Raymond James Raises GoDaddy (NYSE:GDDY) Price Target to $175.00

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

A number of other equities analysts have also recently issued reports on the company. Robert W. Baird increased their target price on GoDaddy from $175.00 to $190.00 and gave the stock an outperform rating in a report on Friday. Citigroup boosted their target price on shares of GoDaddy from $150.00 to $165.00 and gave the stock a buy rating in a research report on Friday, May 31st. Morgan Stanley raised their price target on shares of GoDaddy from $132.00 to $137.00 and gave the company an equal weight rating in a research report on Friday, May 3rd. William Blair reissued an outperform rating on shares of GoDaddy in a report on Friday, May 3rd. Finally, JPMorgan Chase & Co. raised their target price on GoDaddy from $136.00 to $175.00 and gave the company an overweight rating in a report on Wednesday, May 29th. Four equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, GoDaddy currently has a consensus rating of Moderate Buy and an average price target of $161.25.

GoDaddy Trading Down 2.3 %

Shares of NYSE:GDDY traded down $3.47 during mid-day trading on Friday, hitting $147.78. The company had a trading volume of 586,398 shares, compared to its average volume of 1,620,744. The company has a debt-to-equity ratio of 9.15, a current ratio of 0.55 and a quick ratio of 0.55. GoDaddy has a one year low of $69.18 and a one year high of $152.09. The firm has a fifty day moving average price of $141.77 and a 200 day moving average price of $127.32. The company has a market capitalization of $21.09 billion, a PE ratio of 12.28 and a beta of 1.14.

GoDaddy (NYSE:GDDY) last released its quarterly earnings data on Thursday, August 1st. The technology company reported $1.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.06). GoDaddy had a negative return on equity of 363.95% and a net margin of 41.12%. The company had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same period last year, the company earned $0.63 EPS. GoDaddy’s revenue for the quarter was up 7.3% compared to the same quarter last year. As a group, research analysts forecast that GoDaddy will post 4.81 EPS for the current year.

Insider Activity at GoDaddy

In other news, Director Leah Sweet sold 1,000 shares of the company’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $141.59, for a total transaction of $141,590.00. Following the transaction, the director now owns 11,317 shares of the company’s stock, valued at approximately $1,602,374.03. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Leah Sweet sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $141.59, for a total value of $141,590.00. Following the sale, the director now owns 11,317 shares of the company’s stock, valued at $1,602,374.03. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Mark Mccaffrey sold 4,058 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $133.69, for a total transaction of $542,514.02. Following the sale, the chief financial officer now owns 112,473 shares in the company, valued at $15,036,515.37. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 46,071 shares of company stock worth $6,385,206. Insiders own 0.61% of the company’s stock.

Institutional Trading of GoDaddy

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Fifth Third Bancorp lifted its holdings in shares of GoDaddy by 27.4% in the fourth quarter. Fifth Third Bancorp now owns 730 shares of the technology company’s stock worth $77,000 after buying an additional 157 shares in the last quarter. UMB Bank n.a. bought a new position in GoDaddy in the 4th quarter valued at $50,000. International Assets Investment Management LLC purchased a new position in shares of GoDaddy during the 4th quarter valued at $1,972,000. New York State Teachers Retirement System increased its holdings in shares of GoDaddy by 31.9% in the fourth quarter. New York State Teachers Retirement System now owns 104,994 shares of the technology company’s stock worth $11,146,000 after purchasing an additional 25,382 shares during the period. Finally, DekaBank Deutsche Girozentrale raised its position in shares of GoDaddy by 11.3% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 18,164 shares of the technology company’s stock worth $1,906,000 after buying an additional 1,838 shares in the last quarter. 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.