GoDaddy Inc. (NYSE:GDDY) Receives $152.25 Consensus Target Price from Brokerages

Shares of GoDaddy Inc. (NYSE:GDDY) have earned an average recommendation of “Moderate Buy” from the fourteen research firms that are currently covering the stock, MarketBeat.com reports. Four investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $152.25.

A number of research analysts have recently weighed in on the company. B. Riley increased their price target on GoDaddy from $143.00 to $170.00 and gave the company a “buy” rating in a research note on Friday, July 12th. Barclays raised their price objective on GoDaddy from $130.00 to $150.00 and gave the stock an “overweight” rating in a research note on Friday, May 3rd. Morgan Stanley raised their price objective on GoDaddy from $132.00 to $137.00 and gave the stock an “equal weight” rating in a research note on Friday, May 3rd. Raymond James initiated coverage on GoDaddy in a research note on Wednesday, March 27th. They set a “strong-buy” rating and a $150.00 price objective on the stock. Finally, UBS Group raised their price objective on GoDaddy from $118.00 to $130.00 and gave the stock a “neutral” rating in a research note on Friday, May 3rd.

Insider Activity

In other news, CAO Nick Daddario sold 523 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $138.09, for a total value of $72,221.07. Following the completion of the transaction, the chief accounting officer now owns 22,666 shares in the company, valued at approximately $3,129,947.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Leah Sweet sold 1,000 shares of GoDaddy stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $141.59, for a total transaction of $141,590.00. Following the completion of the transaction, the director now owns 11,317 shares in the company, valued at $1,602,374.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Nick Daddario sold 523 shares of GoDaddy stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $138.09, for a total value of $72,221.07. Following the transaction, the chief accounting officer now owns 22,666 shares of the company’s stock, valued at approximately $3,129,947.94. The disclosure for this sale can be found here. Insiders sold 50,071 shares of company stock worth $6,875,606 in the last quarter. Corporate insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On GoDaddy

Several hedge funds have recently bought and sold shares of the stock. Nisa Investment Advisors LLC raised its position in shares of GoDaddy by 546.7% in the second quarter. Nisa Investment Advisors LLC now owns 23,088 shares of the technology company’s stock valued at $3,226,000 after buying an additional 19,518 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its position in shares of GoDaddy by 4.5% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 10,040 shares of the technology company’s stock valued at $1,403,000 after buying an additional 432 shares in the last quarter. Raymond James & Associates raised its position in shares of GoDaddy by 9.0% in the second quarter. Raymond James & Associates now owns 203,424 shares of the technology company’s stock valued at $28,420,000 after buying an additional 16,737 shares in the last quarter. Blue Trust Inc. raised its position in shares of GoDaddy by 336.0% in the second quarter. Blue Trust Inc. now owns 545 shares of the technology company’s stock valued at $76,000 after buying an additional 420 shares in the last quarter. Finally, Swedbank AB raised its position in shares of GoDaddy by 3.5% in the second quarter. Swedbank AB now owns 153,353 shares of the technology company’s stock valued at $21,425,000 after buying an additional 5,247 shares in the last quarter. 90.28% of the stock is currently owned by institutional investors and hedge funds.

GoDaddy Stock Up 0.5 %

NYSE GDDY opened at $145.19 on Friday. The firm has a market cap of $20.72 billion, a PE ratio of 12.06 and a beta of 1.14. GoDaddy has a one year low of $69.18 and a one year high of $148.71. The stock’s 50 day simple moving average is $140.12 and its 200 day simple moving average is $124.25. The company has a debt-to-equity ratio of 9.15, a current ratio of 0.55 and a quick ratio of 0.55.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings results on Thursday, May 2nd. The technology company reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.08. The company had revenue of $1.11 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%. As a group, sell-side analysts forecast that GoDaddy will post 4.81 earnings per share for the current fiscal 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.