GoDaddy (NYSE:GDDY) Given New $230.00 Price Target at Raymond James

GoDaddy (NYSE:GDDY) had its target price boosted by Raymond James from $185.00 to $230.00 in a report published on Tuesday,Benzinga reports. They currently have a strong-buy rating on the technology company’s stock.

Other equities analysts have also issued reports about the stock. Morgan Stanley boosted their target price on shares of GoDaddy from $189.00 to $227.00 and gave the company an “equal weight” rating in a report on Monday, January 13th. Benchmark boosted their price target on shares of GoDaddy from $186.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. boosted their price target on shares of GoDaddy from $175.00 to $224.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Robert W. Baird boosted their price target on shares of GoDaddy from $200.00 to $225.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. Finally, B. Riley boosted their price target on shares of GoDaddy from $170.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Five analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $198.07.

GoDaddy Stock Performance

GDDY opened at $205.66 on Tuesday. The firm has a market capitalization of $28.87 billion, a PE ratio of 15.89 and a beta of 1.15. GoDaddy has a twelve month low of $106.42 and a twelve month high of $211.11. The firm’s 50-day moving average price is $199.16 and its 200 day moving average price is $171.78. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 10.61.

GoDaddy (NYSE:GDDY) last posted 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 analyst estimates of $1.14 billion. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. GoDaddy’s revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.89 EPS. As a group, sell-side analysts expect that GoDaddy will post 4.96 EPS for the current fiscal year.

Insider Activity

In other news, CFO Mark Mccaffrey sold 480 shares of the firm’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $201.29, for a total value of $96,619.20. Following the sale, the chief financial officer now directly owns 83,254 shares in the company, valued at approximately $16,758,197.66. This trade represents a 0.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $167.79, for a total transaction of $503,370.00. Following the completion of the sale, the chief executive officer now owns 345,956 shares in the company, valued at $58,047,957.24. The trade was a 0.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 24,483 shares of company stock worth $4,759,553. 0.61% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of GDDY. Ashton Thomas Securities LLC purchased a new position in shares of GoDaddy in the 3rd quarter valued at $27,000. ORG Wealth Partners LLC purchased a new position in shares of GoDaddy in the 3rd quarter valued at $30,000. Anchor Investment Management LLC purchased a new position in shares of GoDaddy in the 3rd quarter valued at $31,000. Versant Capital Management Inc purchased a new position in shares of GoDaddy in the 4th quarter valued at $43,000. Finally, Huntington National Bank grew its position in shares of GoDaddy by 298.7% in the 3rd quarter. Huntington National Bank now owns 307 shares of the technology company’s stock valued at $48,000 after buying an additional 230 shares during the last quarter. 90.28% of the stock is owned by hedge funds and other institutional investors.

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.