GoDaddy (NYSE:GDDY) Price Target Raised to $230.00

GoDaddy (NYSE:GDDY) had its price objective increased by Raymond James from $185.00 to $230.00 in a research report report published on Tuesday,Benzinga reports. The brokerage currently has a strong-buy rating on the technology company’s stock.

A number of other analysts have also commented on the stock. Citigroup boosted their price target on shares of GoDaddy from $240.00 to $251.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Jefferies Financial Group boosted their target price on shares of GoDaddy from $170.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Cantor Fitzgerald reiterated a “neutral” rating and set a $170.00 price target on shares of GoDaddy in a research note on Monday, October 7th. Robert W. Baird boosted their price objective on GoDaddy from $200.00 to $225.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. Finally, B. Riley raised their target price on GoDaddy from $170.00 to $190.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Five analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, GoDaddy currently has a consensus rating of “Moderate Buy” and an average target price of $198.07.

GoDaddy Price Performance

Shares of NYSE GDDY opened at $206.70 on Tuesday. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 10.61. The firm’s 50-day moving average price is $199.84 and its 200-day moving average price is $172.44. The firm has a market capitalization of $29.02 billion, a P/E ratio of 15.97 and a beta of 1.15. GoDaddy has a 1-year low of $106.42 and a 1-year high of $211.11.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.07. The business had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.14 billion. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. The company’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.89 earnings per share. Equities research analysts anticipate that GoDaddy will post 4.96 earnings per share for the current fiscal year.

Insider Activity at GoDaddy

In other news, COO Roger Chen sold 1,000 shares of the company’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $200.57, for a total transaction of $200,570.00. Following the transaction, the chief operating officer now owns 183,632 shares of the company’s stock, valued at $36,831,070.24. This represents a 0.54 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Phontip Palitwanon sold 770 shares of GoDaddy stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $196.64, for a total value of $151,412.80. Following the completion of the sale, the chief accounting officer now directly owns 23,059 shares of the company’s stock, valued at approximately $4,534,321.76. This trade represents a 3.23 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 24,483 shares of company stock worth $4,759,553. 0.61% of the stock is owned by company insiders.

Institutional Trading of GoDaddy

Hedge funds and other institutional investors have recently modified their holdings of the business. Ashton Thomas Securities LLC bought a new position in GoDaddy in the 3rd quarter worth approximately $27,000. ORG Wealth Partners LLC purchased a new stake in shares of GoDaddy during the third quarter worth $30,000. Anchor Investment Management LLC bought a new position in shares of GoDaddy in the third quarter worth $31,000. Versant Capital Management Inc purchased a new position in shares of GoDaddy in the fourth quarter valued at $43,000. Finally, Friedenthal Financial bought a new stake in shares of GoDaddy during the 4th quarter valued at $49,000. Institutional investors own 90.28% of the company’s stock.

GoDaddy Company Profile

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.