Robert W. Baird Increases GoDaddy (NYSE:GDDY) Price Target to $225.00

GoDaddy (NYSE:GDDY) had its price objective upped by Robert W. Baird from $200.00 to $225.00 in a research note published on Tuesday morning,Benzinga reports. Robert W. Baird currently has an outperform rating on the technology company’s stock.

Several other analysts have also issued reports on the company. Raymond James increased their price objective on GoDaddy from $150.00 to $175.00 and gave the stock a “strong-buy” rating in a report on Friday, August 2nd. Royal Bank of Canada boosted their price target on GoDaddy from $175.00 to $190.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Barclays increased their price target on GoDaddy from $165.00 to $185.00 and gave the company an “overweight” rating in a report on Wednesday, September 25th. StockNews.com lowered shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 8th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $170.00 price target on shares of GoDaddy in a research report on Monday, October 7th. Five research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $173.31.

GoDaddy Stock Performance

NYSE:GDDY opened at $187.46 on Tuesday. GoDaddy has a twelve month low of $91.86 and a twelve month high of $190.21. The company has a 50-day moving average of $163.41 and a 200-day moving average of $151.84. The firm has a market cap of $26.32 billion, a price-to-earnings ratio of 14.49 and a beta of 1.11. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 10.61.

GoDaddy (NYSE:GDDY) last released its quarterly earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.07. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. The business had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the previous year, the business earned $0.89 earnings per share. The firm’s revenue was up 7.3% compared to the same quarter last year. Analysts forecast that GoDaddy will post 4.95 earnings per share for the current fiscal year.

Insider Transactions at GoDaddy

In other GoDaddy news, COO Roger Chen sold 1,000 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $183.80, for a total transaction of $183,800.00. Following the sale, the chief operating officer now owns 185,632 shares of the company’s stock, valued at $34,119,161.60. This represents a 0.54 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Brian Sharples sold 500 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $179.00, for a total transaction of $89,500.00. Following the completion of the sale, the director now directly owns 24,121 shares of the company’s stock, valued at approximately $4,317,659. This represents a 2.03 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 29,845 shares of company stock valued at $4,803,380. 0.61% of the stock is owned by insiders.

Institutional Investors Weigh In On GoDaddy

Institutional investors and hedge funds have recently modified their holdings of the business. Principal Financial Group Inc. lifted its stake in GoDaddy by 3.4% in the third quarter. Principal Financial Group Inc. now owns 198,058 shares of the technology company’s stock valued at $31,052,000 after buying an additional 6,424 shares during the period. Highland Capital Management LLC acquired a new stake in GoDaddy during the 3rd quarter worth $1,132,000. Plato Investment Management Ltd lifted its holdings in GoDaddy by 2,471.0% during the first quarter. Plato Investment Management Ltd now owns 6,479 shares of the technology company’s stock worth $769,000 after acquiring an additional 6,227 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its stake in GoDaddy by 20.0% in the first quarter. CANADA LIFE ASSURANCE Co now owns 214,514 shares of the technology company’s stock valued at $25,469,000 after acquiring an additional 35,703 shares during the period. Finally, Swedbank AB increased its stake in GoDaddy by 3.5% during the 2nd quarter. Swedbank AB now owns 153,353 shares of the technology company’s stock worth $21,425,000 after purchasing an additional 5,247 shares in the last quarter. 90.28% of the stock is 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.