GoDaddy (NYSE:GDDY) Price Target Raised to $145.00

GoDaddy (NYSE:GDDY) had its target price boosted by Royal Bank of Canada from $124.00 to $145.00 in a research note released on Friday morning, Benzinga reports. The brokerage currently has an outperform rating on the technology company’s stock.

GDDY has been the topic of several other reports. JPMorgan Chase & Co. raised their price objective on GoDaddy from $128.00 to $136.00 and gave the stock an overweight rating in a research note on Tuesday, April 2nd. Piper Sandler upped their target price on shares of GoDaddy from $130.00 to $145.00 and gave the stock an overweight rating in a report on Thursday, March 7th. Barclays raised their target price on GoDaddy from $130.00 to $150.00 and gave the stock an overweight rating in a report on Friday. Evercore ISI cut GoDaddy from an outperform rating to an in-line rating and increased their price target for the company from $100.00 to $110.00 in a research report on Wednesday, February 14th. Finally, UBS Group increased their target price on shares of GoDaddy from $110.00 to $118.00 and gave the stock a neutral rating in a research report on Wednesday, February 14th. Four analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $142.73.

GoDaddy Stock Up 3.6 %

Shares of GoDaddy stock traded up $4.45 during trading on Friday, hitting $128.09. 543,297 shares of the stock traded hands, compared to its average volume of 1,455,538. The firm has a market cap of $18.25 billion, a P/E ratio of 10.27 and a beta of 1.09. GoDaddy has a 52-week low of $68.98 and a 52-week high of $128.60. The company has a current ratio of 0.55, a quick ratio of 0.47 and a debt-to-equity ratio of 9.15. The stock’s fifty day simple moving average is $119.99 and its 200 day simple moving average is $106.87.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings data on Tuesday, February 13th. The technology company reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.03 by $0.05. The firm had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.10 billion. GoDaddy had a net margin of 40.38% and a negative return on equity of 186.09%. On average, equities analysts predict that GoDaddy will post 4.93 earnings per share for the current fiscal year.

Insider Activity

In other GoDaddy news, COO Roger Chen sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $114.11, for a total transaction of $456,440.00. Following the completion of the sale, the chief operating officer now owns 208,632 shares in the company, valued at approximately $23,806,997.52. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other GoDaddy news, COO Roger Chen sold 4,000 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $114.11, for a total value of $456,440.00. Following the sale, the chief operating officer now owns 208,632 shares of the company’s stock, valued at approximately $23,806,997.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Nick Daddario sold 1,823 shares of GoDaddy stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $110.54, for a total value of $201,514.42. Following the transaction, the chief accounting officer now owns 25,263 shares in the company, valued at approximately $2,792,572.02. The disclosure for this sale can be found here. Insiders sold 125,234 shares of company stock worth $14,025,346 in the last 90 days. 0.54% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Norges Bank bought a new stake in shares of GoDaddy during the 4th quarter valued at about $181,687,000. Federated Hermes Inc. raised its position in GoDaddy by 3,402.0% during the fourth quarter. Federated Hermes Inc. now owns 955,559 shares of the technology company’s stock valued at $101,442,000 after purchasing an additional 928,273 shares during the period. Los Angeles Capital Management LLC grew its stake in shares of GoDaddy by 7,379.1% during the fourth quarter. Los Angeles Capital Management LLC now owns 723,752 shares of the technology company’s stock valued at $76,834,000 after buying an additional 714,075 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its stake in shares of GoDaddy by 71.9% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,664,382 shares of the technology company’s stock valued at $123,963,000 after acquiring an additional 695,897 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of GoDaddy by 88.7% during the third quarter. Bank of New York Mellon Corp now owns 1,435,153 shares of the technology company’s stock valued at $106,890,000 after purchasing an additional 674,719 shares in the last quarter. Hedge funds and other 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.