GoDaddy (NYSE:GDDY) Price Target Raised to $251.00 at Citigroup

GoDaddy (NYSE:GDDY) had its price target increased by stock analysts at Citigroup from $240.00 to $251.00 in a report issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Citigroup’s price objective would suggest a potential upside of 26.19% from the company’s current price.

GDDY has been the subject of a number of other research reports. Cantor Fitzgerald reissued a “neutral” rating and set a $170.00 target price on shares of GoDaddy in a research note on Monday, October 7th. Jefferies Financial Group lifted their price objective on GoDaddy from $170.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Benchmark upped their target price on GoDaddy from $186.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. StockNews.com lowered GoDaddy from a “strong-buy” rating to a “buy” rating in a report on Friday, November 8th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $230.00 price target (up previously from $190.00) on shares of GoDaddy in a research note on Wednesday, December 4th. Five investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, GoDaddy has an average rating of “Moderate Buy” and an average price target of $187.71.

GoDaddy Stock Performance

Shares of GDDY stock opened at $198.91 on Friday. The company has a market capitalization of $27.93 billion, a price-to-earnings ratio of 15.37 and a beta of 1.15. GoDaddy has a 1-year low of $99.90 and a 1-year high of $211.11. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 10.61. The stock’s fifty day simple moving average is $192.10 and its 200-day simple moving average is $166.52.

GoDaddy (NYSE:GDDY) last released its earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.07. The company 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 business’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.89 EPS. On average, sell-side analysts predict that GoDaddy will post 4.96 earnings per share for the current fiscal year.

Insider Buying and Selling

In other GoDaddy news, CAO Phontip Palitwanon sold 1,554 shares of GoDaddy stock in a transaction on Monday, December 9th. The shares were sold at an average price of $203.90, for a total transaction of $316,860.60. Following the sale, the chief accounting officer now owns 21,505 shares in the company, valued at $4,384,869.50. The trade was a 6.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Roger Chen sold 1,000 shares of the 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 transaction, the chief operating officer now owns 186,632 shares of the company’s stock, valued at approximately $30,637,509.12. This represents a 0.53 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 15,003 shares of company stock valued at $2,835,433. 0.61% of the stock is owned by company insiders.

Institutional Trading of GoDaddy

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Ashton Thomas Securities LLC acquired a new stake in GoDaddy during the third quarter valued at approximately $27,000. ORG Wealth Partners LLC acquired a new stake in GoDaddy in the 3rd quarter valued at $30,000. Anchor Investment Management LLC bought a new stake in GoDaddy in the third quarter valued at $31,000. International Assets Investment Management LLC bought a new position in shares of GoDaddy during the second quarter valued at $36,000. Finally, Versant Capital Management Inc acquired a new stake in shares of GoDaddy in the 4th quarter valued at $43,000. Institutional investors 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.