Brokerages Set GoDaddy Inc. (NYSE:GDDY) Target Price at $181.57

Shares of GoDaddy Inc. (NYSE:GDDY) have been given a consensus recommendation of “Moderate Buy” by the fifteen research firms that are covering the firm, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $181.57.

A number of brokerages have recently issued reports on GDDY. B. Riley increased their target price on GoDaddy from $170.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Barclays upped their price target on shares of GoDaddy from $165.00 to $185.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 25th. Royal Bank of Canada reiterated an “outperform” rating and issued a $230.00 price objective (up from $190.00) on shares of GoDaddy in a report on Wednesday, December 4th. Cantor Fitzgerald restated a “neutral” rating and issued a $170.00 target price on shares of GoDaddy in a research report on Monday, October 7th. Finally, Benchmark boosted their price target on GoDaddy from $186.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st.

Insider Buying and Selling at GoDaddy

In related news, CAO Phontip Palitwanon sold 1,554 shares of GoDaddy stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $203.90, for a total value of $316,860.60. Following the completion of the sale, the chief accounting officer now owns 21,505 shares in the company, valued at approximately $4,384,869.50. This trade represents a 6.74 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $197.77, for a total value of $593,310.00. Following the transaction, the chief executive officer now owns 342,956 shares in the company, valued at $67,826,408.12. This trade represents a 0.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 23,503 shares of company stock worth $4,102,853 over the last quarter. 0.61% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Principal Financial Group Inc. boosted its position in GoDaddy by 3.4% in the 3rd 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 purchased a new stake in GoDaddy during the 3rd quarter worth about $1,132,000. Swedbank AB boosted its stake in shares of GoDaddy by 3.5% in the 2nd quarter. Swedbank AB now owns 153,353 shares of the technology company’s stock valued at $21,425,000 after buying an additional 5,247 shares during the period. Crossmark Global Holdings Inc. grew its position in shares of GoDaddy by 28.0% during the third quarter. Crossmark Global Holdings Inc. now owns 44,054 shares of the technology company’s stock worth $6,907,000 after buying an additional 9,631 shares in the last quarter. Finally, Dai ichi Life Insurance Company Ltd increased its stake in shares of GoDaddy by 39.6% during the third quarter. Dai ichi Life Insurance Company Ltd now owns 60,022 shares of the technology company’s stock worth $9,410,000 after buying an additional 17,021 shares during the period. Hedge funds and other institutional investors own 90.28% of the company’s stock.

GoDaddy Stock Performance

GDDY opened at $206.73 on Wednesday. The stock has a market cap of $29.02 billion, a P/E ratio of 15.98 and a beta of 1.15. 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 firm has a fifty day moving average price of $180.63 and a 200 day moving average price of $160.28. GoDaddy has a 1 year low of $99.90 and a 1 year high of $210.30.

GoDaddy (NYSE:GDDY) last posted its earnings results on Wednesday, October 30th. The technology company reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.07. The firm had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.14 billion. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. The company’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period last year, the firm earned $0.89 EPS. Equities research analysts anticipate that GoDaddy will post 4.96 earnings per share for the current year.

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.