Analysts Set GoDaddy Inc. (NYSE:GDDY) PT at $181.57

Shares of GoDaddy Inc. (NYSE:GDDY) have earned an average rating of “Moderate Buy” from the fifteen analysts that are presently covering the firm, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation, nine have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $181.57.

GDDY has been the topic of a number of research analyst reports. Royal Bank of Canada reissued an “outperform” rating and issued a $230.00 price target (up from $190.00) on shares of GoDaddy in a report on Wednesday, December 4th. B. Riley boosted their target price 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. Benchmark raised their price target on shares of GoDaddy from $186.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Barclays upped their price objective on GoDaddy from $165.00 to $185.00 and gave the company an “overweight” rating in a research note on Wednesday, September 25th. Finally, Jefferies Financial Group raised their target price on GoDaddy from $170.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th.

GoDaddy Stock Down 1.0 %

GoDaddy stock opened at $206.78 on Wednesday. The company has a debt-to-equity ratio of 10.61, a quick ratio of 0.56 and a current ratio of 0.56. The stock has a market cap of $29.03 billion, a PE ratio of 15.98 and a beta of 1.15. GoDaddy has a fifty-two week low of $99.90 and a fifty-two week high of $210.30. The firm’s 50-day simple moving average is $180.63 and its 200 day simple moving average is $160.59.

GoDaddy (NYSE:GDDY) last announced its earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.07. The firm had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.14 billion. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. The company’s revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.89 EPS. Research analysts predict that GoDaddy will post 4.96 EPS for the current fiscal year.

Insider Activity

In related news, Director Brian Sharples sold 500 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $179.00, for a total value of $89,500.00. Following the transaction, the director now directly owns 24,121 shares in the company, valued at approximately $4,317,659. This represents a 2.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Phontip Palitwanon sold 1,554 shares of GoDaddy stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $203.90, for a total transaction of $316,860.60. Following the sale, the chief accounting officer now owns 21,505 shares of the company’s stock, valued at approximately $4,384,869.50. The trade was a 6.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 22,503 shares of company stock worth $3,950,683. 0.61% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GDDY. Franklin Resources Inc. lifted its stake in GoDaddy by 10.2% during the third quarter. Franklin Resources Inc. now owns 417,902 shares of the technology company’s stock worth $68,565,000 after purchasing an additional 38,511 shares during the last quarter. Tidal Investments LLC lifted its position in GoDaddy by 38.7% in the 3rd quarter. Tidal Investments LLC now owns 18,643 shares of the technology company’s stock worth $2,923,000 after buying an additional 5,205 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in GoDaddy in the third quarter worth approximately $922,000. Anchor Investment Management LLC purchased a new stake in GoDaddy in the third quarter worth approximately $31,000. Finally, Te Ahumairangi Investment Management Ltd grew its position in GoDaddy by 86.8% during the third quarter. Te Ahumairangi Investment Management Ltd now owns 15,012 shares of the technology company’s stock valued at $2,340,000 after acquiring an additional 6,974 shares during the last quarter. 90.28% of the stock is currently owned by hedge funds and other 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.