GoDaddy (NYSE:GDDY) PT Raised to $185.00 at Barclays

GoDaddy (NYSE:GDDY) had its target price lifted by Barclays from $165.00 to $185.00 in a report released on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the technology company’s stock. Barclays‘s target price would indicate a potential upside of 16.65% from the company’s current price.

Other equities research analysts also recently issued reports about the company. Cantor Fitzgerald reiterated a “neutral” rating and issued a $170.00 target price on shares of GoDaddy in a research report on Monday. Raymond James boosted their target price 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 upped their price objective on GoDaddy from $170.00 to $186.00 and gave the company a “buy” rating in a research report on Monday, August 26th. Robert W. Baird upped their price objective on GoDaddy from $175.00 to $190.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Finally, StockNews.com downgraded GoDaddy from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 7th. Six research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $166.54.

GoDaddy Stock Performance

Shares of GDDY traded up $0.83 during trading hours on Wednesday, hitting $158.60. The stock had a trading volume of 173,087 shares, compared to its average volume of 1,541,023. 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 has a 12 month low of $71.15 and a 12 month high of $167.65. The firm has a market capitalization of $22.36 billion, a PE ratio of 13.17 and a beta of 1.13. The stock has a fifty day moving average price of $154.79 and a 200 day moving average price of $139.74.

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

Insider Buying and Selling

In other GoDaddy news, CEO Amanpal Singh Bhutani sold 4,500 shares of GoDaddy stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $139.79, for a total transaction of $629,055.00. Following the completion of the transaction, the chief executive officer now owns 365,398 shares in the company, valued at approximately $51,078,986.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, COO Roger Chen sold 1,000 shares of GoDaddy stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $152.17, for a total value of $152,170.00. Following the completion of the transaction, the chief operating officer now owns 187,632 shares in the company, valued at approximately $28,551,961.44. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Amanpal Singh Bhutani sold 4,500 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $139.79, for a total value of $629,055.00. Following the sale, the chief executive officer now owns 365,398 shares of the company’s stock, valued at $51,078,986.42. The disclosure for this sale can be found here. Insiders sold 31,744 shares of company stock worth $4,816,386 in the last 90 days. Insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On GoDaddy

Large investors have recently bought and sold shares of the company. Plato Investment Management Ltd grew its position in shares of GoDaddy by 2,471.0% in the first quarter. Plato Investment Management Ltd now owns 6,479 shares of the technology company’s stock valued at $769,000 after purchasing an additional 6,227 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its holdings in GoDaddy by 20.0% in the first quarter. CANADA LIFE ASSURANCE Co now owns 214,514 shares of the technology company’s stock valued at $25,469,000 after acquiring an additional 35,703 shares during the last quarter. Forsta AP Fonden lifted its holdings in GoDaddy by 87.5% in the first quarter. Forsta AP Fonden now owns 84,000 shares of the technology company’s stock valued at $9,969,000 after acquiring an additional 39,200 shares during the last quarter. Swedbank AB lifted its holdings in GoDaddy by 3.5% in the second quarter. Swedbank AB now owns 153,353 shares of the technology company’s stock valued at $21,425,000 after acquiring an additional 5,247 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in GoDaddy by 866.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 10,335 shares of the technology company’s stock valued at $1,227,000 after acquiring an additional 9,266 shares during the last quarter. 90.28% of the stock is currently 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.