GoDaddy Inc. (NYSE:GDDY) Receives $187.71 Consensus Target Price from Brokerages

Shares of GoDaddy Inc. (NYSE:GDDY) have earned a consensus rating of “Moderate Buy” from the fifteen brokerages that are covering the firm, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $187.71.

GDDY has been the topic of several recent research reports. B. Riley raised their price target on shares of GoDaddy from $170.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Piper Sandler lifted their target price on GoDaddy from $172.00 to $176.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Barclays increased their price target on GoDaddy from $165.00 to $185.00 and gave the company an “overweight” rating in a research report on Wednesday, September 25th. StockNews.com downgraded shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a report on Friday, November 8th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $170.00 target price on shares of GoDaddy in a report on Monday, October 7th.

GoDaddy Trading Down 1.9 %

Shares of GoDaddy stock opened at $195.58 on Friday. The stock has a market capitalization of $27.46 billion, a PE ratio of 15.11 and a beta of 1.15. GoDaddy has a 52 week low of $100.43 and a 52 week high of $211.11. The stock has a 50 day moving average price of $193.67 and a two-hundred day moving average price of $167.80. The company has a debt-to-equity ratio of 10.61, a quick ratio of 0.56 and a current ratio of 0.56.

GoDaddy (NYSE:GDDY) last announced its quarterly 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 business had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.14 billion. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. GoDaddy’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.89 EPS. As a group, equities analysts anticipate that GoDaddy will post 4.96 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Mark Mccaffrey sold 5,500 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $199.01, for a total transaction of $1,094,555.00. Following the completion of the transaction, the chief financial officer now owns 84,300 shares of the company’s stock, valued at approximately $16,776,543. The trade was a 6.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $199.01, for a total transaction of $597,030.00. Following the completion of the transaction, the chief executive officer now directly owns 333,153 shares in the company, valued at $66,300,778.53. The trade was a 0.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,003 shares of company stock valued at $4,626,523 over the last ninety days. 0.61% of the stock is currently owned by insiders.

Institutional Investors Weigh In On GoDaddy

Several hedge funds have recently added to or reduced their stakes in the company. State Street Corp boosted its position in GoDaddy by 2.2% during the third quarter. State Street Corp now owns 6,892,134 shares of the technology company’s stock valued at $1,080,549,000 after buying an additional 147,105 shares during the period. Geode Capital Management LLC boosted its holdings in GoDaddy by 2.5% during the 3rd quarter. Geode Capital Management LLC now owns 3,423,622 shares of the technology company’s stock valued at $535,153,000 after acquiring an additional 84,550 shares during the period. FMR LLC grew its position in GoDaddy by 19.8% during the 3rd quarter. FMR LLC now owns 1,660,283 shares of the technology company’s stock worth $260,299,000 after acquiring an additional 274,014 shares during the last quarter. Federated Hermes Inc. increased its stake in GoDaddy by 35.6% in the 2nd quarter. Federated Hermes Inc. now owns 1,501,277 shares of the technology company’s stock worth $209,743,000 after purchasing an additional 394,399 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in GoDaddy by 17.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,368,693 shares of the technology company’s stock valued at $214,584,000 after purchasing an additional 203,909 shares during the last quarter. 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.