GoDaddy Inc. (NYSE:GDDY – Get Free Report)’s share price reached a new 52-week high during trading on Friday after UBS Group raised their price target on the stock from $118.00 to $130.00. UBS Group currently has a neutral rating on the stock. GoDaddy traded as high as $127.99 and last traded at $123.60, with a volume of 484746 shares changing hands. The stock had previously closed at $124.33.
A number of other equities research analysts also recently issued reports on GDDY. Royal Bank of Canada increased their price objective on GoDaddy from $124.00 to $145.00 and gave the stock an “outperform” rating in a research report on Friday. Benchmark reaffirmed a “buy” rating and set a $150.00 price objective on shares of GoDaddy in a research note on Wednesday. Piper Sandler raised their price objective on GoDaddy from $130.00 to $145.00 and gave the company an “overweight” rating in a research note on Thursday, March 7th. Robert W. Baird raised their target price on GoDaddy from $130.00 to $150.00 and gave the stock an “outperform” rating in a research note on Monday, March 25th. Finally, JPMorgan Chase & Co. raised their price objective on shares of GoDaddy from $128.00 to $136.00 and gave the stock an “overweight” rating in a report on Tuesday, April 2nd. 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 company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $142.73.
Check Out Our Latest Stock Report on GDDY
Insider Transactions at GoDaddy
Institutional Investors Weigh In On GoDaddy
A number of institutional investors and hedge funds have recently bought and sold shares of GDDY. Mediolanum International Funds Ltd bought a new position in shares of GoDaddy in the 1st quarter worth $10,822,000. GSA Capital Partners LLP bought a new position in shares of GoDaddy in the 1st quarter worth $667,000. BI Asset Management Fondsmaeglerselskab A S grew its stake in GoDaddy by 62.4% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 4,994 shares of the technology company’s stock worth $593,000 after buying an additional 1,919 shares during the last quarter. Central Pacific Bank Trust Division acquired a new position in GoDaddy during the 1st quarter valued at about $930,000. Finally, Daiwa Securities Group Inc. raised its stake in GoDaddy by 14.2% in the first quarter. Daiwa Securities Group Inc. now owns 28,178 shares of the technology company’s stock valued at $3,344,000 after buying an additional 3,500 shares during the last quarter. 90.28% of the stock is owned by institutional investors.
GoDaddy Stock Performance
The firm has a market cap of $17.62 billion, a price-to-earnings ratio of 10.27 and a beta of 1.09. The company has a debt-to-equity ratio of 61.07, a current ratio of 0.47 and a quick ratio of 0.47. The firm has a fifty day simple moving average of $119.99 and a two-hundred day simple moving average of $106.65.
GoDaddy (NYSE:GDDY – Get Free Report) last released its earnings results on Tuesday, February 13th. The technology company reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $1.03 by $0.05. GoDaddy had a net margin of 40.38% and a negative return on equity of 102.82%. The company had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.10 billion. On average, analysts expect that GoDaddy Inc. will post 4.93 EPS for the current year.
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.
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