Brokerages Set GoDaddy Inc. (NYSE:GDDY) Target Price at $213.20

GoDaddy Inc. (NYSE:GDDY) has earned an average recommendation of “Moderate Buy” from the sixteen analysts that are covering the company, Marketbeat reports. Six investment analysts have rated the stock with a hold recommendation, nine have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $213.20.

A number of analysts recently issued reports on GDDY shares. UBS Group lifted their target price on GoDaddy from $172.00 to $225.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. Benchmark increased their price objective on GoDaddy from $200.00 to $230.00 and gave the company a “buy” rating in a report on Thursday, February 13th. B. Riley boosted their target price on shares of GoDaddy from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Jefferies Financial Group increased their price target on shares of GoDaddy from $170.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $230.00 price objective (up from $190.00) on shares of GoDaddy in a research note on Wednesday, December 4th.

Insider Activity

In other news, CFO Mark Mccaffrey sold 5,500 shares of the business’s stock in a transaction on 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Roger Chen sold 1,000 shares of the firm’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $174.21, for a total value of $174,210.00. Following the completion of the sale, the chief operating officer now directly owns 257,949 shares in the company, valued at $44,937,295.29. This trade represents a 0.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 19,480 shares of company stock worth $3,816,029. 0.61% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On GoDaddy

Several hedge funds have recently modified their holdings of GDDY. Anchor Investment Management LLC acquired a new stake in GoDaddy during the 3rd quarter valued at approximately $31,000. Versant Capital Management Inc bought a new stake in GoDaddy in the 4th quarter valued at about $43,000. Rakuten Securities Inc. lifted its holdings in shares of GoDaddy by 311.3% in the 4th quarter. Rakuten Securities Inc. now owns 218 shares of the technology company’s stock worth $43,000 after purchasing an additional 165 shares in the last quarter. Friedenthal Financial bought a new position in shares of GoDaddy in the fourth quarter valued at $49,000. Finally, OFI Invest Asset Management acquired a new position in GoDaddy during the 4th quarter valued at about $52,000. Institutional investors and hedge funds own 90.28% of the company’s stock.

GoDaddy Stock Down 0.1 %

NYSE:GDDY opened at $180.49 on Friday. The stock has a 50-day simple moving average of $191.37 and a 200 day simple moving average of $183.32. GoDaddy has a 52-week low of $118.39 and a 52-week high of $216.00. The company has a market cap of $25.51 billion, a PE ratio of 27.98 and a beta of 1.25. The company has a debt-to-equity ratio of 5.46, a quick ratio of 0.56 and a current ratio of 0.72.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings results on Thursday, February 13th. The technology company reported $1.42 earnings per share for the quarter, missing the consensus estimate of $1.43 by ($0.01). The business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.18 billion. GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. On average, sell-side analysts expect that GoDaddy will post 6.63 EPS for the current fiscal year.

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.