GoDaddy (NYSE:GDDY) Given “Neutral” Rating at Piper Sandler

Piper Sandler reaffirmed their neutral rating on shares of GoDaddy (NYSE:GDDY) in a report issued on Monday, MarketBeat reports. They currently have a $172.00 price objective on the technology company’s stock, up from their prior price objective of $160.00.

Several other equities analysts have also recently issued reports on GDDY. Benchmark boosted their price target on shares of GoDaddy from $170.00 to $186.00 and gave the company a buy rating in a research report on Monday, August 26th. Citigroup upped their price objective on shares of GoDaddy from $150.00 to $165.00 and gave the stock a buy rating in a report on Friday, May 31st. JPMorgan Chase & Co. upped their price objective on shares of GoDaddy from $136.00 to $175.00 and gave the stock an overweight rating in a report on Wednesday, May 29th. Barclays upped their price objective on shares of GoDaddy from $150.00 to $165.00 and gave the stock an overweight rating in a report on Friday, August 2nd. Finally, B. Riley increased their price target on shares of GoDaddy from $143.00 to $170.00 and gave the company a buy rating in a report on Friday, July 12th. Six analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, GoDaddy has a consensus rating of Moderate Buy and an average target price of $165.00.

GoDaddy Stock Performance

Shares of NYSE:GDDY opened at $158.52 on Monday. The company has a market cap of $22.62 billion, a price-to-earnings ratio of 13.17 and a beta of 1.13. The company has a 50-day moving average price of $154.59 and a 200-day moving average price of $139.42. 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 12 month low of $71.15 and a 12 month high of $167.65.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings data on Thursday, August 1st. The technology company reported $1.01 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.06). GoDaddy had a net margin of 41.12% and a negative return on equity of 709.73%. The firm 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 posted $0.63 earnings per share. The business’s revenue was up 7.3% on a year-over-year basis. As a group, equities analysts anticipate that GoDaddy will post 5.06 EPS for the current year.

Insider Transactions at GoDaddy

In other news, CEO Amanpal Singh Bhutani sold 4,500 shares of GoDaddy stock in a transaction on Monday, July 1st. The shares were sold at an average price of $139.79, for a total transaction of $629,055.00. Following the transaction, the chief executive officer now owns 365,398 shares in the company, valued at approximately $51,078,986.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Sigal Zarmi sold 400 shares of GoDaddy stock in a transaction on Friday, August 9th. The shares were sold at an average price of $157.61, for a total transaction of $63,044.00. Following the transaction, the director now owns 4,661 shares in the company, valued at approximately $734,620.21. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Amanpal Singh Bhutani sold 4,500 shares of GoDaddy stock in a transaction on Monday, July 1st. The shares were sold at an average price of $139.79, for a total transaction of $629,055.00. Following the transaction, the chief executive officer now owns 365,398 shares in the company, valued at approximately $51,078,986.42. The disclosure for this sale can be found here. Insiders have sold 31,744 shares of company stock worth $4,816,386 in the last 90 days. 0.61% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Corient Private Wealth LLC increased its holdings in GoDaddy by 70.1% in the 4th quarter. Corient Private Wealth LLC now owns 5,190 shares of the technology company’s stock valued at $551,000 after acquiring an additional 2,138 shares during the last quarter. Quest Partners LLC bought a new stake in GoDaddy in the 4th quarter valued at $196,000. Franklin Resources Inc. increased its holdings in GoDaddy by 58.1% in the 4th quarter. Franklin Resources Inc. now owns 23,605 shares of the technology company’s stock valued at $2,506,000 after acquiring an additional 8,675 shares during the last quarter. US Bancorp DE increased its holdings in GoDaddy by 1.4% in the 4th quarter. US Bancorp DE now owns 35,799 shares of the technology company’s stock valued at $3,800,000 after acquiring an additional 507 shares during the last quarter. Finally, Orion Portfolio Solutions LLC increased its holdings in GoDaddy by 1.3% in the 4th quarter. Orion Portfolio Solutions LLC now owns 20,419 shares of the technology company’s stock valued at $2,082,000 after acquiring an additional 267 shares during the last quarter. Hedge funds and other institutional investors 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.