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

Shares of GoDaddy Inc. (NYSE:GDDY) have been assigned an average rating of “Moderate Buy” from the fifteen ratings firms that are currently covering the company, Marketbeat Ratings reports. Six analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $166.54.

GDDY has been the subject of several recent research reports. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $170.00 price objective on shares of GoDaddy in a research report on Monday, September 23rd. Raymond James upped their price target on GoDaddy from $150.00 to $175.00 and gave the stock a “strong-buy” rating in a research report on Friday, August 2nd. Benchmark lifted their price objective on shares of GoDaddy from $170.00 to $186.00 and gave the company a “buy” rating in a report on Monday, August 26th. Robert W. Baird boosted their price objective on shares of GoDaddy from $175.00 to $190.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Finally, Royal Bank of Canada raised their target price on shares of GoDaddy from $145.00 to $175.00 and gave the company an “outperform” rating in a research report on Monday, August 5th.

GoDaddy Stock Up 0.2 %

Shares of GoDaddy stock opened at $156.00 on Friday. GoDaddy has a 1 year low of $71.15 and a 1 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. The company has a market capitalization of $22.26 billion, a P/E ratio of 12.96 and a beta of 1.13. The business has a 50-day moving average of $155.52 and a two-hundred day moving average of $140.43.

GoDaddy (NYSE:GDDY) last announced its earnings results on Thursday, August 1st. The technology company reported $1.01 EPS 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 company had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same quarter last year, the business posted $0.63 earnings per share. The business’s quarterly revenue was up 7.3% on a year-over-year basis. As a group, equities analysts predict that GoDaddy will post 5.06 EPS for the current year.

Insider Buying and Selling at GoDaddy

In other GoDaddy news, CFO Mark Mccaffrey sold 5,500 shares of the firm’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $164.75, for a total transaction of $906,125.00. Following the completion of the sale, the chief financial officer now owns 101,286 shares of the company’s stock, valued at approximately $16,686,868.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Mark Mccaffrey sold 5,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $164.75, for a total transaction of $906,125.00. Following the completion of the sale, the chief financial officer now owns 101,286 shares in the company, valued at $16,686,868.50. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 362,398 shares in the company, valued at approximately $53,084,059.04. The disclosure for this sale can be found here. Insiders have sold 23,244 shares of company stock worth $3,628,171 over the last 90 days. Company insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On GoDaddy

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its position in GoDaddy by 2.6% during the first quarter. Vanguard Group Inc. now owns 14,733,764 shares of the technology company’s stock worth $1,748,603,000 after acquiring an additional 379,228 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of GoDaddy by 94.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,655,994 shares of the technology company’s stock worth $433,895,000 after purchasing an additional 1,775,708 shares during the period. Federated Hermes Inc. raised its position in shares of GoDaddy by 35.6% in the second quarter. Federated Hermes Inc. now owns 1,501,277 shares of the technology company’s stock valued at $209,743,000 after buying an additional 394,399 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of GoDaddy by 13.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 905,858 shares of the technology company’s stock valued at $96,166,000 after buying an additional 110,076 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of GoDaddy by 37.7% in the second quarter. Dimensional Fund Advisors LP now owns 861,066 shares of the technology company’s stock valued at $120,305,000 after buying an additional 235,934 shares during the period. Institutional investors and hedge funds 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.