Barclays Boosts GoDaddy (NYSE:GDDY) Price Target to $185.00

GoDaddy (NYSE:GDDY) had its price objective raised by Barclays from $165.00 to $185.00 in a report issued on Wednesday morning, Benzinga reports. They currently have an overweight rating on the technology company’s stock.

A number of other analysts have also recently weighed in on the company. Cantor Fitzgerald reiterated a neutral rating and set a $170.00 price target on shares of GoDaddy in a research report on Monday, September 23rd. Raymond James raised their target price on GoDaddy from $150.00 to $175.00 and gave the company a strong-buy rating in a research note on Friday, August 2nd. B. Riley upped their price target on shares of GoDaddy from $143.00 to $170.00 and gave the stock a buy rating in a research report on Friday, July 12th. Citigroup increased their price objective on shares of GoDaddy from $150.00 to $165.00 and gave the stock a buy rating in a report on Friday, May 31st. Finally, StockNews.com lowered shares of GoDaddy from a strong-buy rating to a buy rating in a research note on Wednesday, August 7th. Six investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, GoDaddy has a consensus rating of Moderate Buy and an average target price of $166.54.

GoDaddy Stock Performance

GoDaddy stock opened at $156.00 on Wednesday. The company has a debt-to-equity ratio of 24.13, a current ratio of 0.48 and a quick ratio of 0.48. GoDaddy has a 12 month low of $71.15 and a 12 month high of $167.65. The company has a fifty day moving average price of $155.52 and a two-hundred day moving average price of $140.27. The company has a market cap of $22.26 billion, a PE ratio of 12.96 and a beta of 1.13.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings results on Thursday, August 1st. The technology company reported $1.01 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.06). The business had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.11 billion. GoDaddy had a net margin of 41.12% and a negative return on equity of 709.73%. The company’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period last year, the firm posted $0.63 earnings per share. Research analysts expect that GoDaddy will post 5.06 earnings per share for the current year.

Insider Buying and Selling

In related news, COO Roger Chen sold 4,000 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $139.79, for a total transaction of $559,160.00. Following the completion of the transaction, the chief operating officer now owns 192,632 shares of the company’s stock, valued at $26,928,027.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO Amanpal Singh Bhutani sold 4,500 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $139.79, for a total transaction of $629,055.00. Following the completion of the sale, the chief executive officer now owns 365,398 shares in the company, valued at approximately $51,078,986.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Roger Chen sold 4,000 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $139.79, for a total value of $559,160.00. Following the sale, the chief operating officer now directly owns 192,632 shares of the company’s stock, valued at $26,928,027.28. The disclosure for this sale can be found here. Insiders have sold a total of 31,744 shares of company stock valued at $4,816,386 over the last quarter. Corporate insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On GoDaddy

Several hedge funds have recently modified their holdings of the stock. V Square Quantitative Management LLC purchased a new stake in shares of GoDaddy in the 4th quarter valued at approximately $28,000. Transcendent Capital Group LLC acquired a new stake in shares of GoDaddy in the second quarter worth $28,000. GAMMA Investing LLC grew its holdings in shares of GoDaddy by 102.3% during the first quarter. GAMMA Investing LLC now owns 263 shares of the technology company’s stock valued at $31,000 after buying an additional 133 shares in the last quarter. ORG Partners LLC acquired a new position in GoDaddy during the second quarter valued at $32,000. Finally, International Assets Investment Management LLC purchased a new stake in GoDaddy in the 2nd quarter worth about $36,000. 90.28% of the stock is owned by hedge funds and other 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.