Barclays Forecasts Strong Price Appreciation for GoDaddy (NYSE:GDDY) Stock

GoDaddy (NYSE:GDDY) had its target price boosted by research analysts at Barclays from $235.00 to $243.00 in a research note issued on Friday,Benzinga reports. The firm currently has an “overweight” rating on the technology company’s stock. Barclays‘s target price would suggest a potential upside of 33.10% from the stock’s previous close.

Several other equities analysts also recently commented on the stock. Royal Bank of Canada restated an “outperform” rating and set a $230.00 target price (up from $190.00) on shares of GoDaddy in a report on Wednesday, December 4th. B. Riley boosted their target price on GoDaddy from $170.00 to $190.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Citigroup increased their price target on GoDaddy from $240.00 to $251.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Piper Sandler boosted their price objective on shares of GoDaddy from $176.00 to $177.00 and gave the stock a “neutral” rating in a research note on Friday. Finally, StockNews.com downgraded shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a report on Friday, November 8th. Six investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, GoDaddy has a consensus rating of “Moderate Buy” and an average target price of $213.20.

GoDaddy Stock Down 14.1 %

NYSE:GDDY opened at $182.58 on Friday. GoDaddy has a 1-year low of $108.02 and a 1-year high of $216.00. The firm has a market capitalization of $25.63 billion, a price-to-earnings ratio of 14.11 and a beta of 1.15. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 10.61. The business’s fifty day moving average price is $204.20 and its 200 day moving average price is $180.06.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings results on Thursday, February 13th. The technology company reported $1.42 EPS for the quarter, missing the consensus estimate of $1.43 by ($0.01). GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. The company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.18 billion. On average, sell-side analysts forecast that GoDaddy will post 4.96 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Brian Sharples sold 500 shares of GoDaddy stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $207.70, for a total value of $103,850.00. Following the completion of the transaction, the director now owns 22,621 shares in the company, valued at approximately $4,698,381.70. The trade was a 2.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Phontip Palitwanon sold 770 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $196.64, for a total value of $151,412.80. Following the sale, the chief accounting officer now directly owns 23,059 shares of the company’s stock, valued at $4,534,321.76. This represents a 3.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,482 shares of company stock worth $4,709,650 in the last 90 days. 0.61% of the stock is owned by company insiders.

Institutional Investors Weigh In On GoDaddy

A number of hedge funds have recently added to or reduced their stakes in the stock. Ashton Thomas Securities LLC bought a new position in shares of GoDaddy in the third quarter worth about $27,000. Anchor Investment Management LLC bought a new position in GoDaddy in the 3rd quarter valued at $31,000. Versant Capital Management Inc bought a new stake in shares of GoDaddy during the fourth quarter worth $43,000. Rakuten Securities Inc. increased its position in GoDaddy by 311.3% in the fourth quarter. Rakuten Securities Inc. now owns 218 shares of the technology company’s stock worth $43,000 after purchasing an additional 165 shares during the period. Finally, Friedenthal Financial bought a new stake in GoDaddy during the 4th quarter worth about $49,000. Institutional investors own 90.28% of the company’s stock.

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.