GoDaddy (NYSE:GDDY) Stock Price Expected to Rise, B. Riley Analyst Says

GoDaddy (NYSE:GDDY) had its target price raised by B. Riley from $220.00 to $225.00 in a report issued on Friday morning,Benzinga reports. The brokerage currently has a buy rating on the technology company’s stock.

A number of other brokerages have also recently issued reports on GDDY. Jefferies Financial Group upped their price objective on shares of GoDaddy from $170.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Citigroup upped their price objective on shares of GoDaddy from $240.00 to $251.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Barclays upped their price objective on shares of GoDaddy from $235.00 to $243.00 and gave the company an “overweight” rating in a research note on Friday. Robert W. Baird upped their price objective 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, Piper Sandler increased their price target on shares of GoDaddy from $176.00 to $177.00 and gave the company a “neutral” rating in a research report on Friday. Six analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $213.20.

GoDaddy Price Performance

Shares of NYSE:GDDY opened at $182.58 on Friday. The company’s fifty day moving average price is $204.20 and its 200-day moving average price is $179.81. The firm has a market capitalization of $25.63 billion, a price-to-earnings ratio of 14.11 and a beta of 1.15. GoDaddy has a one year low of $108.02 and a one year high of $216.00. The company has a debt-to-equity ratio of 10.61, a current ratio of 0.56 and a quick ratio of 0.56.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings data on Thursday, February 13th. The technology company reported $1.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.01). GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. On average, equities research analysts anticipate that GoDaddy will post 4.96 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Mark Mccaffrey sold 2,678 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $196.64, for a total value of $526,601.92. Following the completion of the transaction, the chief financial officer now directly owns 89,800 shares in the company, valued at $17,658,272. This trade represents a 2.90 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Phontip Palitwanon sold 770 shares of the stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $196.64, for a total transaction of $151,412.80. Following the completion of the transaction, the chief accounting officer now owns 23,059 shares of the company’s stock, valued at approximately $4,534,321.76. The trade was a 3.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,482 shares of company stock worth $4,709,650. 0.61% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Ashton Thomas Securities LLC bought a new position in shares of GoDaddy in the 3rd quarter worth about $27,000. Anchor Investment Management LLC bought a new position in shares of GoDaddy in the 3rd quarter worth about $31,000. Versant Capital Management Inc bought a new position in shares of GoDaddy in the 4th quarter worth about $43,000. Rakuten Securities Inc. increased its stake in shares of GoDaddy by 311.3% in the 4th quarter. Rakuten Securities Inc. now owns 218 shares of the technology company’s stock worth $43,000 after acquiring an additional 165 shares in the last quarter. Finally, Huntington National Bank increased its stake in shares of GoDaddy by 298.7% in the 3rd quarter. Huntington National Bank now owns 307 shares of the technology company’s stock worth $48,000 after acquiring an additional 230 shares in the last quarter. 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.