GoDaddy (NYSE:GDDY) Price Target Raised to $200.00 at Robert W. Baird

GoDaddy (NYSE:GDDY) had its price objective boosted by Robert W. Baird from $190.00 to $200.00 in a research note published on Thursday, Benzinga reports. The firm currently has an outperform rating on the technology company’s stock.

GDDY has been the subject of a number of other research reports. Cantor Fitzgerald reiterated a “neutral” rating and issued a $170.00 price objective on shares of GoDaddy in a report on Monday, October 7th. Piper Sandler reaffirmed a “neutral” rating and set a $172.00 price target (up previously from $160.00) on shares of GoDaddy in a research note on Monday, September 23rd. Barclays boosted their price objective on shares of GoDaddy from $165.00 to $185.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 25th. Royal Bank of Canada raised their target price on GoDaddy from $145.00 to $175.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. Finally, StockNews.com lowered GoDaddy from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 7th. Five analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, GoDaddy presently has an average rating of “Moderate Buy” and an average price target of $170.23.

GoDaddy Price Performance

GoDaddy stock traded down $0.55 during mid-day trading on Thursday, reaching $166.25. The company had a trading volume of 434,373 shares, compared to its average volume of 1,462,555. The business has a fifty day simple moving average of $159.17 and a 200 day simple moving average of $146.82. The company has a market cap of $23.44 billion, a P/E 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 has a fifty-two week low of $74.12 and a fifty-two week high of $171.93.

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

Insiders Place Their Bets

In other news, COO Roger Chen sold 1,000 shares of GoDaddy stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $164.16, for a total value of $164,160.00. Following the completion of the sale, the chief operating officer now owns 186,632 shares in the company, valued at $30,637,509.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director Sigal Zarmi sold 400 shares of the company’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 of the company’s stock, valued at $734,620.21. This 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 is available through this link. Also, COO Roger Chen sold 1,000 shares of GoDaddy stock in a transaction 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 sale, 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. In the last three months, insiders have sold 25,744 shares of company stock worth $4,089,571. Corporate insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of GDDY. ORG Wealth Partners LLC bought a new stake in shares of GoDaddy during the third quarter worth about $30,000. Transcendent Capital Group LLC bought a new stake in GoDaddy during the 2nd quarter worth approximately $28,000. ORG Partners LLC purchased a new stake in shares of GoDaddy in the second quarter worth approximately $32,000. International Assets Investment Management LLC bought a new position in shares of GoDaddy in the second quarter valued at approximately $36,000. Finally, Carolina Wealth Advisors LLC purchased a new position in shares of GoDaddy during the third quarter valued at approximately $49,000. 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.