GoDaddy (NYSE:GDDY) Given New $130.00 Price Target at UBS Group

GoDaddy (NYSE:GDDY) had its price objective upped by UBS Group from $118.00 to $130.00 in a report released on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the technology company’s stock. UBS Group’s target price suggests a potential upside of 5.14% from the company’s current price.

A number of other equities research analysts have also issued reports on the company. Piper Sandler lifted their target price on GoDaddy from $130.00 to $145.00 and gave the company an “overweight” rating in a research report on Thursday, March 7th. Royal Bank of Canada boosted their price target on GoDaddy from $124.00 to $145.00 and gave the stock an “outperform” rating in a research report on Friday. JPMorgan Chase & Co. boosted their price target on GoDaddy from $128.00 to $136.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. Barclays boosted their price target on GoDaddy from $130.00 to $150.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Robert W. Baird boosted their price target on GoDaddy from $130.00 to $150.00 and gave the stock an “outperform” rating in a research report on Monday, March 25th. Four analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $142.73.

GoDaddy Trading Down 0.6 %

GDDY traded down $0.69 during midday trading on Friday, reaching $123.64. 2,259,158 shares of the company were exchanged, compared to its average volume of 1,466,443. The company has a debt-to-equity ratio of 61.07, a quick ratio of 0.47 and a current ratio of 0.47. GoDaddy has a one year low of $67.43 and a one year high of $127.99. The stock has a market capitalization of $17.62 billion, a P/E ratio of 12.91 and a beta of 1.09. The stock’s 50-day simple moving average is $119.99 and its 200 day simple moving average is $106.44.

GoDaddy (NYSE:GDDY) last released its quarterly 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. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.10 billion. GoDaddy had a negative return on equity of 89.25% and a net margin of 32.74%. As a group, analysts forecast that GoDaddy will post 4.93 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, COO Roger Chen sold 4,000 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $122.60, for a total value of $490,400.00. Following the completion of the sale, the chief operating officer now directly owns 200,632 shares in the company, valued at $24,597,483.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other GoDaddy news, CFO Mark Mccaffrey sold 28,392 shares of GoDaddy stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $110.54, for a total value of $3,138,451.68. Following the completion of the sale, the chief financial officer now directly owns 120,952 shares in the company, valued at $13,370,034.08. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Roger Chen sold 4,000 shares of GoDaddy stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $122.60, for a total value of $490,400.00. Following the completion of the sale, the chief operating officer now owns 200,632 shares of the company’s stock, valued at $24,597,483.20. The disclosure for this sale can be found here. Insiders have sold a total of 125,234 shares of company stock worth $14,025,346 in the last ninety days. Company insiders own 0.54% of the company’s stock.

Institutional Investors Weigh In On GoDaddy

A number of hedge funds have recently added to or reduced their stakes in the business. Louisiana State Employees Retirement System bought a new stake in shares of GoDaddy during the fourth quarter valued at approximately $4,204,000. SG Americas Securities LLC grew its holdings in GoDaddy by 644.6% during the fourth quarter. SG Americas Securities LLC now owns 149,643 shares of the technology company’s stock worth $15,886,000 after buying an additional 129,547 shares in the last quarter. Horrell Capital Management Inc. grew its holdings in GoDaddy by 41.7% during the fourth quarter. Horrell Capital Management Inc. now owns 68,000 shares of the technology company’s stock worth $7,219,000 after buying an additional 20,000 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new position in GoDaddy in the fourth quarter worth $773,000. Finally, Lecap Asset Management Ltd. purchased a new position in GoDaddy in the fourth quarter worth $2,328,000. 90.28% of the stock is currently owned by 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.