GoDaddy (NYSE:GDDY) Price Target Raised to $243.00 at Barclays

GoDaddy (NYSE:GDDY) had its price objective upped by Barclays from $235.00 to $243.00 in a research note released on Friday morning,Benzinga reports. The firm currently has an overweight rating on the technology company’s stock.

Several other research firms have also recently commented on GDDY. Raymond James upped their price target on GoDaddy from $185.00 to $230.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, January 21st. B. Riley increased their price objective on GoDaddy from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Robert W. Baird increased their price objective on GoDaddy from $200.00 to $225.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. Wells Fargo & Company assumed coverage on GoDaddy in a research report on Monday, February 3rd. They issued an “equal weight” rating and a $198.00 price objective for the company. Finally, StockNews.com cut GoDaddy from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 8th. Six research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $213.20.

GoDaddy Price Performance

GoDaddy stock opened at $182.58 on Friday. GoDaddy has a 12 month low of $108.02 and a 12 month high of $216.00. The company has a debt-to-equity ratio of 10.61, a current ratio of 0.56 and a quick ratio of 0.56. The business has a 50 day simple moving average of $204.20 and a 200-day simple moving average of $179.81. The stock has a market capitalization of $25.63 billion, a PE ratio of 14.11 and a beta of 1.15.

GoDaddy (NYSE:GDDY) last released its quarterly earnings results on Thursday, February 13th. The technology company reported $1.42 EPS for the quarter, missing the consensus estimate of $1.43 by ($0.01). GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. Equities analysts predict that GoDaddy will post 4.96 earnings per share for the current year.

Insider Buying and Selling at GoDaddy

In related news, CAO Phontip Palitwanon sold 770 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $196.64, for a total transaction of $151,412.80. Following the sale, the chief accounting officer now owns 23,059 shares of the company’s stock, valued at $4,534,321.76. This trade represents a 3.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $207.70, for a total value of $623,100.00. Following the sale, the chief executive officer now directly owns 330,153 shares in the company, valued at approximately $68,572,778.10. The trade was a 0.90 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,482 shares of company stock valued at $4,709,650. Insiders own 0.61% of the company’s stock.

Institutional Trading of GoDaddy

Large investors have recently made changes to their positions in the stock. Quent Capital LLC boosted its stake in GoDaddy by 4.4% in the 4th quarter. Quent Capital LLC now owns 1,259 shares of the technology company’s stock worth $248,000 after buying an additional 53 shares during the last quarter. Advisors Capital Management LLC boosted its stake in GoDaddy by 0.9% in the 4th quarter. Advisors Capital Management LLC now owns 6,197 shares of the technology company’s stock worth $1,223,000 after buying an additional 55 shares during the last quarter. Lake Street Advisors Group LLC boosted its stake in GoDaddy by 4.7% in the 4th quarter. Lake Street Advisors Group LLC now owns 1,433 shares of the technology company’s stock worth $283,000 after buying an additional 64 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in GoDaddy by 0.4% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 18,097 shares of the technology company’s stock worth $2,837,000 after buying an additional 67 shares during the last quarter. Finally, New York Life Investment Management LLC boosted its stake in GoDaddy by 0.4% in the 4th quarter. New York Life Investment Management LLC now owns 18,785 shares of the technology company’s stock worth $3,708,000 after buying an additional 71 shares during the last quarter. Institutional investors and hedge funds 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.