Barclays Raises GoDaddy (NYSE:GDDY) Price Target to $165.00

GoDaddy (NYSE:GDDY) had its target price lifted by Barclays from $150.00 to $165.00 in a research report sent to investors on Friday morning, Benzinga reports. Barclays currently has an overweight rating on the technology company’s stock.

GDDY has been the topic of a number of other research reports. Robert W. Baird lifted their price target on shares of GoDaddy from $150.00 to $175.00 and gave the stock an outperform rating in a report on Friday, May 24th. Benchmark reissued a buy rating and set a $158.00 target price on shares of GoDaddy in a research note on Monday, July 29th. B. Riley lifted their target price on shares of GoDaddy from $143.00 to $170.00 and gave the stock a buy rating in a research note on Friday, July 12th. Piper Sandler lifted their price target on shares of GoDaddy from $145.00 to $160.00 and gave the company an overweight rating in a research note on Friday. Finally, Royal Bank of Canada lifted their price target on shares of GoDaddy from $124.00 to $145.00 and gave the company an outperform rating in a research note on Friday, May 3rd. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $158.75.

GoDaddy Price Performance

GoDaddy stock traded up $9.84 during mid-day trading on Friday, reaching $151.25. The company had a trading volume of 2,407,777 shares, compared to its average volume of 1,159,537. GoDaddy has a fifty-two week low of $69.18 and a fifty-two week high of $152.09. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 9.15. The company has a market cap of $21.58 billion, a P/E ratio of 12.56 and a beta of 1.14. The business has a fifty day simple moving average of $141.77 and a 200 day simple moving average of $127.02.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings results on Thursday, May 2nd. The technology company reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.08. The company had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.10 billion. GoDaddy had a net margin of 41.12% and a negative return on equity of 363.95%. On average, equities research analysts predict that GoDaddy will post 4.81 earnings per share for the current year.

Insider Transactions at GoDaddy

In other GoDaddy news, CEO Amanpal Singh Bhutani sold 4,500 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $139.79, for a total value of $629,055.00. Following the completion of the sale, the chief executive officer now directly owns 365,398 shares of the company’s stock, valued at approximately $51,078,986.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other GoDaddy news, CFO Mark Mccaffrey sold 4,058 shares of the stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $133.69, for a total value of $542,514.02. Following the sale, the chief financial officer now directly owns 112,473 shares in the company, valued at approximately $15,036,515.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Amanpal Singh Bhutani sold 4,500 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer now owns 365,398 shares in the company, valued at $51,078,986.42. The disclosure for this sale can be found here. Insiders sold a total of 46,071 shares of company stock valued at $6,385,206 over the last three months. Corporate insiders own 0.61% of the company’s stock.

Institutional Trading of GoDaddy

Institutional investors and hedge funds have recently made changes to their positions in the stock. Fiera Capital Corp raised its position in shares of GoDaddy by 1.3% during the 4th quarter. Fiera Capital Corp now owns 828,124 shares of the technology company’s stock valued at $87,914,000 after buying an additional 10,312 shares in the last quarter. Louisiana State Employees Retirement System purchased a new position in GoDaddy in the 4th quarter worth $4,204,000. Forsta AP Fonden raised its position in GoDaddy by 87.5% in the 1st quarter. Forsta AP Fonden now owns 84,000 shares of the technology company’s stock worth $9,969,000 after purchasing an additional 39,200 shares during the period. CANADA LIFE ASSURANCE Co raised its position in GoDaddy by 20.0% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 214,514 shares of the technology company’s stock worth $25,469,000 after purchasing an additional 35,703 shares during the period. Finally, International Assets Investment Management LLC purchased a new position in GoDaddy in the 4th quarter worth $1,972,000. Hedge funds and other institutional investors own 90.28% of the company’s stock.

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.