Analysts Set GoDaddy Inc. (NYSE:GDDY) Price Target at $166.54

GoDaddy Inc. (NYSE:GDDY) has earned an average rating of “Moderate Buy” from the fifteen ratings firms that are covering the company, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $166.54.

A number of research firms have recently weighed in on GDDY. Cantor Fitzgerald restated a “neutral” rating and issued a $170.00 price target on shares of GoDaddy in a research note on Monday, September 23rd. B. Riley increased their price objective on shares of GoDaddy from $143.00 to $170.00 and gave the company a “buy” rating in a research note on Friday, July 12th. Benchmark boosted their target price on shares of GoDaddy from $170.00 to $186.00 and gave the stock a “buy” rating in a research note on Monday, August 26th. Royal Bank of Canada increased their price target on GoDaddy from $145.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Finally, Piper Sandler reissued a “neutral” rating and set a $172.00 price objective (up previously from $160.00) on shares of GoDaddy in a report on Monday, September 23rd.

GoDaddy Stock Up 0.2 %

Shares of GDDY opened at $156.00 on Friday. The firm has a 50 day simple moving average of $155.52 and a two-hundred day simple moving average of $140.43. The company has a market cap of $22.26 billion, a P/E ratio of 12.96 and a beta of 1.13. GoDaddy has a one year low of $71.15 and a one year high of $167.65. The company has a debt-to-equity ratio of 24.13, a current ratio of 0.48 and a quick ratio of 0.48.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings data on Thursday, August 1st. The technology company reported $1.01 earnings per share for the quarter, missing the consensus estimate of $1.07 by ($0.06). GoDaddy had a negative return on equity of 709.73% and a net margin of 41.12%. The business had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter in the prior year, the company earned $0.63 earnings per share. GoDaddy’s quarterly revenue was up 7.3% compared to the same quarter last year. Research analysts forecast that GoDaddy will post 5.06 EPS for the current fiscal year.

Insider Activity

In related news, CEO Amanpal Singh Bhutani sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $146.48, for a total value of $439,440.00. Following the sale, the chief executive officer now directly owns 362,398 shares in the company, valued at $53,084,059.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Amanpal Singh Bhutani sold 3,000 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $146.48, for a total value of $439,440.00. Following the transaction, the chief executive officer now owns 362,398 shares in the company, valued at $53,084,059.04. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Sigal Zarmi sold 400 shares of the company’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $157.61, for a total transaction of $63,044.00. Following the sale, the director now directly owns 4,661 shares in the company, valued at approximately $734,620.21. The disclosure for this sale can be found here. Over the last quarter, insiders sold 23,244 shares of company stock valued at $3,628,171. Company insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On GoDaddy

Hedge funds have recently added to or reduced their stakes in the business. V Square Quantitative Management LLC bought a new stake in GoDaddy in the fourth quarter valued at $28,000. Transcendent Capital Group LLC acquired a new position in GoDaddy during the 2nd quarter worth approximately $28,000. GAMMA Investing LLC raised its stake in GoDaddy by 102.3% during the 1st quarter. GAMMA Investing LLC now owns 263 shares of the technology company’s stock worth $31,000 after buying an additional 133 shares during the period. ORG Partners LLC bought a new position in GoDaddy in the second quarter worth approximately $32,000. Finally, International Assets Investment Management LLC acquired a new stake in GoDaddy in the second quarter valued at approximately $36,000. 90.28% of the stock is currently owned by institutional investors.

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.