Several large investors have recently bought and sold shares of the stock. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in GoDaddy during the 3rd quarter worth about $30,575,000. BNP Paribas Financial Markets boosted its holdings in shares of GoDaddy by 5.7% in the fourth quarter. BNP Paribas Financial Markets now owns 945,202 shares of the technology company’s stock worth $117,281,000 after buying an additional 50,959 shares during the period. Eurizon Capital SGR S.p.A. purchased a new position in shares of GoDaddy in the fourth quarter worth approximately $9,303,000. Northwestern Mutual Wealth Management Co. increased its position in shares of GoDaddy by 22,341.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 117,142 shares of the technology company’s stock worth $14,535,000 after acquiring an additional 116,620 shares in the last quarter. Finally, Swedbank AB raised its holdings in shares of GoDaddy by 433.9% during the fourth quarter. Swedbank AB now owns 645,754 shares of the technology company’s stock valued at $80,125,000 after acquiring an additional 524,811 shares during the period. Institutional investors and hedge funds own 90.28% of the company’s stock.

GoDaddy Company Profile

GoDaddy is a technology company that provides a suite of online services aimed primarily at small businesses, entrepreneurs and individuals looking to establish and grow an online presence. The company’s core activities include domain name registration and aftermarket services, a range of website hosting options, and tools for building, managing and promoting websites. Its product mix is designed to simplify the technical aspects of running a website so customers can focus on their businesses.

Product and service offerings span website builders and managed WordPress hosting, shared and dedicated hosting, e-commerce capabilities, email and productivity solutions, SSL certificates and site security tools, and online marketing and search engine optimization services.