GoDaddy Inc. (NYSE:GDDY – Get Free Report) hit a new 52-week high during mid-day trading on Friday after UBS Group raised their price target on the stock from $118.00 to $130.00. UBS Group currently has a neutral rating on the stock. GoDaddy traded as high as $127.99 and last traded at $123.60, with a volume of 484746 shares trading hands. The stock had previously closed at $124.33.
A number of other brokerages have also recently weighed in on GDDY. Morgan Stanley increased their price target on GoDaddy from $132.00 to $137.00 and gave the stock an “equal weight” rating in a research report on Friday. Benchmark reissued a “buy” rating and issued a $150.00 price objective on shares of GoDaddy in a report on Wednesday. Raymond James assumed coverage on GoDaddy in a report on Wednesday, March 27th. They issued a “strong-buy” rating and a $150.00 price objective for the company. Barclays increased their price objective on GoDaddy from $130.00 to $150.00 and gave the stock an “overweight” rating in a report on Friday. Finally, Royal Bank of Canada increased their price objective on GoDaddy from $124.00 to $145.00 and gave the stock an “outperform” rating in a report on Friday. 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $142.73.
Get Our Latest Research Report on GoDaddy
Insiders Place Their Bets
Hedge Funds Weigh In On GoDaddy
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Louisiana State Employees Retirement System bought a new stake in shares of GoDaddy in the 4th quarter valued at about $4,204,000. SG Americas Securities LLC grew its stake in GoDaddy by 644.6% in the 4th quarter. SG Americas Securities LLC now owns 149,643 shares of the technology company’s stock valued at $15,886,000 after buying an additional 129,547 shares during the last quarter. Horrell Capital Management Inc. grew its stake in GoDaddy by 41.7% in the 4th quarter. Horrell Capital Management Inc. now owns 68,000 shares of the technology company’s stock valued at $7,219,000 after buying an additional 20,000 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new position in shares of GoDaddy during the 4th quarter worth approximately $773,000. Finally, Lecap Asset Management Ltd. acquired a new position in shares of GoDaddy during the 4th quarter worth approximately $2,328,000. 90.28% of the stock is owned by institutional investors and hedge funds.
GoDaddy Stock Performance
The stock’s 50-day simple moving average is $119.81 and its 200-day simple moving average is $106.11. The stock has a market cap of $17.62 billion, a price-to-earnings ratio of 12.91 and a beta of 1.09. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 61.07.
GoDaddy (NYSE:GDDY – Get Free Report) last posted its quarterly earnings results on Tuesday, February 13th. The technology company reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.05. The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.10 billion. GoDaddy had a net margin of 32.74% and a negative return on equity of 89.25%. Analysts forecast that GoDaddy Inc. will post 4.93 earnings per share for the current fiscal year.
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.
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