GoDaddy (NYSE:GDDY) Given New $175.00 Price Target at Raymond James

GoDaddy (NYSE:GDDY) had its target price lifted by Raymond James from $150.00 to $175.00 in a report released on Friday, Benzinga reports. They currently have a strong-buy rating on the technology company’s stock.

GDDY has been the subject of a number of other research reports. Morgan Stanley boosted 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, May 3rd. UBS Group increased their price target on GoDaddy from $118.00 to $130.00 and gave the company a neutral rating in a report on Friday, May 3rd. Barclays boosted their price objective on shares of GoDaddy from $150.00 to $165.00 and gave the stock an overweight rating in a research note on Friday. Citigroup raised their target price on shares of GoDaddy from $150.00 to $165.00 and gave the company a buy rating in a research note on Friday, May 31st. Finally, Evercore ISI boosted their target price on shares of GoDaddy from $110.00 to $135.00 and gave the stock an in-line rating in a research report on Friday, May 3rd. Four investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $158.75.

GoDaddy Stock Up 7.0 %

Shares of NYSE GDDY traded up $9.84 during mid-day trading on Friday, reaching $151.25. The company had a trading volume of 2,407,777 shares, compared to its average volume of 1,159,537. The company has a debt-to-equity ratio of 9.15, a quick ratio of 0.55 and a current ratio of 0.55. GoDaddy has a twelve month low of $69.18 and a twelve month high of $152.09. The stock’s 50 day moving average is $141.77 and its 200-day moving average is $127.02. The stock has a market capitalization of $21.58 billion, a PE ratio of 12.56 and a beta of 1.14.

GoDaddy (NYSE:GDDY) last issued its earnings results on Thursday, May 2nd. The technology company reported $1.08 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.08. The company had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.10 billion. GoDaddy had a negative return on equity of 363.95% and a net margin of 41.12%. As a group, equities analysts anticipate that GoDaddy will post 4.81 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other GoDaddy news, CAO Nick Daddario sold 523 shares of the business’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $138.09, for a total value of $72,221.07. Following the sale, the chief accounting officer now owns 22,666 shares of the company’s stock, valued at approximately $3,129,947.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Amanpal Singh Bhutani sold 4,500 shares of the business’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 $629,055.00. Following the sale, the chief executive officer now owns 365,398 shares of the company’s stock, valued at approximately $51,078,986.42. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Nick Daddario sold 523 shares of the stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $138.09, for a total value of $72,221.07. Following the transaction, the chief accounting officer now owns 22,666 shares of the company’s stock, valued at $3,129,947.94. The disclosure for this sale can be found here. In the last quarter, insiders sold 46,071 shares of company stock worth $6,385,206. 0.61% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On GoDaddy

Several large investors have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD grew its stake in GoDaddy by 94.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,655,994 shares of the technology company’s stock worth $433,895,000 after buying an additional 1,775,708 shares during the last quarter. Norges Bank acquired a new stake in GoDaddy during the 4th quarter valued at $181,687,000. Federated Hermes Inc. raised its position in GoDaddy by 3,402.0% in the 4th 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 last quarter. Los Angeles Capital Management LLC boosted its stake in GoDaddy by 7,379.1% in the fourth quarter. Los Angeles Capital Management LLC now owns 723,752 shares of the technology company’s stock worth $76,834,000 after purchasing an additional 714,075 shares in the last quarter. Finally, Kodai Capital Management LP bought a new stake in shares of GoDaddy during the first quarter worth $75,855,000. 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.