Royal Bank of Canada Boosts GoDaddy (NYSE:GDDY) Price Target to $145.00

GoDaddy (NYSE:GDDY) had its target price lifted by Royal Bank of Canada from $124.00 to $145.00 in a research report released on Friday morning, Benzinga reports. The firm currently has an outperform rating on the technology company’s stock.

GDDY has been the topic of a number of other reports. JPMorgan Chase & Co. raised their price objective on GoDaddy from $128.00 to $136.00 and gave the company an overweight rating in a research note on Tuesday, April 2nd. Benchmark reaffirmed a buy rating and issued a $150.00 price target on shares of GoDaddy in a research note on Wednesday, May 1st. Piper Sandler increased 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. UBS Group lifted their target price on shares of GoDaddy from $110.00 to $118.00 and gave the stock a neutral rating in a research note on Wednesday, February 14th. Finally, StockNews.com raised shares of GoDaddy from a buy rating to a strong-buy rating in a research report on Wednesday, February 14th. Four equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, GoDaddy has an average rating of Moderate Buy and an average price target of $142.73.

GoDaddy Stock Up 3.8 %

Shares of GDDY opened at $128.34 on Friday. GoDaddy has a 1 year low of $68.98 and a 1 year high of $128.60. The company has a debt-to-equity ratio of 9.15, a current ratio of 0.55 and a quick ratio of 0.47. The stock has a 50 day simple moving average of $120.27 and a two-hundred day simple moving average of $107.24. The firm has a market cap of $18.29 billion, a P/E ratio of 10.66 and a beta of 1.09.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings data 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. GoDaddy had a net margin of 40.38% and a negative return on equity of 186.09%. The company had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.10 billion. On average, analysts forecast that GoDaddy will post 4.93 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, 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 value of $201,514.42. Following the completion of the sale, the chief accounting officer now owns 25,263 shares of the company’s stock, valued at $2,792,572.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other GoDaddy news, COO Roger Chen sold 4,000 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $114.11, for a total transaction of $456,440.00. Following the completion of the sale, the chief operating officer now owns 208,632 shares of the company’s stock, valued at $23,806,997.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 value of $201,514.42. Following the transaction, the chief accounting officer now owns 25,263 shares of the company’s stock, valued at $2,792,572.02. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 125,234 shares of company stock worth $14,025,346. 0.54% of the stock is owned by insiders.

Institutional Trading of GoDaddy

Institutional investors have recently made changes to their positions in the business. Ameriprise Financial Inc. grew its stake in GoDaddy by 9.7% during the third quarter. Ameriprise Financial Inc. now owns 6,360,266 shares of the technology company’s stock valued at $473,713,000 after acquiring an additional 561,614 shares in the last quarter. Norges Bank bought a new stake in shares of GoDaddy in the fourth quarter worth about $181,687,000. Jacobs Levy Equity Management Inc. lifted its position in shares of GoDaddy by 71.9% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,664,382 shares of the technology company’s stock worth $123,963,000 after buying an additional 695,897 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in 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. Finally, Northern Trust Corp grew its holdings in GoDaddy by 36.8% during the 3rd quarter. Northern Trust Corp now owns 1,395,619 shares of the technology company’s stock valued at $103,946,000 after buying an additional 375,568 shares in the last quarter. Hedge funds and other institutional investors own 90.28% of the company’s stock.

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.