Royal Bank of Canada Issues Positive Forecast for GoDaddy (NYSE:GDDY) Stock Price

GoDaddy (NYSE:GDDY) had its target price hoisted by Royal Bank of Canada from $175.00 to $190.00 in a research report report published on Friday morning, Benzinga reports. They currently have an outperform rating on the technology company’s stock.

Several other brokerages have also issued reports on GDDY. Piper Sandler boosted their price target on shares of GoDaddy from $172.00 to $176.00 and gave the company a “neutral” rating in a report on Thursday. StockNews.com raised shares of GoDaddy from a “buy” rating to a “strong-buy” rating in a research report on Thursday. Robert W. Baird boosted their price objective on shares of GoDaddy from $190.00 to $200.00 and gave the company an “outperform” rating in a research report on Thursday. Barclays boosted their price objective on shares of GoDaddy from $165.00 to $185.00 and gave the company an “overweight” rating in a research report on Wednesday, September 25th. Finally, Raymond James boosted 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. Five research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $171.38.

GoDaddy Trading Down 2.1 %

GDDY traded down $3.44 during trading on Friday, reaching $163.36. 1,545,938 shares of the company’s stock were exchanged, compared to its average volume of 1,468,071. The company’s fifty day moving average price is $159.18 and its 200-day moving average price is $147.11. The company has a debt-to-equity ratio of 24.13, a quick ratio of 0.48 and a current ratio of 0.48. GoDaddy has a fifty-two week low of $74.12 and a fifty-two week high of $171.93. The firm has a market capitalization of $23.03 billion, a PE ratio of 12.63 and a beta of 1.12.

GoDaddy (NYSE:GDDY) last released its earnings results on Wednesday, October 30th. The technology company reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.07. GoDaddy had a net margin of 41.74% and a return on equity of 313.25%. The firm had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the previous year, the business earned $0.89 EPS. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. As a group, equities analysts forecast that GoDaddy will post 5.07 EPS for the current year.

Insider Transactions at GoDaddy

In other news, CAO Nick Daddario sold 2,976 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $151.61, for a total transaction of $451,191.36. Following the transaction, the chief accounting officer now directly owns 14,728 shares of the company’s stock, valued at approximately $2,232,912.08. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CAO Nick Daddario sold 2,976 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $151.61, for a total transaction of $451,191.36. Following the transaction, the chief accounting officer now directly owns 14,728 shares of the company’s stock, valued at approximately $2,232,912.08. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Sigal Zarmi sold 400 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $157.61, for a total transaction of $63,044.00. Following the transaction, the director now directly owns 4,661 shares in the company, valued at $734,620.21. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 25,744 shares of company stock valued at $4,089,571. 0.61% of the stock is currently owned by company insiders.

Institutional Trading of GoDaddy

Hedge funds have recently added to or reduced their stakes in the stock. ORG Wealth Partners LLC acquired a new stake in GoDaddy in the third quarter valued at approximately $30,000. Transcendent Capital Group LLC acquired a new position in shares of GoDaddy during the second quarter worth $28,000. ORG Partners LLC acquired a new position in shares of GoDaddy during the second quarter worth $32,000. International Assets Investment Management LLC acquired a new position in shares of GoDaddy during the second quarter worth $36,000. Finally, Carolina Wealth Advisors LLC acquired a new position in shares of GoDaddy during the third quarter worth $49,000. Institutional investors and hedge funds own 90.28% of the company’s stock.

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.