GoDaddy (NYSE:GDDY) Price Target Raised to $190.00 at B. Riley

GoDaddy (NYSE:GDDY) had its price objective boosted by B. Riley from $170.00 to $190.00 in a report issued on Thursday, Benzinga reports. B. Riley currently has a buy rating on the technology company’s stock. B. Riley also issued estimates for GoDaddy’s Q4 2024 earnings at $1.60 EPS, FY2024 earnings at $5.10 EPS, Q1 2025 earnings at $1.68 EPS, Q2 2025 earnings at $1.75 EPS, Q3 2025 earnings at $1.98 EPS, Q4 2025 earnings at $2.15 EPS, FY2025 earnings at $7.54 EPS, FY2026 earnings at $10.01 EPS, FY2027 earnings at $12.45 EPS and FY2028 earnings at $15.31 EPS.

A number of other brokerages have also recently issued reports on GDDY. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $170.00 target price on shares of GoDaddy in a report on Monday, October 7th. StockNews.com lowered GoDaddy from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 7th. Benchmark raised their price target on GoDaddy from $186.00 to $200.00 and gave the company a “buy” rating in a report on Thursday. Raymond James increased their price objective on shares of GoDaddy from $150.00 to $175.00 and gave the company a “strong-buy” rating in a research report on Friday, August 2nd. Finally, Piper Sandler upped their price target on shares of GoDaddy from $172.00 to $176.00 and gave the company a “neutral” rating in a research note on Thursday. Five equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $170.23.

GoDaddy Stock Down 0.3 %

Shares of NYSE GDDY traded down $0.55 during midday trading on Thursday, reaching $166.25. The company’s stock had a trading volume of 434,373 shares, compared to its average volume of 1,462,555. GoDaddy has a fifty-two week low of $74.12 and a fifty-two week high of $171.93. The stock has a 50 day simple moving average of $159.17 and a 200-day simple moving average of $146.82. The stock has a market capitalization of $23.44 billion, a price-to-earnings ratio of 12.88 and a beta of 1.12. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 24.13.

GoDaddy (NYSE:GDDY) last released its earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.07. The business had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.14 billion. GoDaddy had a net margin of 41.74% and a return on equity of 313.25%. The firm’s revenue was up 7.3% on a year-over-year basis. During the same period last year, the business earned $0.89 earnings per share. Equities research analysts predict that GoDaddy will post 5.07 earnings per share for the current year.

Insider Buying and Selling

In other GoDaddy news, Director Sigal Zarmi sold 400 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $157.61, for a total value of $63,044.00. Following the transaction, the director now directly owns 4,661 shares of the company’s stock, valued at $734,620.21. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Sigal Zarmi sold 400 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $157.61, for a total value of $63,044.00. Following the completion of the transaction, the director now owns 4,661 shares of the company’s stock, valued at approximately $734,620.21. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Roger Chen sold 1,000 shares of the stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $164.16, for a total transaction of $164,160.00. Following the completion of the transaction, the chief operating officer now directly owns 186,632 shares of the company’s stock, valued at approximately $30,637,509.12. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 25,744 shares of company stock worth $4,089,571. Company insiders own 0.61% of the company’s stock.

Institutional Trading of GoDaddy

Several institutional investors have recently added to or reduced their stakes in the stock. Transcendent Capital Group LLC acquired a new stake in shares of GoDaddy in the 2nd quarter valued at about $28,000. ORG Wealth Partners LLC acquired a new position in GoDaddy during the 3rd quarter valued at about $30,000. ORG Partners LLC purchased a new stake in shares of GoDaddy in the second quarter worth approximately $32,000. International Assets Investment Management LLC purchased a new stake in GoDaddy in the 2nd quarter valued at $36,000. Finally, New Covenant Trust Company N.A. bought a new position in shares of GoDaddy during the first quarter valued at about $45,000. 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.